Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
JAPAN ICE CREAM MAKERS READYING FOR POST-COVID GROWTH IN SALES
The Covid-19 pandemic has depressed demand in some segments of Japan’s ice cream market, but manufacturers are weathering the storm and poised for continued improvement, according to industry experts.
The country’s second-largest confectionery segment has enjoyed continuous growth in the past 10 years.…
CAMBODIA’S GARMENT INDUSTRY STRUGGLES WITH LOCKDOWNS IN LATEST COVID CRISIS
The Cambodian government eased Covid-19 lockdown restrictions from May 6, but many of the capital Phnom Penh’s garment factories are still dealing with impacts after a third wave of the virus surged through dozens of factories.
The Phnom Penh city municipality on Wednesday (May 5) night reduced the number of areas under strictest ‘red zone’ lockdown measures to a few patches on the map, where factories are unable to open.…
SWISS LIFE CONSPIRED WITH US TAXPAYERS TO HIDE USD1.452 BILLION, SAYS DOJ
Switzerland’s largest insurance company, Swiss Life, and its subsidiaries in Luxembourg, Liechtenstein and Singapore have admitted to conspiring with US taxpayers and others to hide a total USD1.452 billion in offshore accounts, the US Department of Justice (DOJ) said on May 14.…
EU COMMISSION FINES THREE BANKS EUR371 MILLION OVER BOND CARTEL
The European Commission has fined three banks, UBS, Nomura and UniCredit a combined total of EUR371 million (USD452 million) over their role in a European government bond (EGB) cartel involving four other banks. All three deny wrongdoing and are considering or will appeal the fines before the European Court of Justice (ECJ).…
LIE DETECTION TECH BEING DEVELOPED RAPIDLY, BUT EXPERTS WARN TRAINED HUMAN INTERROGATORS REMAIN ESSENTIAL
Lie detection is an emerging science, with technology being developed to help companies and law enforcement seek to detect fraudsters and other criminals. Artificial intelligence is a potential key development in enabling machines to screen subjects physical and audible response to questions to detect lies.…
EBA CONSULTS ON PLANS FOR A CENTRAL AML DATABASE
The European Banking Authority (EBA) May 6 launched a public consultation (1) on its plans to create a central European Union (EU) AML/CFT database to “serve as an early warning tool” for competent authorities to act before risks “crystalise”. A revised EBA regulation (2) that took effect in January (2020) requires the Paris-based agency to set up the database as a key tool for its pivotal new role overseeing AML/CFT efforts in the 27-nation bloc.…
EU APPROVES SEVEN YEAR ANTI-FRAUD POLICY SPENDING PROGRAMME
THE EUROPEAN Union (EU) has authorised its EUR181 million anti-fraud programme for 2021-27, with a regulation mandating this spending coming into force on April 29. The new seven-year programme will see EUR114 million spent on preventing and combating fraud, corruption and other financial crimes that can damage the overall EU budget.…
COVID 19 INSPIRES HACKERS TO SWITCH UP THEIR ATTACKS AND VIRUSES
One of the many downsides of the Covid-19 pandemic has been the inspiration for cyber-criminals to develop new ways of attacking computer users at their home, especially when working remotely. European police agency Europol reported in its annual cybercrime report released last October (2020) that business email compromise fraud and phishing had expanded significantly in frequency and variety since Covid-19 took hold last March (2020).…
ASHRAE HQ RENOVATION PUSHES THE GREEN ENVELOPE
IF there is one USA organisation that you might expect to excel at installing cutting edge green energy systems, it would surely be the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE).
And, indeed, according to engineer Stanton Stafford, ASHRAE adopted what he calls the “Ferrari” of heating and cooling systems for the society’s new headquarters in Atlanta, Georgia, whose renovation is almost complete.…
BRITISH GOVERNMENT MULLS ROOT-AND-BRANCH AUDIT REFORM TO IMPROVE FRAUD DETECTION
Auditors in the UK are on the cusp of transforming their approach to fraud, pushed by a long-deliberated reform in audit guidance by the government.
It has released a white paper ‘Restoring Public Trust in Audit and Corporate Governance’ that suggests forcing more responsibility on auditors for fighting financial crime in the UK.…