Archive

EUROPEAN Union (EU) clothing manufacturers are preparing to carry out more checks on clothing safety, for example on potential flammability, dyes that may cause allergic reactions, or dangerous drawstrings, under a proposal (1) for new EU rules on protecting consumers from potentially dangerous products.…

New data from Action Fraud, the UK’s national reporting centre for fraud and cybercrime, reveals users of the messaging app WhatsApp face a high risk of being targeted by so-called ‘friend in need’ scams that involve criminals contacting victims pretending to be their friend or a family member.…

The central American and Dominican Republic clothing and textile sectors are lobbying against the United States scrapping the China 301 tariffs on finished apparel imports following a possible entente with Beijing, saying that the duties are helping encourage investments in their countries.…

With cyberattacks on the rise, organisations are having to devote ever more time and resources to defending against malicious activity – and some are now considering active defences, hacking back the hackers, to deter them and maybe damage their ability to harm victims.…

Switzerland continues to fall short on combating foreign bribery and should urgently take concrete steps to adopt key legislative reforms, according to the Organisation for Economic Cooperation and Development (OECD) Working Group on Bribery. It said in a July 20 public statement (1) it is “very concerning” that Switzerland still has not adopted longstanding legislative reforms it first recommended in 2011 (2) in an assessment of Swiss implementation of the OECD anti-bribery convention (3), notably on protection for private sector whistleblowers.…

India’s premium spirits market is growing fast with rising incomes and sharply falling prices in many states boosting sales. India’s gross national income per head in 2021 was USD7,220 compared to USD4,190 in 2010, according to World Bank data. With more money, “Indians are drinking better, but unlike the west [also] drinking more,” Ruchika Gupta, marketing director of Beam Suntory told Just Drinks.…

Accountancy giant Ernst & Young (EY) has been fined USD100 million, the largest penalty that the US Securities & Exchange Commission (SEC) has ever imposed on an audit firm, after at least 49 employees were caught cheating on professional exams. The SEC said on June 28 that it was fining EY not only over the cheating on tests needed to obtain and maintain Certified Public Accountant (CPA) licenses, but also for covering up and withholding evidence of the misconduct (including internal reports), from the SEC’s enforcement division during its investigation.…

The European Commission is planning a crackdown on professional enablers that help clients with tax evasion by tackling what it says is the ‘grey zone’ of aggressive tax planning, responsible for eroding the European Union’s tax base.  A 2021 European Union (EU) study (1) estimated the bloc’s losses from tax evasion at EUR124 billion (USD124.7 billion) in 2018.…

The global construction industry is highly vulnerable to fraud and corruption say industry specialists, who argue such crime can account for up to 30% of the sector’s overall costs.

“A whole load of factors make the construction sector a building site for fraud and corruption.…

With corporate fraud rising fast, “hiring for character as well as competence is now the hottest trend” in recruitment practice, Bruce Weinstein, a high-profile USA-based business ethics speaker has told Fraud Intelligence. Securing honest senior managers and board members matters, said the self-styled ‘The Ethics Guy’, who has worked for All State Insurance, the National Football League, Northrop Grumman, the South Carolina National Guard, and more: “It is not only possible to do this; it is essential,” Mr Weinstein stressed.…