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.
AML PROFESSIONALS HAVE A TOUGH JOB, CAN THE JOB BE MADE EASIER AND MORE EFFICIENT?
Financial professionals involved in AML/CFT are facing a growing set of professional, regulatory and technical pressures, from top AMLO managers to the front-facing staff onboarding customers, and backroom technical staff screening transactions. AML/CFT regulations in most jurisdictions are becoming increasingly broad and detailed, with implementation and enforcement ramping up.…
HMRC ANTI-FRAUD SQUAD SAYS IT HAS RECOVERED GBP 1 BILLION IN CRIME PROCEEDS IN FIVE YEARS
A specialist fraud squad for Britain’s HM Revenue and Customs (HMRC) has seized crime-tainted assets and money worth more than GBP1 billion (USD1.35 billion) since it was formed of five years ago, the organisation has revealed (1).
HMRC’s Fraud Investigation Service (FIS) utilises both criminal and civil enforcement powers to pursue suspected proceeds of crime.…
CYBER ATTACKS: HOW PREPARED ARE ORGANISATIONS TO DEAL WITH THE THREAT?
Businesses and government agencies continue to face a barrage of attacks from cyber-criminals, which have continued unabated in the past year, keeping up the pressure of frauds and hacks that have increased since Covid-19 spread worldwide in March 2020.
Organisations around the world faced more cyberattacks than ever before in 2021, say some data collectors.…
HALAL NUTRACEUTICAL SEGMENT SEEKS TO CEMENT COVID-19 INSPIRED GROWTH
The global market for halal nutraceutical products, including vitamins and wellbeing supplements, is set to double over the next 10 years, according to new research. A report from Dubai-based Future Market Insights (https://www.futuremarketinsights.com/reports/halal-nutraceuticals-and-vaccines-market), published last July (2021), predicted sales of these products would increase from USD58.01 billion in 2021 to USD116.38 billion by 2031.…
EUROPE’S BIO-BASED OILS AND FATS SECTOR EYES STEADY GROWTH IN 2020s
While a projected boom in renewable diesel production is expected to disrupt the American bio-based oils and fats market, a swifter adoption of electric transport technology in Europe is likely to reduce this impact in the European Union (EU), the European Commission has projected.…
INDIA’S MAJOR CLOTHING AND TEXTILE HAS ENOUGH DIVERSITY TO FLOURISH
India’s large and diverse clothing and textile industry is flourishing through sustained domestic sales growth and lucrative government incentives.
Its increased reliance on man-made fibres (MMF), a sharper focus on technical textiles and the construction of mega production units have been major features defining the progress of India’s clothing and textile industry.…
IMPROVING SELF ESTEEM IS KEY TO IMPROVING AUDIT QUALITY AND RECRUITMENT, SAY EXPERTS
The importance of ensuring auditors and accountants have good self-esteem is perhaps higher today than before, with Covid-19 loading on stress in a tough profession. It has been highlighted by new research from Nyenrode Business University, the Netherlands.
Nyenrode research conducted by Professor Herman van Brenk and co-authors assessed more than 100 audit partners and managers.…
EY REPORT FINDS ‘SAY-DO’ INTEGRITY GAP AMONG TOP BOSSES
The latest EY integrity survey has found a ‘Say-Do’ gap among senior executives, where what they say about the importance of integrity is not matched by their actions. While 97% of respondents said integrity was important, the EY Global Integrity Report 2022 ‘Tunnel vision or the bigger picture?…
UK RETAILERS TOLD TO USE SCA ID CHECKS FOR ONLINE SALES
British banking industry association UK Finance is warning retailers with an online presence that they need to ensure their websites support strong customer authentication (SCA) or risk seeing transactions declined when banks start to apply new rules from January 18. To prevent fraud, banking watchdog the UK Financial Conduct Authority (FCA), will require SCA, whereby customers buying goods online will be asked to verify their identity through their banking app or a one-time passcode via text or phone call, from March 14.…
BREXIT INCREASES COST AND COMPLEXITY FOR FOOD BUSINESSES, SAY EXPERTS
AS the one-year anniversary (January 31, 2022) (WRONG) following the end of UK commitments to follow European Union (EU) law and treaties has just passed, food and drink companies have little positive to say about the extra red tape that has followed.…