Search Results for: Singapore

The former Chief Executive of the Formula One Group Bernie Ecclestone has plead guilty to a single charge of fraud by false representation over the alleged millions of GB pounds he had hidden from British tax authorities, Her Majesty’s Revenue and Customs (HMRC).…

Risk specialists predict that the current instability in China’s trust sector and China’s slowing economic growth will lead to a massive outflow of capital from China, breaching Chinese money laundering laws. That will include both the export of legally earned money in excess of Chinese capital export caps of USD50,000 per year and illicit movements of criminal proceeds.…

Chinese textile companies are bringing digital textile printing into the realms of denim and yarn to replace unsustainable dyeing processes, industry observers have told Digital Textile.

‘Digital denim’ made using a computer and printer involves applying inkjet printing dyeing’ on cotton fabric to make the ‘digital denim’ fabric resembling different styles of jeans has become increasingly popular within China’s textile sector.…

A group of 10 foreign nationals, all ethnically Chinese, have appeared at Singapore’s State Courts accused of operating a Singapore dollars SGD1 billion (USD738 million) international money laundering ring. The group have all been denied bail in preliminary hearings, following an island-wide set of police raids on August 15 involving more than 400 police officers.…

Business computer and phone users know they should not click on links in emails and texts from unknown senders. But malware developers are increasingly hacking into trusted online apps, inserting malicious code, downloaded by the unwary. Keith Nuthall, Raghavendra Verma and Jens Kastner report on this burgeoning threat.…

St Kitts & Nevis, the western hemisphere’s smallest sovereign state (by population), has significant work ahead to meet international AML/CFT standards, despite significant reforms being passed in 2020 and 2021. The twin-island state, with just over 47,000 people, is, noted a Caribbean Financial Action Task Force (CFATF) mutual evaluation report issued January 2022, a “small international financial centre which consists of commercial banking, international banking, domestic insurance, international insurance, securities, money service businesses and credit unions”.…

The bounce back from Covid-19 lockdowns to the key south-east Asian economies of Malaysia and Singapore have seen robust growth in both countries, boosting paint and coatings sales, although the Malaysian market has some fragility this year.

Economic growth in both ASEAN (Association of Southeast Asian Nations) members have been robust with data from the World Bank showing Malaysia’s GDP expanding from USD337.34 billion in 2020 to USD406.31 in 2022 (1) – its population being 33.5 million people.…

The European textile industry is well positioned to lead the global sector towards a more sustainable future, this year’s ITMA 2023 international conference has been told. Alberto Paccanelli, president of Euratex, which represents over 143,000 companies in the European Union (EU) textile and clothing industry, told Just Style at the Milan (June 8-14) event that the European Commission’s Textiles Ecosystem Transition Pathway (1), released June 6, implementing the EU Strategy for Sustainable and Circular Textiles, could have a positive impact.…

The use of money mules moving dirty money worldwide continues to grow, with law enforcement, financial institutions and researchers continuing to highlight the problem. In the UK, 31,979 money mule cases were recorded in 2017; rising to 40,129 in 2018; 42,900 in 2019; and 40,353 in 2020; according to 2022 research published in the International Journal of Business and Economy (1).…

The sustainability of the global fashion industry is coming under increased scrutiny. Concerns about how the industry uses water, chemicals and human labour, its greenhouse gas emissions and the mounting landfilling of ‘fast fashion’ disposables, have led politicians, sustainability activists and consumers to put pressure on the industry to change.…