Search Results for: German

AS COVID-19 batters the world into its second year of the most destructive global pandemic since the Spanish Flu of 1919, its impact on AML/CFT is becoming clearer. FATF released an updated assessment in December (2020) (1) highlighting an increase in certain predicate offences caused by the disease itself and the increased online activity it has generated: phishing scams, business compromise fraud; internet child sex exploitation; corruption and fraud related to medical supply contracts; and property thefts of vacant homes and offices.…

INTRODUCTION

In a highly technical textile sector segment such as the manufacture of compressed garments, the use of detailed standards to guide production is not just useful in guaranteeing quality output, it can help manufacturers and brands’ marketing. Where products are associated with international, regional, national and private standards, this builds confidence in consumers, promoting sales.…

A trade war over airplane manufacturing subsidies between the USA and UK, which has led to 25% additional duties being levied on British knitwear exports to America, appears to have been resolved. The EU and the USA have suspended for five years retaliatory duties that both sides have imposed on each other’s exports in the long-running ‘Airbus’ subsidy dispute.…

Ethical clothing and textile brands and product lines are springing up in Egypt with an eye on export markets, with a newly formed Sustainable Fashion Alliance aiding the segment’s development by addressing potential problems in the supply chain and lobbying the government for assistance.…

A novel global taxation system under discussion at the G7, G20 and the OECD will raise minimum tax thresholds for drinks multinationals. However, only a handful are large enough to fall under a rule forcing them to pay tax in all their major markets rather than tax havens or their parent company base.…

The European Commission has fined German carmakers BMW and Volkswagen (makers of the Audi, Porsche and Volkswagen marques) EUR875,189,000 for operating a cartel restricting competition in emission-cleaning technology for diesel cars for over five years. Another German carmaker, Daimler, escaped a fine for revealing the cartel existed to the Commission, under 2006 leniency notice provisions (1) that spare the first cartel member that comes clean about its existence. …

INTRODUCTION

The COVID-19 pandemic has had many profound social and economic impacts, but maybe one of the most important for the clothing and textile sector has been how it encouraged the meshing of design and function in products.

With consumers staying at home, they have looked for apparel to provide comfort as much as formal elegance, of more importance when working in an office or attending public evening events.…

Turkey is struggling to recover its position as an important supplier of high-end and luxury fabrics, recouping sales lost on cost to Chinese rivals. The industry retains great potential strength, being the world’s fifth largest supplier of textiles selling USD12 billion exported annually, according to Istanbul Textile and Raw Materials Exporters Association (İTHİB – İstanbul Tekstil ve Hammaddeleri İhracatcilari Birlig).…

AMERICA has long been the global policeman of international sanctions, including breaches of AML rules, but evidence suggests that the US dollar’s use in international transactions could be weakening and is having to compete with the rising power of crypto currencies.…

THE EUROPEAN Commission in June (2021) signalled it was running out of patience with Malta and Cyprus over their ‘golden passport’ schemes which allow people investing in these small island nations to effectively buy citizenship. The European Union (EU) executive has long warned that such policies contain significant ML risks, releasing a detailed report in 2019 that highlighted concerns that governments failed to properly screen the source of funds used to gain golden passports.…