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The Indonesian government is looking to actively support the country’s textile and clothing industry as it faces a downturn in exports, depressed by soft economies in overseas markets facing high inflation and interest rates.

Trade has indeed fallen, said the Indonesia industry ministry, which told Just Style of a decline in both exports and imports in the first half of this year (2023), with clothing and textile exports dropping by 18.7% and imports by 19.8%.…

Türkiye’s digital textile printing sector had started to rebound post-Covid-19, but since 2022, orders have slowed due to weakening economies in the country’s key European markets, while production costs have been impacted by surging inflation and currency devaluation. While this has hampered order books, reducing demand for all kinds of finishing, print houses have been adapting by seeking medium to high-end orders for smaller print runs, which favour digital printing’s flexibility – promoting investment.…

Sri Lanka’s inflation may be slowing compared to last year (4% in August, down from 64.3% year-on-year), (1) but the country’s clothing sector is still being hit by a lack of orders, the country’s industry body the Joint Apparel Association Forum (JAAF) has told Just Style.…

The China National Garment Association (CNGA) in a new briefing (1) on China’s clothing industry economic operations for H1 2023 warned that China’s clothing industry is under serious pressure. Insufficient post-Covid demand recovery in international markets due to inflation and central banks’ tight monetary policies have been exacerbated by overseas customers transferring orders to other countries.…

While UK authorised push payment (APP) fraud losses were down 17% in 2022 year-on-year, they still cost victims GBP485.2 million (USD619 million) and comprised 57% of all reported cases relating to purchase fraud, with case volumes breaking 100,000 for the first time.…

Regulators worldwide are cracking down on poor labour and environmental practices in apparel supply chains amid growing concerns about upstream parts of the clothing industry. Probes into major international fashion brands, who have been criticised about alleged malpractice by their suppliers have been encouraging legislative and regulatory reforms.…

Following the collapse of two high profile cases against mining majors Rio Tinto and ENRC (1), there have been broad calls for the UK’s Serious Fraud Office (SFO) to be reformed to better tackle complex cases. This includes reforms ranging from changing the disclosure regime and its investigative model, to better funding and more cooperation with other enforcement agencies.…

The UK’s new Public Sector Fraud Authority (PSFA) saved taxpayers GBP311 million (USD377.5 million) in its first year of operation, far outstripping the GBP180 million (USD218 million) target set at its launch in August 2022. Baroness Neville-Rolfe, minister for the Cabinet Office, unveiled the “big win for taxpayers” at a September 2023 meeting of the International Public Sector Fraud Forum, which brings together the so-called ‘Five Eyes’ nations – Australia, Canada, New Zealand, the UK and the United States – to share best practice in combatting public sector fraud.…

The Ontario government is pump-priming technologies for the development of connected and autonomous vehicles (CAVs), as other provincial administrations in Canada and the federal government steadily roll out laws for testing and driving self-drive autos.

The province’s Ontario Vehicle Innovation Network (OVIN), part of the publicly-funded Ontario Centre of Innovation (OCI), has played a key role.…

Every new information technology is a potential double-edged sword for committing and detecting financial crime, including money laundering and terror finance, and the development of large language model (LLM) processing AI systems, such as ChatGPT, is no exception.

Experts have already raised concerns about how these systems could be abused by money launderers, as well as how they may help obliged entities, FIUs and related law enforcement agencies fight dirty money flows.…