Search Results for: Australia

Cybercrime has spanned national borders as it has increased exponentially in recent years. However, despite often being carried out in multiple jurisdictions that require a coordinated multinational response, tackling such crime has been hampered by the lack of international cooperation. Paul Cochrane reports.…

The Australian government has proposed a comprehensive set of AML reforms within formal legislation that is now under discussion in the country’s House of Representatives and Senate (1).

A key goal is answering criticisms of Australia that its AML/CFT regime was too narrowly focused.…

Terms of reference for a United Nations Framework Convention on International Tax Cooperation have been agreed by an ad hoc UN committee, including integrating commitments on tackling tax avoidance and tax evasion, plus equitable taxation of multinationals. A UN member state-led negotiating committee will now meet in 2025, 2026 and 2027 for at least three sessions per year to complete and submit a final text to the UN general assembly for approval.…

Major emerging markets such as Vietnam are regarded by the west as sourcing hubs for products and packaging, but this south-east Asian country of 100 million people is now a major metal packaging market. According to recent forecasting from India-based market researcher Mordor Intelligence, the Vietnamese metal packaging market is expected to expand at a compound annual growth rate (CAGR) of 3.07% from 2024 through 2029, growing from USD2.11 billion to USD2.45 billion (1).…

The University of Victoria (UVic), in Canada’s temperate rain forest zone, on Vancouver Island, British Columbia, has blazed a trail in integrating its education for sustainable development (ESD) with an expansive range of courses and activities, deepening its impact.

The 2024, the Times Higher Education (THE) Impact Rankings rated UVic as fifth worldwide in the world for supporting the UN sustainable development goal SDG13 on climate action; and fourth worldwide for helping promote SDG11 on developing sustainable cities and communities.…

The Japanese yen’s slide of more than 10% against the dollar in the past 12 months to reach a 38-year low may be propping up profits for Japan’s export-driven automakers but the resulting rising production input import costs are causing pain for Japanese auto parts suppliers businesses.…

It is a rule of thumb that every new economic and social innovation brings its response in fraud, and the phalanx of sustainability reporting rules and certification is expected to prompt a wave of environmental fraud.

Companies have long been accused of ‘greenwashing – making false sustainability claims about their goods and services – and regulators are increasingly cracking down on the practice, with a new European Union (EU) green claims directive under consideration.…

A Financial Action Task Force (FATF) paper on gatekeeper professions and corruption has highlighted how some major countries are dragging their feet in implementing AML/CFT controls. Concerns focus on lawyers/notaries, accountants, real estate agents and company/trust service sectors. Indeed, jurisdictions delivering 50.89% of global GDP comply with half or fewer of FATF requirements for squeezing dirty money from these professions, said its report ‘Horizontal Review of Gatekeepers’ Technical Compliance Related to Corruption’ (1).…

The new president of the European Apparel and Textile Organisation (EURATEX), the Portuguese textile entrepreneur Mario Jorge Machado, wants to push for a more united European Union (EU) to fight unfair competition worldwide.
Machado was elected by his peers during the Euratex’s general assembly on June 14.…