Search Results for: Australia

The need to reduce the environmental impact of the dairy sector, promoting sustainability, may limit the growth of the industry internationally, but the world’s largest milk producer, India, is projected to double its turnover within the next five years, a global conference has been told.…

INTRODUCTION 

With the textile industry under pressure from consumers, regulators and standards to become more sustainable, companies are looking at all aspects of the supply chain – including upstream to fibre production. Digitalisation has a key role to play here, especially in supplier countries where the use of such technology is weak – such as in Africa.…

Australia’s commitment to strengthen its anti-money laundering legislation is now an eight-year-old promise that has yet to be fulfilled. However, with a change in government in May 2022, with the Labor Party taking power after nine years of government by the right-centre Liberal-National Coalition, there is renewed hope that reform could finally be delivered.…

Xolisile Khanyile, the director of South Africa’s Financial Intelligence Centre (FIC) has been appointed chair of the Egmont Group (EG) of Financial Intelligence Units (FIUs), taking over from July for a two -year term. She replaces the Netherlands’ Hennie Verbeek-Kusters, who had served as chair since 2020.…

Cambodia’s clothing sector may continue to face challenges over its weak backward linkages and pressure to increase wages – balancing reasonable pay with international competitiveness in price sensitive markets – but its apparel export receipts remain healthy. The country’s clothing export earnings were not seriously damaged by the Covid-19 pandemic, which had a relatively light impact on Cambodia.…

The technical textile market looks set to ride out current turbulence caused by inflationary and geopolitical pressures, including Russian militarism, with a projected uptick in global performance – research and industry commentators predict. But plans for onshoring and innovation investments might be delayed as day-to-day costs continue to rise.…

Vendors continue to roll out what they claim are ever more powerful CDD/KYC systems, helping enable compliance with increasingly comprehensive ultimate beneficial ownership (UBO) laws.

But do these technologies offer the AML community the potential to consider a new model – focusing on robust CDD by obliged entities, without the need to report STRs, and relying on better financed law enforcement to demand information via subpoenas to firm up ML cases?…

With cyberattacks on the rise, organisations are having to devote ever more time and resources to defending against malicious activity – and some are now considering active defences, hacking back the hackers, to deter them and maybe damage their ability to harm victims.…

LOYALTY rewards fraud is on the rise. USD1.2 billion’s worth of stolen airline miles alone are being sold on the dark web, says USA–based fraud prevention expert Forter. Subverted loyalty accounts can be a major problem, given 21% of loyalty accounts have credit card details attached, it says.…

With the lifting of the Covid-19 induced lockdown in Shanghai at the start of June, the world’s largest wool exporters are hoping for less disruption to their business with China. But ongoing Covid outbreaks in the country, alongside the government’s continued zero-Covid policy, whereby cities are closed to control infections, and a backlog at its ports, are still causing concern.…