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The automotive industry has always been a major consumer of textiles, but it is deepening links with specialist fabric companies, including those linked to fashion. Polestar, the Sweden-based subsidiary of China’s Geely Holding Group, was a key supporting partners of this year’s Global Fashion Summit in Copenhagen, Denmark, this June (2022).…

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.…

A memorandum of understanding has been signed by the IFRS Foundation with Canadian investment agency Montréal International to obtain financial support from the governments of Canada and Québec to establish a base in Montréal for the International Sustainability Standards Board (ISSB).…

Russia’s invasion of Ukraine – which as of June 10 had killed 4,339 civilians (UN figures) – sparked an unprecedented range of sanctions against Russia’s financial, business and political elite. But there is little evidence as of June – with the invasion entering its fourth month – of upset Russian oligarchs pressuring President Vladimir Putin to abandon his bloody invasion, because they had lost access to their yachts, mansions and bank accounts.…

The Covid-19 pandemic forced many AML/CFT practitioners to work remotely, forcing training away from the face-to-face learning that has been dominant in the past. But now, as the pandemic wanes, combining innovative remote AML/CFT learning practices developed during Covid-19 with longer established in-person training is under consideration.…

Bangladesh’s knitwear industry has criticised the failings that caused a major fire at a storage depot holding clothing and textiles for export from the country’s major port at Chittagong, killing 44 people and losing sector companies more than USD110 million.

Mohammad Hatem, first vice-president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) expressed regret that despite the major improvements in factory safety made since the Rana Plaza tragedy in 2013, port facilities and associated depots were not covered by these investments.…

The American infant formula market has been suffering from shortages, in part, because of a problem rarely encountered in the US economy, a lack of free market competition.

The nationwide baby formula out of-stock percentage was at 74% for the week ending May 28, according to retail-tracking company Datasembly.…

The Bangladesh clothing industry is counting the cost of the deadly fire at the Sitakunda depot, serving the country’s major port at Chittagong, blaming the government and the depot owners for the blaze that appears to have erupted amongst stored chemicals.…

A major commission of inquiry in the Canadian province of British Columbia (BC) has concluded federal AML institutions are so ineffective, they should be bolstered by special provincial law enforcement and regulation.

The report, headed by a BC supreme court judge, Austin Cullen, lambasts Canada’s federal FIU FINTRAC, for failing “to produce timely, useful intelligence about money laundering activity”.…

National risk assessments (NRAs) for money laundering and terrorist financing, required by the Financial Action Task Force (FATF) since 2012, are not comparable nor based on sound methodology, according to a new World Bank study (1) ‘National Assessments of Money Laundering Risks: Learning from Eight Advanced Countries’ NRAs’.…