Search Results for: China

China’s textile industry has been under intense pressure during the first half of this year (2022) to deal with the country’s continuing struggle to contain Covid-19, imposing tough lockdowns, even as much of the rest of the world eases social distancing rules.…

A spate of recent high-profile investigations into suspected money laundering through cryptocurrency and a failure to prevent it have drawn attention to the capacity of law enforcement to tackle AML/CFT activity in the crypto sphere.

In July 2021, the UK’s Metropolitan Police force in London said it had seized a record GBP180 million (USD219 million) worth of cryptocurrency linked to international money laundering.…

The creation crypto-currency units through the arcane process of ‘crypto-mining’ presents peripheral money laundering risks, during the initial validation of a crypto coin and where the transaction is mined. There could be a need for a new type of KYC – KYM, ‘Know Your Miner’.…

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.…

Although China’s 13th Five-Year Development Outline for the Textile Industry (2016–2020) mandated sustainability improvements for China’s entire textile industry, the government’s efforts to improve the environmental performance of the country’s synthetic dye segment have gained visible momentum more recently, under the 2021-25 14th Five-Year plan.   …

Russia’s invasion of Ukraine and the resulting unprecedented international sanctions has disrupted an ongoing shift in Russia’s finishing sector towards digital textile printing. “Digital textile technologies are something new both for the entire world and for Russia. But we have a special interest in them.…

Growing environmental concerns and rising awareness of sustainable energy resources is driving considerable growth in the global used cooking oil (UCO) market. Production is also being boosted by recent technological advancements in UCO processing, expanding supplies from the rapidly evolving foodservice industry and initiatives by various governments to promote UCO for industrial use.…

Fighting money laundering is tough enough in peacetime, requiring the careful application of sophisticated and complex investigative techniques, so outbreaks of war can damage efforts to fight ML and terror financing. The chaos of war can also provide opportunities for financial crime and the laundering of its proceeds, including the evasion of sanctions.…