Search Results for: England

The signing of the Australia-United Kingdom Free Trade Agreement (A-UKFTA) may have created one new trade deal, but it is regarded in contrasting lights by the two countries’ respective dairy industries.

On the UK-side, industry association Dairy UK regards this as an unequal deal, giving British exporters little to leverage.…

As tech evolves, notably through the development of artificial intelligence (AI), anti-money laundering (AML) compliance officers at obliged entities are assessing a growing range of applications and platforms.
The global AML software market size is estimated to grow by USD2.7 billion from 2022 to 2027 at a compound annual growth rate (CAGR) of 15.01%, although “the high cost of implementation may impede” this expansion, according to the Illinois, USA-based market researcher Technavio.…

The UK government has recovered just GBP10 million (USD12.5 million) of the suspected GBP2.2 billion (USD2.75 billion) lost in fraudulent or erroneous payments under its Covid-19 business support schemes, according to the House of Commons public accounts committee (PAC). In its scrutiny of the department for business, energy & industrial strategy’s annual report and accounts 2021–22, the committee noted that the department does not expect to recoup almost GBP1 billion (USD 1.25 billion) paid out to local authorities by the government during the pandemic as business support grants.…

The UK’s Fraud Advisory Panel (FAP) has warned that British government failures to monitor and fight public housing tenancy fraud means 76% of such scams go undetected in England, costing more than GBP500 million (USD619 million) in unnecessary social housing spending during 2019-20.…

Deposit return systems (DRS) promoted by European Union (EU) regulation are the best way to help EU can manufacturers achieve high recycling and collection of quality materials, EU (European Union) can sector experts told the March 28-30 Packaging Waste and Sustainability Forum, in Brussels.  …

The high winds buffeting Ireland, blowing in from the Atlantic Ocean, are providing the island country with a solution to ease its reputation as a laggard in climate action policies required by international agreement and European Union (EU) politics. (1) .…

Like many industries, the global textiles market is waking up to the potentially revolutionary applications of ‘generative’ AI tools able to create insight and hunt for information, such as ChatGPT. Its acronym stands for ‘generative pretrained transformer’ and is a natural language processing model that is free to use.…

Business email compromise (BEC) fraud is growing so fast worldwide, it is regarded by the USA’s Federal Bureau of Investigation (FBI) to be “a major threat to the global economy”. In a report written for the US congress last November (2022), the FBI said in the USA during 2021, the Internet Crime Complaint Center (IC3) received BEC-related complaints with claimed losses exceeding USD2.4 billion, and USD43 billion between July 2016 and December 2021 (1).…

The British government and the Bank of England have said private electronic wallet developers would be responsible for AML under planned technical systems required to launch a potential digital version of the UK’s Pound Sterling.

They have launched a detailed consultation paper and associated working paper, which say that the central bank would store all digital pound transaction data on a central database (1) (2).…

A British parliamentary committee has found that victims of authorised push payment (APP) fraud – where people are tricked into paying fake creditors – face inconsistencies in reimbursement, even when their banks are signed up to the voluntary contingent reimbursement model (CRM) code.…