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The annual value of South Africa’s paints and coatings market will nudge USD2.1 billion (South African Rand ZAR33.3 billion) by 2026 after growing at a compound annual growth rate (CAGR) of 5.6% between 2021 and 2026.

These predictions from market researcher IndustryARC came in May (2021) as the industry battled the continued impact of the global Covid-19 pandemic.…

Britain’s largest retail bank has been fined GBP264.7 million (USD350 million) for breaking UK AML laws through handling GBP365 million from a jeweller, suspected of being a major money launderer. (1)

NatWest staff were shown by the case at Southwark Crown Court to have ignored red flags that former Bradford, Yorkshire, jewellers, Fowler Oldfield, was processing millions of pounds of illicit cash.…

Higher education institutions are being warned they could be a target for money laundering, with fees being financed by the proceeds of crime, including corruption, which might also buy property, cars and other items for students.

The problem has been highlighted in a series of reports.…

A former DEA agent who laundered money undercover to attack the Medellín and Cali cartels has called for a root-and-branch reform of AML, so that its vast resources target the most suspicious transactions and the professional launderers who facilitate them. Speaking to MLB, Robert Mazur, who offered ML services to drug kingpins such as Pablo Escobar in the 1980s and 1990s to undermine their criminal networks, said that many laundering techniques used then are still in use today.…

Cambodian and Myanmar clothing industry leaders have confirmed a shift in manufacturing orders from Myanmar to Cambodia, caused by the economic and political disruption within Myanmar, since the February 1 coup.

Kaing Monika, deputy secretary general for the Garment Manufacturers Association in Cambodia, told Just Style that brands were starting to redirect orders to Cambodia, seeking more competitive prices, quality, delivery and compliance, but it was unclear if this would lead to factories moving at this point.…

European Union (EU) law enforcement, perhaps emboldened by the launch of the European Public Prosecutor’s Office (EPPO), has launched a series of cases and inquiries, including against high-ranking politicians accused of corruption. For example, Gabrijela Žalac, Croatia’s regional development and EU funds minister from 2016-9, and three accomplices, have been arrested, on EPPO orders, for alleged fraud regarding the purchase by her ministry of deliberately overpriced software for a public company.…

British and Swiss banks have been fined a total of EUR344 million for operating a cartel coordinating their foreign exchange (forex) spot trades of the world’s 11 most important currencies – USD, EUR, GBP, Japanese Yen, Swiss francs; Canadian, Australian and New Zealand dollars; Danish and Norwegian krone and Swedish Kroner.…

Britain’s Attorney General Suella Braverman has commissioned an independent review of the Serious Fraud Office (SFO) after its failings led the Court of Appeal to quash the conviction of Ziad Akle, former territory manager in Iraq for Monaco-based, Unaoil. In July 2020 Akle was sentenced to five years prison over bribes Unaoil paid to secure Iraqi contracts for offshore mooring buoys, but appeal judges Lord Justice Holroyde, Mr Justice Jeremy Baker and Mr Justice Jay, overturned the overturned the conviction December 10.…

The second-largest garment exporting country in the world, Bangladesh has grown its position as a key outsourcing hub since the 1980s.  

With a global market share of 6.26%, according to the World Trade Statistical Review 2021 (1), “The industry has come a long way,” said Md. …

The European Union (EU) dairy industry is looking hard at the new Common Agricultural Policy (CAP) reforms that were approved in June to see if they deliver enough help to rejuvenate what has become an ageing industry. Currently only 11% of EU farmers are less than 40 years old, the European Commission notes (1), a problem highlighted at this year’s European Milk Board general assembly.…