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DIGITISATION OF FASHION SECTOR INCREASES NEED TO STRONG CYBERSECURITY



Fashion brands have been warned to step up online security as the industry becomes increasingly digitalised and Russian hackers pose an increased risk as the country’s military struggles to maintain its invasion of Ukraine. 

While digitalisation brings enhanced sustainability, reduced waste, stricter inventory management, personalised designs, smart wearable tech garments, AI-enabled virtual fittings and integrated supply chains, increasing online data offers bad actors additional attack vectors, said Maryland, US-based cyber exposure management company Tenable. …

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WORLD’S BIGGEST FIRMS FAILING ON ANTI-GRAFT DISCLOSURE



The world’s 600 largest companies are failing to provide full disclosure of anti-bribery and corruption information within their sustainability reporting, according to a joint report (1) backed by the International Federation of Accountants (IFAC). Working with from Transparency International UK and the World Economic Forum’s Partnering against Corruption Initiative.…

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CONCERNS GROW ABOUT AML/CFT SYSTEMS BEING ABUSED FOR POLITICAL PURPOSES



International AML/CFT rules and guidance have been designed to help governments crack down on criminals and terrorists, but there are few guiderails to prevent states from abusing these tools to target political opponents. Given the membership of FATF and FATF-style regional bodies, and the Egmont Group of FIUs is practically universal, that means AML/CFT systems are available to authoritarian states.…

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CHINA'S GRAND PLAN FOR CENTRAL ASIA TO HAVE IMPACT ON GARMENT AND TEXTILE INDUSTRY



The China-Central Asian Summit that took place in China’s Xi’an in May could help cement links between China’s major garment and textile industry and central Asian textile suppliers, forging backward linkages and new markets, a manufacturer and two industry observers have told Just Style.…

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FATF WARNS THAT GOVERNMENTS ARE FAILING TO IMPOSE VASP AML RULES



The June plenary of the Financial Action Task Force (FATF), which wound up today (Friday June 23), has warned that almost 75% of jurisdictions worldwide are failing to implement its AML standards on virtual assets and virtual asset service providers (VASPs).…

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LAW PROFESSORS SAY TUNISIAN POLITICAL DETENTIONS IS HARMING TEACHING OF JURISPRUDENCE



 

Law professors, human rights lawyers and civil society groups have published a petition demanding the release of political prisoners in Tunisia, warning that such democratic regressions harm both the practice and teaching of law to the new generation of students.…

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CHINA TOBACCO LEAF IMPORT SECTOR GROWS, AS MANUFACTURED PRODUCT INDUSTRY EXPANDS VALUE SALES



The secretiveness with which China guards its tobacco news and figures – even of tobacco leaf production – says much about the state’s priorities under President Xi Jinping. This strongman leader who has of late prioritised security/repression over economic growth, has blocked the site of the China National Tobacco Corporation (CNTC), the national tobacco monopoly, to users outside China.…

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PAINT COMPANIES ADAPT TO EVERY TIGHTENING ENVIRONMENTAL LEGISLATION



As a chemical-based sector, the paint and coatings industry is particularly sensitive to changes to environmental regulation, and while governments have a duty to protect the planet and its human health, they need to avoid damaging manufacturers in the process.

Unfortunately for the British paint and coatings industry, the UK government has been failing to efficiently replace the European Union’s (EU) REACH chemical control system with a UK REACH, following Britain’s December 2020 exit from the EU.…

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MONEY MULING EXPANDS – EASY MONEY, FOR LITTLE RISK, WITH NO OBVIOUS VICTIM



The use of money mules moving dirty money worldwide continues to grow, with law enforcement, financial institutions and researchers continuing to highlight the problem. In the UK, 31,979 money mule cases were recorded in 2017; rising to 40,129 in 2018; 42,900 in 2019; and 40,353 in 2020; according to 2022 research published in the International Journal of Business and Economy (1).…

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HUMAN TRAFFICKING AND MONEY LAUNDERING



Human trafficking and modern slavery have grown exponentially in recent years: in 2021, 50 million people worldwide were estimated to be living in modern slavery, 10 million more than in 2016, according to the International Labour Organisation (ILO). (1) These crimes – sometimes referred to with the acronym HT-MS – are extremely profitable, ahead of narcotics and arms trafficking, according to Tarana Baghirova, programme officer at the Organisation for Security and Co-operation (OSCE) in Europe.…

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