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International organisations and academics are warning central banks to take AML/CFT into account as they develop central bank digital currencies (CBDC), although pressures to guarantee privacy might undermine such controls. According to 2023 research from the central banks’ central bank, the Basel, Switzerland-based Bank for International Settlements (BIS), 93% of central banks are now exploring or developing CBDCs (1).…

Knitwear brands in the European Union (EU) face additional due diligence on their supply chains after the EU Council of Ministers and European Parliament backed a proposed EU regulation allowing regulators to ban products made wholly or partly with forced labour.…

Modern technologies are paving the way for rapid advances in textile sector process efficiencies, where innovative solutions are cutting the amount of time, energy, labour and materials that typically go into garment production.

While many new systems are being rapidly adopted by an industry eager to reduce friction and boost margins, some of the most revolutionary solutions are still on the cusp of being widely adopted.…

The impact on criminality and money laundering of the comprehensive legislation of cannabis in Canada in 2018 is becoming better understood – while an expanding legal sector is squeezing an illegal market, illicit sales are still large. This is fuelling concern that criminals may be working with the legal sector.…

Artificial Intelligence (AI) has the potential to deliver higher education to students where they are geographically, supplying the most suitable type of learning, this year’s ASU+GSV Summit (Arizona State University/ Global Silicon Valley venture capitalist firm) was told.

Speaking in San Diego, USA, on Tuesday (April 16), Lev Gonick, ASU chief information officer, said AI is one of HE’s “enormous accelerators for the ability to learn both individually and to reorganise our institutions and organisations to accomplish that”.…

Digital textile printing in Germany is a steadily growing market, now standing at about 8% of the country’s overall textile printing sector, compared to 4% two years earlier, the Stuttgart-based research institute Deutsche Institute für Textil- und Faserforschung Denkendorf (DITF) told Digital Textile (1).…

In late 2024, the Financial Action Task Force (FATF) will celebrate 35 years as the global standard setter for anti-money laundering (AML) and combating the financing of terrorism (CFT) rules. It is an opportunity, say critics, to review and potentially reform its role in the fight against financial crime.…

Smart textile suppliers need to take account of electronics safety rules as well as regulatory controls and standards for regular fabric-based products can be a significant challenge, especially in Asia, where legal regimes may be less familiar to western companies.

But the importance of understanding these rules is clear given the extensive sourcing that continues in Asia, especially should smart textile product makers wish to sell their products in populous and often wealthy Asian markets.…

While the global footwear market is always buoyed by the basic human need for shoes, the supply chain difficulties caused by Covid-19 and Russia’s invasion of Ukraine, and the recent wave of inflation, has challenged the industry, especially high-end brands.

With inflation abating, manufacturers and retailers are starting to relax, however, with market researchers bullish about the footwear industry’s medium-term prospects.…

Textile factories need to start modernising immediately, not in the future – or they risk becoming obsolete in the face of new standards, new technology and increasing sustainability regulations a comprehensive European Union (EU) funded report has advised. ‘The Modern Textile Factory Report’ (1), compiled and led by Porto, Portugal-based Smartex, which offers digital and AI solutions to textile manufacturers with the aim of “empowering factories to produce with full traceability and zero waste” warned of an “approaching commercial and regulatory storm”.…