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THE EUROPEAN Union’s (EU) anti-fraud office OLAF has unveiled a study that signals huge losses directly caused by corruption in public procurement. It identified how in 2010, between Euro EUR1.4 and 2.2 billion was lost in tenders within just five sectors in eight EU member states.…

CURRENT beliefs about victims of identity fraud are flawed, according to CIFAS, the United Kingdom’s fraud prevention service. Fraud and identity crime are most common and concentrated in the largest centres of population, but a CIFAS study contradicts belief that people in apartments or other multiple occupancy properties are more likely to fall victim to identity fraud.…

COAL might be regarded as the oldest energy source going, but it is still currently the world’s largest long-term source of electricity. It fuels around 40% of global electricity production, according to the UK-based World Energy Council, a United Nations (UN) accredited body representing some 3,000 private and public-sector member organisations across 90 nations.…

Venezuelan President Nicolás Maduro is seeking special powers to combat the country’s deep-seated epidemic of corruption; this while the country is gripped with severe economic problems, marked by shortages of consumer goods and a lack of foreign currency vital to the business sector.…

IT has been regarded as a hidden commercial crime – the losses to governments caused by corruption in public procurement. An OLAF report suggests its scale in Europe could be huge. Keith Nuthall reports.

THERE is no sugar coating these numbers: the European Union’s (EU) anti-fraud office OLAF has unveiled a study that claimed in 2010 alone, between Euro EUR1.4 and 2.7 billion was lost to corruption in public procurement tenders within just five sectors in eight EU member states.…

THE EXTENT of waste in Europe’s austerity-hit public health services was one of the ‘elephants in the room’ – a big issue seldom discussed – identified by a professionals’ conference in Brussels, Belgium, on September 4 and 5.

150 delegates at the European Public Health Alliance (EPHA) annual conference heard that, on average, between 3% and 10% of budgets for European Union (EU) national health systems was lost through waste, but in some cases could even reach 30%.…

TELEPHONE scams where fraudsters dupe people into revealing personal and financial information or into making payments into the crook’s account may have affected at least 4% of the United Kingdom’s adult population.

This is according to estimates from the UK financial industry joint task force Financial Fraud Action UK (FFA UK) which studied this form of phone fraud known as ‘vishing’.…

A powerful panel of United Nations experts called yesterday (October 1) on India’s central and state governments to halt the construction of a steel plant in the eastern Indian state of Odisha. The group claimed at an announcement in Geneva that the project, promoted by South Korean multinational steel corporation Posco, would displace more than 22,000 people and disrupt the livelihoods of thousands more in surrounding areas.…

While Syria is mired in its bloody civil war, it remains targeted by multilateral sanctions. But despite being essentially cut off from the international banking system, Damascus is evading these sanctions by using Russian banks, and is being financially propped up by Iran.…

INTERNATIONAL clothing and textile experts gathered near Shanghai last week (September 23-7) to discuss solutions to China’s twin challenges – dealing with less foreign demand, while managing rising production costs.

Speaking at the 29th World Fashion Convention, Shanghai, staged in nearby Kunshan, Texhong CEO Hong Tianzhu told delegates it was time for Chinese manufacturers to upgrade their plant and processes, while moving some production outside China.…