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The ability of computer algorithms to identify outlier behaviour and indicate potential fraud is becoming stronger as IT specialists, mathematicians and AI develop new applications and techniques, offering anti-fraud professionals better tools to unearth and prosecute financial crime.

A McKinsey report from November 2022 (1) noted how companies are using machine-learning algorithms to assess data to maximise fraud detection through reducing false positives and missed fraud.…

A UK Online Safety Act received Royal Assent October 26, in what consumer association Which? described (1) as “a major step forward in the fight back against fraud”. The new law (2) will authorise penalties for social media companies and search engines who fail to prevent their platforms being used for fraud – from false claims, profiles and promotions to misleading statements and counterfeiting, whether through user generated content or paid for advertising. …

THE EUROPEAN Union (EU)’s proposed new intellectual property (IP) rules to safeguard inventions (https://www.consilium.europa.eu/en/press/press-releases/2023/09/25/intellectual-property-council-adopts-two-positions-on-designs-protection-legislation/) will cut red tape and boost technology transfer, university research experts have told University World News (UWN). They praise the increased opportunity to protect new products.…

The Australian Federal Police (AFP) has led a major operation to take down a Chinese-organised ML syndicate, which the AFP alleges laundered Australian dollars AUD228.8 million (USD145 million) between 2020 and 2023. It had been hiding in plain sight within a Chinese currency exchange, alleges the AFP.…

Niger students admitted to French universities for the 2023-2024 academic year have been stranded in their home country because of the recent coup d’état. The French embassy in the capital Niamey says 1,200 Niger students are due to attend higher education courses in France for the new academic year, with 456 recently admitted for their first year of study and hence requiring a French visa to travel.…

Tunisia’s clothing and textile sector driven ahead with its near-sourcing export promotion, despite the political turmoil facing the country, where President Kais Saied has since 2019 suspended parliament, dismissed governments, imprisoned opposition leaders, undermining judicial independence and helped fuel anti-refugee and migrant violence.…

A tech-focused educational entrepreneur and author has told University World News that the rapid development of artificial intelligence (AI) should prompt a reevaluation of HE’s three Rs, away from reading, writing and arithmetic, and towards “rhetoric, relationships and reasoning”. This is because AI will undertake so much textual analysis and writing in future, education will need to ask: “Where is the unique value of a human?”…

THE EUROPEAN and global fashion and textile industry is witnessing rapid technological advancements, requiring garment workers with specialised skillsets, notably digital, to meet evolving demands. Indeed, the November 2022 State of Fashion 2023 report (1) from strategy consultants McKinsey & Co made clear that after 18 months of robust growth (early 2021 until mid-2022) post Covid-19, the fashion industry is facing challenges, including inflation, the energy crisis and rising material prices, that increases its demand for skilled labour.…

The China-Central Asian Summit that took place in China’s Xi’an in May 18-19 will positively affect Chinese textile and related input sourcing well beyond Central Asia, analysts’ comments and Chinese-language media reports indicate. China’s President Xi Jinping used the event, that was also attended by the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, to unveil an ambitious plan to help elevate Central Asia to the next level of its development — from building infrastructure networks to boosting trade (1).…

FASHION sector companies, across the value chain, are making continued efforts to leverage the potential of new artificial intelligence (AI) systems to boost sustainability through reducing waste and optimising production.  

Apparel supply chain experts speaking to Just Style have stressed how leading brands from luxury to fast fashion retailers are investing in AI to improve the efficiency and sustainability of their business models.…