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Would the European Union’s (EU) incoming planned digital product passports (DPPs) help consumers access and choose more eco-friendly clothes and increase sustainability in the European textile market, including used apparel? That is a question considered by brands and DPP providers, before, under the EU’s proposed 2022 ecodesign for sustainable products regulation (1), which is still under discussion, textile DPPs should enter the market in 2027.…

The paint and coatings industry is facing a major change in how it reports its activities to regulators and commercial partners, with sustainability reporting systems being formalised, internationalised and in some jurisdictions being made mandatory.

Indeed, 2023 was a major year for sustainability reporting systems, which tell companies how to declare their exposure to environmental and social trends, and their own impact on the world around them, both directly and indirectly through their purchases and sales, and via their supply chains.…

The Financial Crimes Enforcement Network (FinCEN), the USA’s FIU, has made progress on some key long-awaited reforms, including building its beneficial ownership reporting regime, and cracking down on crypto-currency mixers, even though some major AML/CFT holes persist – such as lawyer CDD/SAR filing.…

Overseas investment has played a significant role in shaping Romania’s clothing sector, with luxury brands such as Moncler, Canada Goose, or the fast-fashion global retailer Primark making strategic moves into the country’s manufacturing sector. In 2022, foreign direct investment into Romania’s textiles, clothing, and leather manufacturing industries reached EUR971 million said an official from the National Bank of Romania, the central bank, indicating continued interest from international investors, albeit slightly lower than the EUR978 million recorded in 2021.…

The European Parliament (EP) has approved a European Union (EU) directive negotiated with the EU Council of Ministers that will insist the 27 member states have appropriate regulations and procedures to freeze and confiscate the proceeds of crime.

This legislation was prompted by concerns that only 2.2 % of the proceeds of EU-focused crime are currently confiscated.…

The USA’s Securities & Exchange Commission (SEC) has released its long-awaited rule on enhancing and standardising climate-related disclosures by companies listed in the USA and those undergoing public offerings. The rule largely follows single materiality principles of measuring the impact of climate change on reporters, with filers having to report climate-related risks reasonably likely to have a material impact on business strategy, model, operations and finances.…

“Old wine in new bottles”, is how Canada-based Yong Li, advisor, for Canada-based financial crime consultancy The AMLShop, described many recent crypto-frauds.

Sam Bankman-Fried scheduled for sentencing on March 28 (2024) over crimes committed when running cryptocurrency exchange and crypto hedge fund FTX Trading Ltd, was in November (2023) convicted over two counts of wire fraud conspiracy, two counts of wire fraud, and one count of conspiracy to commit money laundering (1).…

India is integrating its textile and apparel industry more closely to achieve faster growth and become a reliable alternative to China and other Asian sourcing hubs for garments, sector executives have said at a major conference this week. Industry leaders from worldwide gathered in the capital New Delhi for Bharat Tex 2024, from February 26 to 29, discussing key issues such as sustainability and transparency.…

While crypto-currency-based fraud is often just a variant of scams committed using fiat currency, the increasing complexity of virtual money and asset-based systems also offer fresh opportunities for criminals to use deception to make money.

With former crypto-currency tycoon Sam Bankman-Fried scheduled for sentencing on March 28 over crimes committed when running cryptocurrency exchange and crypto hedge fund FTX Trading Ltd, the profile of crypto-fraud will be heightened worldwide.…

While the Baltic States’ metal can industry relies largely on imported packaging, the two industries which routinely utilise local production are the beverage (specifically beer), and canned fish industry. While there were far more production facilities today within independent Estonia, Latvia and Lithuania than when these countries were part of the Soviet Union until 1991, the sector has been declining.…