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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.…

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.…

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.…

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.…

As construction ramps up, paint and coatings companies are eyeing lucrative opportunities in Indonesia’s new capital Nusantara, with several recent project launches promising a significant boost to the industry.

Outgoing President Joko Widodo recently inaugurated several key projects in Nusantara, including the emerging city’s international airport, hospitals, schools and housing.…

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.…