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Mumbai-based home textiles manufacturer and exporter Welspun India is upgrading and diversifying the use of an innovative technology system – ‘Wel-Trak’ – which tracks cotton through various stages of manufacturing. Patented in 2017, this digital solution provides complete traceability of the raw material’s processing and manufacturing history, from its country of ginning to, weaving and manufacturing, including shipping details.…

China’s fast fashion cross-border e-commerce fashion retailer Shein is little known within China but its profile overseas continues to rise, with Reuters reports estimating the company may have generated about Chinese Yuan Renminbi CNY100 billion (USD15.7 billion) in revenue in 2021 as the Covid-19 pandemic shifted global consumption online.…

Social media platforms and search engines are facing tough new sanctions after a new legal duty was added to the UK government’s Online Safety Bill to clamp down on fraudulent paid for adverts. The original draft provisions of the bill said search engines and platforms which host user-generated content, including text, video-sharing and live streams, were to have a duty of care to protect people from fraud, such as romance scams and fake stock market tips.…

With fraud levels booming – a PwC report released last May (2021) said 47% of more than 5,000 interviewees’ companies suffered an average of six frauds in the previous two years – anti-fraud professional salaries are growing. (1)

The Association of Certified Fraud Examiners (ACFE) will release its next anti-fraud sector salary survey in the summer, but Mason Wilder, an ACFE research specialist confirmed pay is “going up – as are most wages and salaries in professional fields”.…

A lack of renewable energy industry cybersecurity standards has seen green power producers “fly under the radar of regulation” when developing their systems and technologies, a senior US cyber-security consultant, and other industry experts, are warning. Peter Lund, CTO of Industrial Defender, a cybersecurity solutions provider for major utility and energy companies based in Massachusetts, USA, said these failings need addressing to avoid catastrophic outages, increased consumer costs or even crippled economies, as renewable energy becomes ever more important in power generation mixes.…

While fraud investigators benefit from emotional smarts and intuition, the ability to dig into online open-source intelligence – or OSINT – offers new practitioners an excellent way to scope out targets before subjects or witnesses are interviewed face-to-face. Mason Wilder, a research manager at the Association of Certified Fraud Examiners (ACFE), stressed how OSINT has been developed by experts of different disciplines and backgrounds sharing techniques to deliver an “almost limitless wealth of information and techniques that are incredibly valuable to investigators and often available free of charge.…

Pakistan’s retail banking sector is tapping into demand for Islamic consumer finance from religious-minded Pakistani expatriates via a government-backed digital accounts facility that enables remote buying of a property and a car in their home country.

In September 2020, the central bank, the State Bank of Pakistan (SBP), allowed the 8.6 million non-resident Pakistanis (NRPs) to open a bank account in Pakistan through a digital and online process, without any need to visit a bank branch in person.…

WITH around USD400 billion spent annually on AML compliance and government efforts to curb financial crime according to LexisNexis, AML experts are increasingly calling for more of this money to be spent on in depth and undercover investigations to follow money trails, delivering convictions and dirty money seizures.…

When France’s fast-food chain O’Tacos (www.o-tacos.fr) announced in 2020 that it would be selling in Italy its halal-certified French-style meat and vegetable wraps, Italian Muslims took this as a sign that halal was going mainstream in their country. O’Tacos’ first Italian outpost will open in January 2022 in Rome (delayed by Covid-19) and more openings in 2022 are planned in major Italian cities, including Milan and Bologna, said Yassin Baradai, founder of Milan-based Meem Communication (https://meemcommunication.com/…

Higher education institutions are being warned they could be a target for money laundering, with fees being financed by the proceeds of crime, including corruption, which might also buy property, cars and other items for students.

The problem has been highlighted in a series of reports.…