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India’s Birla Cellulose, a world leader in producing viscose staple fibre, is targeting improvements in production sustainability. After achieving production of fibre comprising 20% textile waste and 80% wood pulp from certified sustainably grown and harvested forests, Birla Cellulose now plans to raise the proportion of waste in inputs to 30% textile waste, with the goal of producing 100,000 tonnes of this circular fibre across all categories in its products by 2024.…

Business email compromise (BEC) fraud is growing so fast worldwide, it is regarded by the USA’s Federal Bureau of Investigation (FBI) to be “a major threat to the global economy”. In a report written for the US congress last November (2022), the FBI said in the USA during 2021, the Internet Crime Complaint Center (IC3) received BEC-related complaints with claimed losses exceeding USD2.4 billion, and USD43 billion between July 2016 and December 2021 (1).…

Luxembourg’s strength as a financial sector has brought the world’s only sovereign grand duchy great wealth (USD133,000 per head in 2021, said the World Bank), but it has also generated scrutiny on how it monitors investors, companies and bank depositors for AML exposure.…

At the end of 2022, the Chinese garment industry found itself in a conflicting situation: on one hand, the abrupt abandonment of strict Covid-control measures in December fuelled hopes that Chinese consumer demand will grow steadily. But on the other hand, many factories preponed and extended the Chinese New Year holiday to shield their owners’ financial standing from the risk that manufacturing capacity would remain underutilised.…

An International Sustainability Standards Board (ISSB) symposium in Montréal, Canada, has heard how accounting standards experts are striving to build a “global baseline” of regulation based on ISSB standards, despite the contrasting guidance being developed worldwide.

Speaking at the event on Friday (Feb 17), Mark Carney, UN special envoy for climate action and finance, and former central bank governor for the UK and Canada, said of the baseline: “It’s critical.…

Factory digitisation, including the emergence of Internet of Things (IoT) technology, has increased big data availability by “at least two orders of magnitude from what was available a couple of decades ago,” said UK-based AI-driven predictive maintenance software provider Senseye chief technology officer and co-founder Robert Russell.…

Knitwear brands have been progressively investing in mentorship and incubation programmes, hoping the resulting inspiration will widen their offer with creative products, reach more consumers and promote innovation in their work methods.
London – one of the big four fashion cities, alongside Paris, New York, and Milan – is this month (November) hosting the first collection of products made through the Atelier100 hyperlocal hothouse programme, at the brand’s retail store in Hammersmith (west London) (1).…

Innovation in athleisure gear continues to drive performance improvements, with an eye to boosting sustainability, as consumers become more environment conscious, and regulation toughens up.

Of course, making such improvements is no easy feat today given the entire supply chain is facing “unprecedented challenges,” warned Davide Vigano, CEO of tech textile manufacturer Sensoria, based in Redmond, Washington state, USA, as shipping delays hinder the delivery of components, and transport prices increase as energy costs also soar, pushed up by Russia’s bloody invasion of Ukraine. …

How to launder a sack of ill-gotten cash is a question that does not just stretch the imaginations of law enforcers and AML officers, it can and does prompt useful assessments by professionals in other fields.

The question of how to launder USD1 million in dirty money is, for instance, a popular thread on the international online Q&A service Quora, with 84 answers.…

High value banknotes remain of concern to AML regulators, even though they are increasingly being withdrawn from circulation. Despite the growth of electronic payments, the amount of physical cash in circulation remains huge. The USD remains the currency that circulates most widely in the world, with the US Currency Education Programme (a Federal Reserve scheme) saying that there was USD2 trillion in circulation by the start of 2021 (December 31, 2020).…