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Anti-fraud agencies, financial institutions and central banks are working increasingly hard to fight sophisticated identity fraud, where fraudsters build an identity based on stolen IDs to open bank and credit card accounts. These comprehensive fake IDs – sometimes pulling together multiple identity elements and invented details – are often subbed ‘synthetic identity’ frauds.…

Counter Proliferation Financing (CPF) is becoming an increasingly important third goal of international policies and programmes designed to attack and reduce illicit financial movements. With concerns about the development of nuclear weapons by sanctioned regimes in North Korea and Iran growing, governments have been focusing on how to implement Financial Action Task Force (FATF) guidance on CPF, which has been deepening since the global anti-money laundering and terror finance body in 2020 amended FATF Recommendation 1 and its Interpretive Note to require countries and entities to identify, assess, understand and mitigate their PF risks.…

Anti-fraud agencies, financial institutions and central banks are working increasingly hard to fight sophisticated identity fraud, where fraudsters build an identity based on stolen IDs to open bank and credit card accounts. These comprehensive fake IDs – sometimes pulling together multiple identity elements and invented details – are often subbed ‘synthetic identity’ frauds.…

Global negotiators continue to chase the dream of an international agreement on trading food and drink products, despite talks having continued, without agreement, since 2001. That was when the World Trade Organisation (WTO) Doha Development Round of talks were launched, with the key goal of revamping the WTO agreement on agriculture, which covers food and drink.…

The use of artificial intelligence (AI) to better detect fraud during audits has been welcomed by anti-fraud professionals, major accounting practices, IT vendors and researchers, but experts also warn that AI needs be used carefully, especially regarding false positives.

An Association of International Certified Professional Accountants blog released in July 2022, cited a Maryland, USA, auditor Samantha Bowling, many of whose clients are non-profits guarding their reputation for probity.…

An ACCA co-hosted conference in Dubai has heard how today, Gulf Cooperation Council (GCC) bloc companies should not view meeting ESG (environmental, social, governance) standards as an optional add-on, which may help marketing, but as a prerequisite for commercial long-term survival.…

The founder of a shuttered New York-based student loan assistance company Frank, is facing both civil and criminal charges in parallel cases brought by the United States Securities & Exchange Commission (SEC) and Department of Justice (DoJ). These cases focus on alleged fake customer numbers used to clinch the USD175 million sale of the company by founder Charlie Javice to JPMorgan Chase Bank (JPMC) in 2021.…

NEW developments in cloud technology are helping packaging manufacturers worldwide compete. Digitisation is seen increasingly as an opportunity rather than a risk – experts have told Inside Packaging.

Digital or cloud-based solutions range from simple printers to whole document and artwork editing systems.…

An aging electricity transmission grid, hobbled by a complex planning and regulatory system, threatens the expansion of renewable energy in the US. To unlock the full emissions reduction potential of the Inflation Reduction Act (IRA), a Princeton University’s Zero-Carbon Energy Systems Research and Optimization Laboratory (ZERO Lab) report finds that “the pace of transmission expansion must more than double the rate over the last decade.”…

LABEL-MAKING automation is increasingly important to the global packaging industry. Indeed, the Wisconsin, USA-based global identification and compliance solution specialists Brady Corporation calls automated labelling a “must-have” – saying that the question is not if a company will automate its labelling process, but when (1).…