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Mavi, the Turkish denim giant, sold 9.7 million pairs of jeans worldwide in 2019, and, its chief executive has told just-style, has rebounded from the shuttering of the garment sector earlier this year with e-commerce sales doubling in its major markets.…

AMIDST the partial withdrawal of Cambodia’s tariff-free access to the European market that came into effect in August, the Covid-19 pandemic could not have come at a worse time for the country’s garment sector. Its clothing sales to the European Union (EU) – including the UK – alone plummeted 31% or USD403 million within the first six months (January-June) this year compared with the same period in 2019.…

Governments and banks around the world are doing too little to tackle tax abuses, money laundering and corruption, according to a United Nations report. A September 24 interim assessment from the High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI Panel) found that outmoded financial controls have failed to keep pace in a globalised, digitalised world.…

Countries exporting the most goods and services are also the worst at foreign bribery enforcement, according to the latest report from anti-graft group Transparency International. ‘Exporting Corruption Progress Report 2020: Assessing Enforcement of the OECD Anti-Bribery Convention’ finds that most countries assessed (34 out of 47), conducted weak or no enforcement of their foreign bribery laws, in part hindered by a lack of public information on beneficial ownership. …

The director of the UK Serious Fraud Office (SFO), Lisa Osofsky, has called for the introduction of new British offences criminalising failures to prevent fraud and tip off law enforcement about such crimes. In an October 8 speech on ‘Future Challenges in Economic Crime: A View from the SFO’ at the Royal United Services Institute (RUSI) in London, Osofsky ran through her “wish list for the SFO, if I had a magic wand”.…

IT goes without saying that can manufacturers and fillers have to comply with regulatory controls specifying how they make and fill cans, but maybe the biggest compliance challenge for the industry is following the world’s multifarious rules on food labelling. 

Canners and fillers with contracts to supply labelled cans have to take special care given these labelling rules do not just vary from jurisdiction to jurisdiction, (or even within jurisdictions), these regulations are a very dynamic topic – they change, often. …

THE CHINA Coatings Industry Association on September 14 published a draft standard for the manufacture and sale of antibacterial and anti-viral coatings – a key growth segment during the Covid-19 pandemic. The draft specifies the terms, definitions, requirements, test methods, inspection rules, labelling, marking, packaging and storage of coating products with antibacterial and antiviral properties.…

The Covid-19 crisis has had many negative impacts, and one has been the undermining of legitimate businesses. In countries with strong organised crime traditions, this has meant more opportunities for money launderers to subvert hard-pressed entrepreneurs or take them over, to use their businesses as fronts for cleaning criminal proceeds.  …

The Internet has hardly developed a reputation for honesty, but blockchain technologies where different computers log transactions in separate units, connected to a web of entries (blocks), are tough to falsify.

Of course, blockchain’s most high-profile use has been to underpin the reliability of cryptocurrencies, but the principle of this unchangeable and autonomous web of ledgers has so many potential uses – the tobacco sector has been exploring them.…

TRADE-based money laundering (TBML) is often hard to spot – that is why criminal networks use this typology. But a careful analysis of detailed trade data can reveal anomalous pricing flagging the possible presence of TBML. This is the key goal of a trade database created by a business professor at the USA’s Florida International University.…