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The exchange of intelligence is a key element of AML/CFT, with FATF’s recommendations 36 to 40 focusing on international cooperation. The Egmont Group of FIUs also continues to hone how it securely delivers exchanges of sensitive AML/CFT information between its 167 members.…

The United States Department of Justice’s top priority for corporate criminal enforcement will be “going after individuals who commit and profit from corporate crime,” Deputy Attorney General Lisa O. Monaco announced in a policy statement made September 15 (1). “Whether wrongdoers are on the trading floor or in the C-suite, we will hold those who break the law accountable, regardless of their position, status, or seniority,” Monaco said unveiling new DoJ law enforcement priorities (2).…

The benefits to knitwear manufacturers of investing in sophisticated machinery and software may be undeniable, but when an industry can call on a large pool of cheap human labour, companies need to see clear financial benefits from acquiring such tech.

This dilemma is particularly stark in south Asia textile and clothing outsourcing centres, where labour can be particularly low cost.…

Anti-fraud professionals are offered substantial amounts of training, conferences and mentoring – but a lot can be learned the old-fashioned way – with an informative book. There are guides for the relatively uninitiated. Take ‘The Complete Idiot’s Guide to Private Investigating, Third Edition: Discover How the Pros Uncover the Facts and Get to the Truth’ by Steven Kerry Brown.…

Fraud is sometimes downplayed as a ‘victimless crime’, especially when companies are the direct victims. While that is obviously untrue, frauds associated with food that can directly harm consumer health give the lie to this statement. It is one reason why food fraud is a clear priority problem for international policy makers.…

In late-July, the European Investment Bank (EIB) agreed on the financing structure of NeuConnect, the first ever energy link connecting Germany and the United Kingdom, two of the largest electricity markets in Europe. The investment to build the interconnector will amount to EUR2.8 billion, with the EIB set to contribute up to EUR400 million for the financing construction of the section within the European Union (EU).…

The need to reduce the environmental impact of the dairy sector, promoting sustainability, may limit the growth of the industry internationally, but the world’s largest milk producer, India, is projected to double its turnover within the next five years, a global conference has been told.…

The Indonesian government is ramping up its requirement for government-funded construction to use locally-made products by insisting paint and coatings manufacturers seeking to supply such projects use national standardisation and certifications.

This, said the chairman of the Indonesian Paint and Coatings Association, Markus Winarto, is part of a trade ministry directorate general of chemical, pharmaceutical and textile industries campaign to reduce imported products.…

The Big 4 accounting groups (Deloitte, EY. KPMG and PwC) have joined with 161 major international accountancy and business companies, partnerships and organisations to call for a coordinated approach by promoters of international sustainability standards. A joint statement developed by the International Federation of Accountants (IFAC), the World Business Council for Sustainable Development (WBCSD) and Principles for Responsible Investment (PRI) said the International Sustainability Standards Board (ISSB), the US Securities & Exchange Commission (SEC) and the European Financial Reporting Advisory Group (EFRAG) should work closely together.…

With ongoing floods and high rainfall in most parts of Pakistan damaging its economy, the country’s textile and clothing sector, accounting for nearly 60% of national exports, is bracing itself for the potential cancellation of export orders by international buyers.

The initial assessment of losses inflicted by the devastating rains and floods especially in Sindh and Balochistan provinces and to a lesser extent in Khyber Pakhtunkhwa (KPK) and Punjab provinces, has already been estimated by the federal government at billions of dollars (it is working on a more precise estimate), with displacement of 33 million people, 1,400 deaths (including children), the destruction of hundreds of thousands of houses, roads infrastructure and communication networks.…