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Food fraud is a growing economic and health problem, but artificial intelligence and blockchain technology can help fight it

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A multi-billion-dollar criminal enterprise lurks among the many shelves of our supermarkets. Food crime not only hurts our wallets, but threatens public health. It includes actions comparable to mislabeling a product, replacing a food or ingredient with one other, inferior substance, and even poisoning.

This is a global problem resulting from the evolution of food crime. The complexity of food supply chains, the globalization of food markets and the shortage of transparency increase the vulnerability of the food sector. Therefore, it is essential to rethink how we combat food crime using technology.

Food related crimes are currently causing is estimated at $40 billion (£31 billion) damage worldwide yearly. British Food Standards Agency defines food crime as “serious fraud and related crime in food supply chains”.

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If we take into consideration food crimes with criminal perspective focused on profitwe can understand it double role each as a way for criminals to generate dirty money that should be laundered, and as a strategy to launder illicit funds from other criminal activities.

Seven sorts of food crime explained by the Food Standards Agency.

The food industry is particularly attractive to fraudsters resulting from its great potential profitable. Researchers have discovered two foremost approaches utilized by fraudsters in relation to high demand products.

First, they aim relatively low-cost on a regular basis foods comparable to bottled water and olive oil because they cover a large portion of consumers, which implies they can maximize profits. For example, a Spaniard and an Italian investigation in 2023 led to the confiscation of 260,000 liters of olive oil. Investigators found that olive oil labeled “virgin” or “extra virgin” had been diluted with a low-quality variety.

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Another example was Horsemeat scandal in 2013, when beef products were found to contain horse meat across Europe. There was multiple such meat 4 times cheaper produce.

Alternatively, some fraudsters trick undiscerning ‘gourmets’ into paying higher prices for cheaper food masquerading as a higher quality product – for instance low-cost camouflage truffles like exotic Italian truffles.

Unfortunately, our knowledge of those complex financial crimes is often limited, making detecting and stopping food fraud difficult. a demanding task.

Emerging technology

This was stated by the Association of Certified Fraud Examiners, a global anti-fraud body 91% of organizations world wide have used data analytics technology to answer the growing risk of economic crime. This technology is promising because it can dig hidden patterns in huge datasets, leading to raised crime detection and prevention.

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For example, machine learning can analyze data and discover suspicious activity. It can also learn and adapt as recent information becomes available. In the context of food crime, this may increasingly include flagging specific locations, people or corporations that will pose a risk.

Evidence on this topic is limited, so we imagine that further research ought to be carried out to research previous cases of food fraud. Identifying recurring themes and patterns using machine learning could enable the event of a higher detection model, which, when combined with the expertise of regulators, food manufacturers, distributors and retailers, may very well be a powerful tool.

A Dutch food inspector carried out a meat inspection in 2013 after receiving information that beef products across Europe contained horse meat.
Images by Erik Van T./EPA

Researchers suggest the food industry is undergoing a potential change blockchain technology could enable consumers to make higher decisions when purchasing food. Blockchain is like a secure public ledger that can’t be manipulated. This technology subsequently enables anyone, from supermarket chains to individual consumers, to simply and reliably trace food back to its origin. Imagine with the ability to make informed selections at the shop, knowing exactly where your food comes from.

IN AustraliaThe adoption of blockchain technology by some manufacturers in recent times is expected to help solve the multi-billion dollar food problem wine fraud. AND recent research found that blockchain data security and data corruption tolerance are essential features underlying its potential to combat food fraud.

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Collaboration is key

While recent technologies hold promise within the fight against food crime, they do exist gossip overcome. For example, implementing blockchain across the worldwide food supply chain faces challenges challenges including the shortage of international standards and difficulties in processing huge amounts of information. Blockchain technology may require additional technology, making it expensive for small food producers.

Ultimately, the important thing to combating food fraud is collaboration. We must unite law enforcement, industry professionals, organizations of all sizes and scientists, each with appropriate ethical oversight by their institutions.

Any anti-fraud measures mustn’t make it significantly tougher for consumers to buy food. If the method becomes too burdensome, people may find ways to get around it, which could create recent loopholes within the food system.

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This article was originally published on : theconversation.com
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Business and Finance

Tariffs can grow, but also a black strategy

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With the rise in inflation and tariffs, black entrepreneurs don’t shrink with fear – they seem, strategies and support them forward. I saw it first hand on Tuesday evening in Russell Innovation Center for Entrepreneurs (Rice) in Atlanta, where dozens of black founders gathered on a powerful night of dialogue, combination and brightness based on solutions.

The event, a part of the continuing programming of Rice’s “retail readiness”, was greater than just a panel. It was a forum of survival – and a reminder that owners of black firms at all times had creativity and courage to adapt under pressure. At a time when economic winds are essentially the most difficult to hit products based on products, this community is predicated on strategy, not a shortage.

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Tariffs have increased, but wisdom too

One of the essential challenges was the growing load of tariffs for imported goods that increase costs around the globe – from materials and packaging to international shipping. While the specter of economic uncertainty increased, the climate within the room was not panicked.

Asked in the event that they are afraid of growing tariffs, only a few participants raised their hands. But asked in the event that they feel influence, almost everyone did that. Instead of alarm bells, the conversation focused on solutions: improvement of logistics, taking control of the warehouse, limiting unnecessary expenses and re -assessing third party suppliers.

The prevailing message: be agile, not afraid. Panelists called us to regulate surgery before making drastic changes. The goal is just not to shrink in response to pressure – it moves smarter.

Thinking about a larger, no less

Another powerful? You have to redefine what “little business” really means. Many black entrepreneurs limit their scale from habit or perceived restrictions. But, because the panel noted, in response to federal definitions, a small company can employ as much as 500 people. This implies that we’ve got a place to dream – and constructing – constructing.

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Terri-Nichelle Bradley, the founder, entered the home along with her own journey. Known for putting educational toys within the principal retailers, akin to Target, Bradley now opens her own brick store in Atlanta on May 14. It is a brave turning point that restores ownership in her hand-her story was a unique example of what it means to regain narrative and strategy.

“Black business owners do not need every answer right away,” she said within the room. “We just have to want to figure it out.”

Recovering the narrative of Dei

The conversation also concerned a hard truth: the rise in funds and guarantees of the corporate after 2020 is assumed. But the energy within the room was not bitter – it was focused. If external support dries, the reply is just not waiting – it’s best to focus again.

Daughter of Carol sold an independent entrepreneur after a decade under the property of L'Oreal USA

Panelists encouraged us to dual authenticity and a deeper reference to the communities that may already take us. This means consistently appearance, without floating and nurturing relationships with those that deliberately buy black, women and veterans.

It is just not nearly representation-it will devote property, self-determination and economic independence.

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The evening ended with a high note with practical network activities. We were asked to avoid wasting two things: what we wanted and what we can offer. Then we exchanged this information with someone in the entire room. It was greater than a icebreaker – it was a plan.

The message was crystal clear: relationships are resources. And in such rooms, cooperation is a currency.

At a time when the headlines speak about recession and withdrawal, the entrepreneurs with whom I sat do the other. They should not waiting for saving or wonderful financing. They construct their future, one deliberate movement directly.

No panic. Just a goal. And a lot of power within the room.

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This article was originally published on : thegrio.com
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Business and Finance

Hope Operation celebrates the day of green socks

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John Hope Bryant


Operation John Hope Bryant Hope celebrated the end of the month of financial knowledge On April 30 with Green Socks Day Challenge as a visual option to emphasize the importance of financial knowledge.

As a nationwide movement, Hope Bryant and the stars of the corporate world, sport and entertainment supported the challenge of Green Socks Day, wearing live socks, stating: “Put your best foot forward.” In cooperation with Operation Hope, the initiative was supported by financial knowledge for everybody (FL4A) with a view to promote financial knowledge as national priority and gain adhesion in various state lines, strengthening people, organizations and communities to take crucial activities by supporting financial education for everybody.

Participants were encouraged to take a selfie or video in green socks and publish it in social media using the hashtag # Greensocksday. The quiz can also be available to people fascinated about assessing their financial skills. According to a press release, Operation Hope will probably be distinguished by green socks on the Times Square Nasdaq in New York.

While socks may be bought at Walmart locations, other firms supporting this initiative include the most important financial institutions, comparable to the American Bank, Trust and Huntington Bank. Other firms on board are iheartmedia, Delta Air Lines, MLB, MLS, NBA, NHL, Nascar, Nasdaq, Shopify, OpenAI and UPS.

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Hope Bryant also received support from the US government at the starting of the annual celebration. Meeting with the Secretary of the Treasury Scott Bessent, two long -time colleagues emphasized the importance of financial education built into the structure of American life, discussing ways of deepening cooperation between private and non-private sectors with a view to extend access to financial tools and knowledge. “Too long, knowledge of finances was treated as a luxury,” said secretary Bessent.

“This is a necessity, just like reading and writing. John and I have been leveled in this for almost a decade and I am proud that I can stand with him in April and later.”

In addition to April, corporations, small firms and social organizations are encouraged to have interaction employees in the initiative by organizing events related to financial skills and pushing financial resources.

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This article was originally published on : www.blackenterprise.com
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Business and Finance

John Hope Bryant shares the rent into his own strategies

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John Hope Bryant


John Hope Bryant, founder and general director of Hope operations, recently shared his rent strategies, which in his opinion provide tenants with “dignity, possibility and grace.”

Bryant still conducts efforts to fill the gap in the field of racial wealth by promoting financial skills and increasing the ownership of a black house. Financial teacher he outlined compassionate and Surprising plan to assist tenants Not only construct your credit results, but in addition prepare for potential Financial difficulties. The entrepreneur was once “the largest owner of the minority of single -family houses in the country.”

  • The tenants’ rent will likely be reduced by 10%in the event that they raise their creditworthiness from 600 to 700
  • If the tenant maintains his place of residence for 18 months, he receives 1 month “Life Event Credit” for an 18-month term. This corresponds to 3 months of “free rent” in the event of monetary difficulties.
  • Tenants are also in a position to borrow from the security deposit, paying off the money in small increases over time.

Hope operation has grow to be a number one organization non -profit Dedicated to financial reinforcement. Under Bryanta’s leadership, the organization facilitated over $ 2 billion in private capital to support home properties, small corporations and community development in underestimated areas.

Despite these efforts, black home properties remain much lower than in the case of white Americans. Black home owners from 2024 it accounted for 46.4% population. However, the total variety of houses is 65.7%, said Axios.

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Bryant emphasized the importance of getting a house in Building generational wealth.

“The whole experience related to home properties is embedded in aspirative economic growth and creating wealth,” he said in the last post on Instagram.

Bryanta’s work with Hope operation still raises the black community. The organization equips individuals with knowledge and tools mandatory to realize financial stability and residential owner. He also divides financial strategies in its weekly podcast,

Due to the incontrovertible fact that efforts are in a position to bring a racial gap, Bryanta initiatives remain a central force in promoting financial skills and economic possibilities in black communities.

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(Tagstranslate) John Hope Bryant

This article was originally published on : www.blackenterprise.com
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