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Chuck Berry
was born on: 
18 October 1926
at: 
St Louis, Missouri, USA
and died on: 
18 March 2017
at: 
St Charles County, Missouri,...
Epitaph: 
Bad boy made good music

Case Summary: 

For an introduction to this case, and some of the matters arising, see "A gem of a financial crime".

Consumer fraud
Editorial Staff

It's good when some novel conduct comes up: it helps FCROs and others avoid terminal boredom. One that's appeared in Australia might not be new but it's uncommon enough to be interesting - and it's carefully designed to be difficult to spot as it takes place within the ordinary course of business. For those in "all-crimes" jurisdictions, it's something new to try to watch out for.

In the history of acronyms, we had KYC then KYE.. customer then employee.

There are several matters of grave concern to Banks regulated by the Federal Reserve Board, both domestic and foreign.

The USA's Federal Reserve Board is planning to fine and issue prohibition orders against two former Managing Directors of J. P. Morgan Securities (Asia Pacific) Limited. It follows on from the Board's fining of the bank in November 2016. The offence? Excuse us while we choke on our own laughter: giving jobs to the boys. But they did it in China. On Wall Street, it's standard operating procedure, as it is across a wide range of industries in the USA. There are several matters of grave concern to Banks regulated by the Federal Reserve Board, both domestic and foreign.

Editorial Staff
Publication: 

Credit Suisse Equities (Australia) Limited (Credit Suisse) has paid a penalty of AUD170,000 to comply with an infringement notice from the Markets Disciplinary Panel (MDP).

Editorial Staff
BIScom Subsection: 

Case Summary: 

An officer with US Customs and Border Protection was engaged to check incoming and outgoing international mail for breaches of various laws. That was a golden opportunity for a criminal.

Other financial crime
World Money Laundering Report

New legislation introduced into New Zealand's parliament yesterday will plug some surprising holes in the country's counter-money laundering laws. But it's important to recognise that New Zealand has some special problems that, in essence, mean that this developed economy should be measured against developing economies when regulatory, etc. rules are considered, says Nigel Morris-Cotterill. The Bill contains one major foul-up, he says.

The Monetary Authority of Singapore has today announced that it has made prohibition orders against a former Goldman Sachs director and plans to make orders against three other persons as a result of their involvement in the 1MDB scandal.

Editorial Staff

Robert Kelley is a senior lecturer (in the American style, they call him an Associate Professor) at the University of Busan in South Korea. Contacted by the BBC, he started to give his views on the success of South Koreans as President Park was impeached and removed from power. Then, it all started to go.. well, some might say wrong but others would say his family are real tv stars, not reality tv poseurs. (free content)

John Surtees
was born on: 
11 February 1934
at: 
Tatsfield, Surrey, England
and died on: 
10 March 2017
at: 
London, England
Epitaph: 
Still the only person to win world championships on two wheels and four.

We would love to know more about this: an individual apparently in France, wants to raise GBP60,000 to hire two developers to produce software that he hopes he will be able to sell to banks

We looked up the domain used for this spam-scam: samba-bank.co.uk. There's something not quite right about the available information but it's too limited to be sure that the domain has, either, been critically compromised or that it has been obtained by fraudsters. But it's not the first spam we've had that uses this same domain. Perhaps someone from Samba would like to tell us if the domain is, in fact, under their control. The spam-scam, itself, is interesting, too. It's the first time for a while we've seen a 1970s style Nigerian Scam letter and even the language is in the old style...

Editorial Staff
BIScom Subsection: 

Continuing World Money Laundering Report's Analysis of the USA's review of 2016 for its 2017 International Narcotics Control Report. In this Part: selected Country Notes. Comment and commentary, not simply reportage.

IN THIS PART: Afghanistan, Albania, Algeria.

For all articles in this series, see US-INCR2017

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