Log In | Subscribe | |

A Parliamentary Bill in the UK goes through several stages: first the knockabout (if MPs are awake) in the House of Commons. Then it goes to a Committee Stage and then to the House of Lords. Although those bodies cannot, in effect, cancel the Bill, they can send it back to the Commons for various purposes. With cross-party support, the Bill passed with 498 votes to 114. That was closer than many would have liked.

Editorial Staff

The Sumatran Rhino is beyond cute but it's not fluffy so when it went functionally extinct in Malaysia in late 2015, hardly anyone noticed. Attempts to save it have been continuing for years with some successes and many failures. A small dedicated team refuses to give up. What, we wondered, could we come up with if we set our colleagues over at The Anti Money Laundering Network the task of the kind of identify-the-dots-that-don't-appear-to-join-up thinking they use in relation to financial crime that they use as the basis for leaps of faith, illogical jumps and a bit of over-the-horizon thinking. The results give some clues and where they led us was via the Sumatran Rhino to possibilities of producing humans to order to colonise other worlds. But first, let's start with the problems facing the world's smallest (but not pigmy) rhino.

Editorial Staff

Hong Kong Monetary Authority has issued a warning relating to a suspicious internet banking mobile application (App) related to Wing Lung Bank Limited.

Editorial Staff
BIScom Subsection: 

A Facebook campaign, apparently by a Hindu who seems to be acting alone or with a tiny number of supporters has tried to cause intra-faith trouble in Malaysia for the festival of Thaipusam.

Editorial Staff

It has long been a bone of contention in London that, in particular, US, Japanese and German banks set up local systems to comply with their head office measures, even where those fall short of requirements in the UK. In the case of US and Japanese banks, it's been a matter of arrogance. In the case of German banks, it started off as arrogance but that was complicated by the creation of "passported institutions" where a number of financial institutions have argued that home regulation trumps UK law and regulation. The FCA has had enough of that nonsense and has issued its biggest fine to date for money laundering control failures.

The UK's Financial Conduct Authority has published a table setting out "the total amount of fines so far." It's a head-shaking moment.

Editorial Staff
BIScom Subsection: 

Editorial Staff

When Richard Head passed through the security screen at Frankfurt Airport on Friday afternoon on his way to a weekend in Amsterdam, he was taken aside and questioned about the penis pump that the XRay of his bags showed. An officer insisted on a practical demonstration. It didn't happen, we weren't there, but we're telling you about it anyway.

[Free content for Chinese New Year]

Case Summary: 

Edward Majerczyk, 29, of Chicago, has been sentenced to nine months in a US Federal jail after pleading guilty to "a phishing scheme that gave him illegal access to over 300 Apple iCloud and Gmail accounts, including those belonging to members of the entertainment industry in Los Angeles."

Computer crime
World Money Laundering Report

Mariyah Chernykh, 26, gives her address as in Ontario, Canada but she is a Russian citizen. She and several others have pleaded guilty to a fraud that ties her and several others to a murderous attack on an in-house seminar being conducted in San Bernardino, California. The case demonstrates that assessment of suspicion should not be based on obvious, close, circumstances and the relevance of Know Your Customer rather than the narrow aspects of so-called Customer Due Diligence.

Case Summary: 

Right from the days of snake oil potions and the Carbolic Smokeball Company, charlatans have sold fake pharma to the gullible and the desperate. Amongst the most desperate, and the most gullible, are those who believed the claims by a company that it had a herbal preparation that increased length and girth of the penis and increased sexual performance. As a herbal preparation, the product sidestepped US Food and Drug Administration approval. Thousands of customers who paid a substantial amount for the tablets complained they did not work as advertised, or at all. The Department of Justice and other agencies had to take a look.

Money Laundering
World Money Laundering Report

German bank, Deutsche Bank has reportedly closed its correspondent relationships with National Bank of Kenya (NBK), a commercial bank. There are allegations of mismanagement and accounting fraud, plus suspicions of money laundering. Several members of the senior management team have left in recent weeks, not entirely voluntarily.

Sir John Hurt, CBE
was born on: 
22 January 1940
at: 
Chesterfield, Derbyshire,...
and died on: 
27 January 2017
at: 
London, England
Epitaph: 
Indefatigable. Resting now.
Editorial Staff

AS more than one seventh of the world's population celebrate Chinese New Year (not that they officially call it that in China), we thought you'd like to know that China's leaders and Donald Trump aren't talking to each other and this is what they aren't saying.

Openly.

---

Pages

 


 

Click the Ad! The link opens in a new page