Log In | Subscribe | | |


GlobalKYC.com is crowd-sourced information for the financial crime risk management community.
Click here to add suspicious crypto assets to the Register

If one could ever say that a circuit has a soul, one must, surely, say that about Silverstone, the home of the British Grand Prix for almost every running of that race since Formula One was born. And if a soul can be resurrected, to come alive and celebrate, Silverstone did just that. As the F1 circus rolled into town and set up shop, the biggest question was if this would be the last F1 at Silverstone and, even, if there would be a British Grand Prix after 2019. While the terms of the deal are secret, it is likely that the British Racing Drivers' Club, the owners of the former airfield and Liberty, the owners of F1, have done a deal under which the cost of running the race is reduced. The deal makes sure F1 comes home for at least the next five years. Then the grand old dame of F1 shed all her cares and woes and partied and what a party it was..

CoNet Section: 

At the Financial Crime Forum's 2006 forum in Hong Kong, one session dealt with the trade in endangered species. With the very recent and belated acknowledgement by international bodies that such conduct is, in fact, a financial crime, there is a welcome focus on the profits from such trade rather than solely on the animals and their products. In the USA last week, a bizarre offence came to court but this time, the defendant says, it was nothing to do with profit.

FCRO Subsection: 

After the EU's fuss several years ago over horse meat in packs of beef, a fresh food safety and security issue has arisen with the result that the Philippines has banned all imports of pork from Germany.

When the drains backed up in a city centre sports block, the cause turned out to be a mix of rubber and fabrics, paper and plastic: wet wipes, a variety of tissue papers, sanitary pads, disposable (haha) nappies, Q-tips, various forms of bodily output, plasticised paper (burger wrappers) and condoms were to blame. It wasn't a fatberg, as sewer techs call the stuff they routinely have to remove, but the effect was the same. If disposable nappies aren't actually disposable by any sensible definition of the term, what about using "flushable?" That's a case that has just come to court.

Inernet research company Ookla has produced a map that shows where there is 5G mobile network rollout. Some is active, some is in testing and some is installed but not yet available. There are some places in the world that are pretty busy. But there is one very surprising country that has, according to the map, absolutely no roll-out whatsoever. See if you can guess, before opening the map, which country it is.

CoNet Section: 

Following consultation on a number of proposed legislative changes that were set out in Consultation Paper No. 124 the Dubai Financial Services Authority Board, after due consideration of consultees’ comments, made amendments to the DFSA Rulebook as described below. The amendments come into force on 1 July 2019.

BIScom Subsection: 

This fraudster pretends to be a partner with a London law firm called "Richardson Lawyer Chamber" - without realising that the name contains a grammatical error that raises suspicion within the first few lines. And then there's his name: "David T Duddias" - a format very rarely used in the UK. Finally, the mail is sent from a mail address which may or may not be real and may or may not be spoofed but it's in Japan which raises its own questions and his return address is with that current favourite of fraudsters, Outlook.com. As if that's not bad enough, the spam-scam is plain: he wants to commit a fraud against someone else and he wants your help to launder the proceeds. Obviously, what he really wants is to defraud you. Read the full e-mail below.

The European Union has long had institutions for dealing with cyber-security issues. But there's an update and new features. And there are a couple of things it tells us about the EU itself, such as its continued progress to become a country and to have central instruments of government rather than to rely on member states to comply with Directives. But, equally importantly, what the update does is set the scene for more restructuring in the future, if the EU works out that it needs to develop efficiencies and reduce duplication.

CoNet Section: 

Case Summary: 

It has long been the case that, however one defines it, "communities" are represented by physical or psychological boundaries within which members feel safe. But there are those that exploit that sense of safety and target members of that community because of levels of trust. It's all related to the "people like us," syndrome explained in the book Understanding Suspicion in Financial Crime. This case is an example of multi-million USD scheme perpetrated in such circumstances.

Type of conduct: 
Ponzi / Pyramid fraud

It's the stuff that, if it's a TV or film plot, makes one want to shake one's head and wish that fiction writers would make things a little less far fetched; one feels that belief cannot be suspended when the concept is, well, so unbelievable. Prepare to shake your head again - this time asking why you thought it was so improbable because something that you would not believe is already old hat and the first conviction has just been recorded.

BIScom Subsection: 

When Edward Warlopp left his office and walked, he walked in front of a moving lorry. The driver, taking care manoeuvring in a complex environment was paying attention his surroundings and did not notice that Mr Warlopp had walked in front if the lorry. Mr Warlopp was struck and suffered fatal injuries.

CoNet Section: 

Australia is big. Seriously big. It is also empty. Seriously empty. With an estimated 90% of its population clustered into a handful of coastal cities (and some of those being small compared to Sydney and Melbourne), the cost of doing business can be disproportionately high in provincial and rural areas. One might think that would favour the internet and, for non-perishable, non-urgent things that's probably true although, as in many countries, the cost of delivery dramatically ramps up the cost of products in sparsely populated areas. What happens when towns become too small to support reasonable returns for businesses? Logic says "close up or combine." Australian regulators question that policy.

Lewis Hamilton has long been amazing and he's just getting better and better. And still the public don't get behind a driver who is set to eclipse every record in F1 history - and has already done so in most. He is now beyond being statistically interesting: it seems like every time he gets in the car it's another milestone or another record. And that's before we consider his driving which has reached a level of excellence that is so good it doesn't inspire devotion. We are in the presence of greatness, a true star and one who doesn't cheat to achieve it (although he can be brutal when needed and sometimes has gone too far). His French Grand Prix 2019 demonstrated things that the naysayers won't be impressed by. They should be.

CoNet Section: 

How much use are listings in Google for marketing? Now as much as people like to think, especially if your business is outside the USA.

This weekend the GMA takes place. It's a huge, three day, affair and it's part of a music - tv - film industry of mixing, matching and deal-making event is very, very influential. And yet it doesn't show up on the first two and a half-pages of a Google search because either as GMA, GMA or even GMA ASIA TAIWAN MUSIC awards. Why? Because it's in Taiwan and because there are so many US GMAs that are listed over and over again in the early pages. 第30屆金曲獎 GMA, ( it stands for Golden Melody Awards) , despite now being in its 30th year, might as well be invisible so far as Google is concerned.

CoNet Section: 

Pages

 


 

Amazon ads

| |