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Years ago, there was a cliché phrase that seemed to be repeated far too much: "a little knowledge is a dangerous thing." We need to relearn this for the benefit of society as a whole and for business in particular as comment-lite and narrow opinion is promoted as the norm across the whole spectrum of media.

Nigel Morris-Co...
Publication: 

USA: Deaths from opioid overdose continue to rise - and the problem has spread outside the USA

Almost anything we can write as a first sentence about this subject sounds flippant and that is absolutely not the impression we want to give. For sure, a recent press briefing from Tom Price, the Secretary for Health and Human Services is written in such poor English that at times one has to re-read it to work out what he is trying to say, and that's ignoring all the superfluous verbiage as he tries to sound interesting. But cut through the mass of chatter and vague statements and the hard facts are far more than merely interesting, they are disturbing: every year, the number of Americans who die from an overdose of legal pain-killers is more than the previous year and the numbers are big enough to become genuine statistics. For example, in 2015, approx half of all drugs overdoses resulting in death in the USA were from opioids. And that's not even the most fascinating fact, as other information shows.

Editorial Staff

Canada's Office of the Superintendent of Financial Institutions has issued a regulatory notice containing a reminder that there are a number of reserved words, particularly those relating to banking, which may not be used without authority, in relation to financial services. It goes far beyond the use of the words in the name of businesses and will tighten up sloppy language in marketing and so-called social media. It might, also, inadvertently, make the point that "fintech" companies are not banks and do not afford consumers the protection that governments provide to bank depositors.

Editorial Staff
BIScom Subsection: 

Unlike reporting suspected tax fraud to the IRS, reporting suspicions of customs duty or tariff fraud can be a simple matter. But if you want to claim a reward, it's far more complex.

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When you come across an American person or company, anywhere in the world, who is or appears to be failing to pay federal taxes properly due, under US law, you can make a report to the Inland Revenue Service and, in some cases, receive a very substantial reward - as much of 30% of the tax recovered. And it's independent of FATCA.

FREE CONTENT

Yes, yes, we know. Commonwealth Bank's got its problems over a failure to properly design and implement an automatic system and for not acting on the reports it did produce. But that's not the only thing bad that's happening down at the bank that has more short-forms of its name than we can keep up with. CBA, Commonwealth, CB, CommBank... so much for the usual rule of construction that if it's called something different, it is something different.

Editorial Staff
BIScom Subsection: 

Case Summary: 

Two men in the USA claimed to run a fund trading in gold option in Japan. The scammed friends for almost three million dollars, which, on conviction, one of them has been ordered to repay in full.

Securities fraud
World Money Laundering Report

The scandal over contaminated eggs originating in the Netherlands raises a serious question about one of the fundamental principles of the EU: the free movement of goods. Without taking sides one way or the other, we point out why this issue may be about eggs, but its ramifications are about something far more.

Here's why it's ironic that Brussels is in Belgium.

Editorial Staff
Publication: 

The UK's Serious Fraud Office secured a conviction against Ponzi scheme operator David Gerald Dixon in November last year. In addition to a jail sentence, he was ordered to surrender GBP275,000 in respect of proceeds of his crime. The deadline for payment has passed and the Order has not been satisfied.

Australia's superannuation scheme is popularly known as "super" and it has nothing to do with Reggie Perrin although, given the frequent problems with it, it might be the successor to Sunshine Des serts. Now an auditor of self-managed schemes has been banned after it was determined that he had "breached fundamental independence and audit requirements."

Editorial Staff
BIScom Subsection: 

The proof of Al Jazeera's mission to produce and broadcast material containing truths that many would prefer to keep secret is in the fact that it has become the poster-boy for the motto "you know you are doing something right when everyone hates you." As more and more pressure is brought to bear on a news network that is, today, a beacon of balanced reporting, even more than the now frequently partisan BBC, Al Jazeera finds itself the bit of news that produced an unguarded admission: Israel is working towards becoming a regional power by political collusion with several Arab states. It's a back-door assault on the GCC and, through that, the Arab League. That's not something Israel would...

Nigel Morris-Co...
Publication: 

National Australia Bank was a victim of a scheme under which a former employer secretly transferred financial planning clients to a company he joined, according to charges filed against him.

Editorial Staff
BIScom Subsection: 

This is such a massive topic that we can, today, do little more than make a placeholder article. How, one has to ask, does anyone "miss" tens of thousands of errors? We think it's probably not too difficult and banks, etc. should take note.

Editorial Staff
BIScom Subsection: 

Regulations implementing the Liquidity Coverage Ratio in China and the United States are assessed as “compliant” with the Basel framework, while the European Union is “largely compliant”.

Editorial Staff
BIScom Subsection: 

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