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Financial Crime News

This spam-scam is remarkable. It's as if the sender thinks that by throwing everything at the wall, something will stick. But for the even slightly alert, it fails before the target even opens it.

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Clearview AI Inc. is a company that collects facial images from a disparate range of sources and makes them available to its customers.

The UK's data protection department, the Information Commissioner's Office, has banned the practice within the UK. The UK acted in concert with the Office of the Australian Information Commissioner. The investigations focused on Clearview AI Inc’s use of people’s images, data scraping from the internet and the use of biometric data for facial recognition.

What effect might that have on remote verification?

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A Los Angeles man was sentenced this week to 240 months in federal prison for operating a Ponzi scheme that raised at least USD650 million with bogus claims that investor money would be used to acquire licensing rights to films that HBO and Netflix purportedly had agreed to distribute abroad.

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It's been modified from the advance fee fraud e-mails that we are used to and someone has been to writing lessons.

It starts with an unusual approach, then moves into the same technique as we've seen from this name dozens of times over many years.

Oh, and he uses UN.ORG as the "from" address. Cheeky.

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Don't miss our round-up of our top five financial crime risk and compliance (and adjacent) stories this morning.

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This morning, a spam-scam arrived claiming that a subscription had been renewed.

Then a few minutes later, we came across a news article that had something in common.

Is it pure coincidence?

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Luke Raven, Compliance Manager with Wise, Australia, outlines the failures of the Senate Committee on Australia as a Technology and Financial Centre to come to terms with one of Australia's pet technology topics: fintechs.

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Tyrome Lewis, who organised and led a gang with the media-nickname "the Oxy-Bandits" that committed 15 armed robberies of independent “mom-and-pop” pharmacies throughout Southern California, has been sentenced to 240 months in federal prison. He was convicted earlier this year and sentenced yesterday.

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The Carbolic Smoke Ball case gave carte blanch for businesses to lie so long as they didn't go too far.

But that related to the efficacy of their products.

Here's an extraordinarily blatant lie that is so common that it's a surprise that it's not stamped on as a matter of policy.

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adviserangelo0@gmail.com (Advisor Angelo) writes under the subject line "VERY URGENT!!!!!!!!!"

Obviously, one has to pay careful attention to such a missive.

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The situation in Afghanistan is appalling. Exactly how appalling, we cannot know unless we are present. As journalists fly in, report from the tarmac or, in one case, from just outside the airport gates as bullets flew, we get a multitude of one-dimensional pictures that create a collage but not a cohesive whole. Stories of abuse are rife but on the other hand so are stories that the Taliban is far from the version of 20 years ago. All we can say is that the situation is extraordinarily complex, dangerous and it's likely to become far, far worse.

In the middle of all of this, a mail arrives. It's headed "Urgent request from Mohammed."

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