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The Hong Kong Monetary Authority (HKMA) has issued warnings relating to fake websites and/or phishing attacks on customers of three banks: China Citic, OCBC Wing Hang and Bank of China.

It's not a big-enough proportion: 14 of the USA's states Attorneys General are trying to obtain an order to prevent the implementation of a PoTUS Trump plan that they say will have a serious impact on the ability of the USA's Environmental Protection Agency or EPA to assess, amongst other things, the effects of climate change and the potential risks.

Editorial Staff

Stuart Dickson Produce Pty Ltd is a Sydney fruit and vegetable wholesaler. The company has been issued with an AUD10,500 penalty notice for buying produce from growers without a written "Horticulture Produce Agreement" (inevitably known as an HPA) in place. But, while the notice has been announced, the ACCC which issued and publicised it, doesn't stand behind it with any great force.

Editorial Staff
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Case Summary: 

A man has been convicted of money laundering after he and two others sold a house without the knowledge of its owner.

Money Laundering

Organised by Casino Essentials, a three-day conference and exhibition started in Las Vegas yesterday with the opening Keynote Presentation by Kenneth Blanco, Director, FinCEN. Before he got down to the nitty-gritty yesterday, Blanco was chummy with the lawyers and gaming industry reps and in his remarks prepared in advance he said "Thank you for that wonderful introduction, Jim" and "Thank you so much, Mindy, for inviting FinCEN to be a part of this event." So, chummy and psychic? How did the rest of his speech go? We know...

The Monetary Authority of Singapore has made a surprising change to the way in which Regulations are published, making the MAS website, and not paper documents, the source of record.

Editorial Staff
BIScom Subsection: 

When the USA passes laws relating to offshore income and assets, it's big news and around the world US citizens and those providing services to them get into something of a flap. But when the UK introduced, in November last year, a requirement for "anyone who has undeclared UK tax liabilities that involved offshore matters or transfers to disclose the relevant information about this non-compliance" there was barely a ripple. There should have been a storm because penalties are potentially devastating.

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FinCEN can't make its mind up. On 16 May this year, FinCEN granted to covered financial institutions a 90 day exception from the requirement to comply with the " Beneficial Ownership Rule for Legal Entity Customers." Leaving aside the fact that, as with the UK's draft Bill, the term "Beneficial Owner" has been co-opted from an entirely different area of law and is therefore a cause for confusion, FinCEN Is up to its old tricks of mitigating the effect of a Rule while pretending that the USA has a strong counter-money laundering regime. The 90 days is up and, guess, what? FinCEN has extended it. What is going on?

In a three year credit deal, the EBRD is lending USD (not euros, which might seem weird) to Bank CenterCredit (BCC - no comments please). The total amount is for a maximum of USD45 million. Special provisions are made for businesses run by women.

* Three-year loan of up to USD40 million provided to domestic small and medium-sized enterprises (SMEs)
* Three-year loan of up to USD5 million under Kazakhstan Women in Business programme

CoNet Administrator
BIScom Subsection: 

The Internet Crime Complaint Centre (IC3) has seen a growing number of reports about extortion attempts received by both e-mail and postal mail which use specific information about the potential victim to add authenticity. While there are many variations in these extortion attempts, there is often something common to the approaches, IC3 says.

Editorial Staff

Case Summary: 

A group of 14 hospitals in California and its founder have avoided conviction for a fraud that took place over an eight year period. A whistleblower made a report and will receive more than USD17 million as a reward.

Healthcare / Medicare fraud

Shell UK has been fined by the Aberdeen Sheriff's Court. The prosecution was brought by the UK's Health and Safety Executive after a technician was struck by a cylinder and left severely injured on the Brent Delta offshore platform.

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The Australian Competition and Consumer Commission (ACCC) has issued civil proceedings in the Federal Court alleging that biotech company Landmark Operations Limited, which trades as "Seednet." The ACCC alleges that Seednet made "false, misleading and deceptive claims in a fact sheet" relating to a variety of barley, known as "Compass," developed by Adelaide University and marketed and distributed by Seednet.

Editorial Staff
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On 5th July 2018, a UK company, Gin Festival Limited, went into administration and its website www.ginfestival.com was taken down .. So, what's this, then...?

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In late 2017, the Australian Transport Safety Bureau released its "final" report into the disappearance of Malaysia Airlines flight MH370. It was clear that the ATSB considered the issue unresolved but closed. A private enterprise search, with a contingency fee, subsequently ran for several weeks but turned up no further information. In the past few days, Malaysia's Safety Inspection Team 13 operating under the auspices of Malaysia's Ministry of Transport published what is called it's final report - but the transport minister says that, while searches have concluded and semi-final conclusions reached from the evidence gathered over...

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