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A report in The Law Society's Gazette about a male Judge's comments to a women's group meeting has raised the hackles of working men in the solicitor's branch in England and Wales. So who is to blame? The judge for making the comments that can be rightly regarded as sexist or the Law Society which after decades of being "right on" or whatever the current phrase may have finally gone too far in its apparent approval of the Judge's comments? Or perhaps both.,

Editorial Staff
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A man who, through a corporate entity, operated off-street parking schemes on premises owned by a fund to raise money for former servicemen has been arrested after an investigation discovered that he, allegedly, failed to account to the fund for as much as USD11 million over a period of years.

If you are planning to spend money for the Alibaba-inspired "Singles Day" on 11 November, be warned. Fraud happens and when it does, you have little or no recourse from any of the companies behind the scheme, and little or no help to try to recover your losses. But even more than that, the case shows how mobile payments are inherently risky and are ready channels for fraudsters to use.

When Miss B, a resident of Shanghai, posted an advertisement on Xianyu, the Alibaba-owned equivalent of e-Bay, and a division of Taobao, she was delighted to receive a response almost immediately. Someone wanted to buy her barely-worn designer shoes for the asking price. Then the fraud started and Taobao / Xianyu, WePay and AliPay have failed to act, leaving her substantially out of pocket when, had they acted promptly, her losses would probably have been recoverable.

Editorial Staff

The Solicitors' Disciplinary Tribunal (which, trendily, omits the apostrophe when it writes its own name) has levied its largest fine ever. Like the previous largest, it's against the London office of a US law firm.

Editorial Staff
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Almost every couple of weeks, we hear that Airbus is not achieving orders, that its order book is depleted, that if it doesn't get orders soon it's going to crash and burn. The biggest comments are directed at the biggest aircraft: the A380 with "no new orders, A380 is a failure" being the general drift.

But here's the thing: Airbus has orders in abundance: indeed, it could not satisfy its existing orders within a year if it tried.

Editorial Staff
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The final (of three) part of World Money Laundering Report's analysis of the Manafort and Gates case and its implications for the financial services and other regulated industries.

Having failed to buy a stake in American Airlines (did anyone understand that proposal?) Qatar Airways has signed a deal to purchase just shy of 10% of Cathay Pacific Airways - but there is still a fraction under 75% in Swire Group hands.

Editorial Staff
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Here, in this three part article, World Money Laundering Report examines the charges, the background and the impact on financial services and other regulated businesses.

We've been here before, or have we? Just six weeks ago was the tenth anniversary of the USA listing Banco Delta Asia of Macau and Hong Kong as being "of primary money laundering concern." But there was scant evidence of wrongdoing by BCA and what there was turned out to be largely made up. Is the Bank of Dandong, a mainland Chinese bank, any more culpable or is the USA back on the track of weapons of monetary destruction that don't really exist?

Editorial Staff
BIScom Subsection: 

The Financial Crimes Enforcement Network (FinCEN), which also has a regulatory function, has applied a USD3 million civil money penalty against Lone Star National Bank of Pharr, Texas, for failing to properly comply with the requirements of the Bank Secrecy Act - as found in s312 of the USA PATRIOT Act.

Editorial Staff
BIScom Subsection: 

Continuing our analysis of how Australia's Proceeds of Crime Act provides a mechanism for successful money laundering.

See Part I here

Late-stage money laundering is after the proceeds of criminal conduct have already been through a series of transactions to hide, move and even invest them. As the proceeds move further away from the original source, their origin is obscured but they are still not safe. Late-stage laundering usually involves using financial institutions or jurisdictions that are known to have good systems in place and therefore the next move is with the benefit of their reputation. Australia, on the other hand, provides - enshrined in its law - a safe haven that provides positive encouragement to launderers to place late-stage laundering there.

Part II here

Was it madness, bravery or simply feeling that all the bad stuff that could happen had already happened? Lewis Hamilton, so often almost dismissive of his achievements, is collecting records, awards and accolades with every race. But in Mexico Hamilton, directed to the place where the top three cars were parked despite finishing ninth, was beside himself with joy. Unable to give a proper interview to the persistent and increasingly irritated David Coulthard, all Hamilton wanted to to was to get back to his team. And so, as the crowd swarmed onto the track, he turned and ran. There was no personal security, no looking around: just Hamilton running the long way back without a care in the...

Bryan Edwards
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Publication: 
Bryan Edwards

Kuala Lumpur has many bars, some well known, some almost secretive.

Here's the five we think you might find a bit more fun than the overcrowded tart-ridden bars that everyone always talks about.

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