If someone describes themselves as an "expert" or a "thought leader" in relation to, let's say, financial crime or FinTech or even on-line banking, ask them this - and don't give them time to look up the answer: "what's Q-Coin?*" And, is Second Life about to get a second chance as a potential money laundering vehicle?
HSBC's takeover of Midland Bank was a nightmare of regulatory challenges. Now, 25 years after eventually being taken over, the last little bit of Midland identity is being removed.
When the most powerful anti-corruption body in a country as big and as corrupt as India tells banks to shape up and go back on dodgy deals to ensure recovery, the results may turn out to be shocking.
The rising tensions between North Korea and the USA are reaching a desperately disturbing yet ridiculously comical level. Here is a false conversation between the Supreme Leader of each of those countries.
In Mumbai, a special money laundering court is the venue for the laying of charges against Vijay Mallya and 8 co-defendants. Mallya is described in Indian media as a "fugitive" because he left India for the UK where he lives in considerable luxury although he had divested himself of many assets including, reports suggest, at least some of his interest in the Force India Formula One team. The Court seems to agree..
The appeal in Abdul Ghani bin Tahir -v- the Public Prosecutor of Singapore resulted in the upholding of the conviction but a reduction of 50% in the sentence. The case draws together principles that have been developed in a number of jurisdictions and should be regarded as a leading case across all jurisdictions. Even more interesting, it involves a chartered accountant and glaring failures in any form of financial crime risk management system.
A post on LinkedIn recently * says "In the line of duty as a Compliance, I always said to my friend and subordinate; "Never ever say can not until the regulation really declare can not"."
British companies are replacing English with American: today, the 4th July, just a year after declaring Independence from the EU, it's time Britain declared independence over the USA's adulteration of English.
We'll ignore, in this list, the fact that Americans don't know that "billion" means "million to the power two" and so on, here, we list just five examples of where their terminology is just so far from the truth that it's fundamentally misleading. It's not hyperbole, that would imply it is being used for effect, it's just plain wrong.
The perception of car theft is that it is, mostly, someone stealing a car to get home after the trains have stopped running or as a getaway car for another offence. It may be that a car is stolen and used by the thief, or someone else, to run around town with the number plates being replaced from time to time to match those of a similar make and model which is legally taxed and insured, so in effect duplicating the identity of a similar car. But there are other offences and they are a lot more lucrative and, surprisingly, performed in a far more sophisticated way.
The US government's CERT division of the Department of Homeland Security has issued a statement that explains the risks and problems associated with the Petya ransomware virus and details of it.
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