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Curated by Dev Odedra.

 

 

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Essentra FZE Limited, a manufacturer of cigarette filters and tear tape has agreed to forfeit USD 665,112 in respect of "apparent" breaches of US sanctions relating to North Korea. Essentra is a company registered in the United Arab Emirates with no physical presence in the USA.

The USA describes it as "egregious."

Publication: 

Our sister venture, Financial Crime Risk and Compliance Training, has released a micro-course about Deutsche Bank, the New York Department of Financial Services and Jeffery Epstein.

The case creates a new class of risk for all regulated businesses everywhere in the world. There is an early bird discount.

BIScom Subsection: 

Multiple Formula One World Champion Lewis Hamilton is the poster-boy for anti-racism. He has put himself in that position and there is absolutely no question - the world needs good people to stand up and speak out against bad things.

However, his symbolism is misplaced and those that demand compliance with it are doing more harm than good.

Fraudsters are like fishermen: they dangle a juicy titbit and expect you to snap it up and get hooked.

But often it's not actually a worm, it's fake meat, a plant-based concoction that has artificially induced flavours and aromas. It misrepresents itself by appearance.

That's what this scam is all about and only the names have been changed because J.K. Rowling is back in the news.

FCRO Subsection: 

Even by the standards of spammers, we have to be impressed with the targeting of this outfit. antimoneylaundering.net has, this spammer claims, sent an e-mail to antimoneylaundering.net. That's our sister domain. That's not clever - lots of criminals do that. It's not even clever to put the name in the "from " - criminals and sales people do that. But to tie it to something that might actually be of genuine interest? That is clever or, at least, devious.

CoNet Section: 

As the UK finds that opening its pubs might lift the spirits of the people, their ability to contain themselves when consuming spirits or other alcohol risks further outbreaks. The same was found in California last week. Some pubs that were open for two or three days are closed again as people report contagion within hours of their visit. Here are figures published yesterday by the WHO that show that it is important to be responsible for your own safety and that of others while out socialising - or else there's the risk of a terminal decline in the businesses where recreational drinking is available.

In short, so far as responsible behaviour is concerned, put up or pub shut.

This is the full text of the UK's initial sanctions list published 6 July 2020, segregated into topics. We have also reproduced the UK's statement about the status of sanctions.

See here for commentary.

Publication: 

The default system setting for Linux Mint 19.3 is the US system of month, day, year which drives so many people in the rest of the world to the borders of insanity or rage.

There are many solutions for this across the internet. They are all written for command line junkies. But for everyone else, there's a quick and simple solution.

So, your EncroChat phone is dead. It's the the end of the world, though. While the UK's National Crime Agency and other law enforcement bodies around the world were able to attack the EncroChat system, disable its web presence and take control of its servers, and to make an extraordinary number of arrests and spectacular seizures of portable assets, the tech that the criminals relied on wasn't particularly clever and while it may have been proprietary, it was not unique. In the UK, the same mobile phone number is used by some selling both EncroChat and a rival system. Private bankers, lawyers and others have a problem that has, so far, not been talked about in the excitement of the initial arrests.

FCRO Subsection: 

When we all wrapped up at the end of the 2019 Formula One season, there was the usual end of season feeling: a bit excited, a lot deflated (the Abu Dhabi race does that to me every time - it just doesn't cut it coming after Brazil) and a feeling that the next few months would be punctuated with bits of news from factories, some driver chat and the testing in Barcelona so we northern Europeans get reminded of what sun looks like. And then, it's off to Australia - in reality or virtually - for the season opener that really tells us nothing much about how the season will go and - fun as it is, it's really a shakedown test with points for those that don't shake apart. A huge cock up saw the teams arrive, unpack, set up cars - and then put them all back in the box and go home without a single car doing a lap. Covid-19 had struck and chaos reigned. Until yesterday.

CoNet Section: 

In his blog (here), Nigel Morris-Cotterill talks of chickens coming home to roost, a lack of attention by regulators too anxious to become FinTech hubs and the constraints on prudential management of FinTechs operating across borders, especially under the EU's central regulatory regime.

BIScom Subsection: 

Public thanks: TechWarehouse in Kuala Lumpur. I bricked my primary PC and nothing else in the house was capable of handling its workload. I needed something urgently until I get the big box to ASUS so they can work out why the BIOS isn't working out and fix it.

CoNet Section: 

Linux is almost infinitely configurable. For those used to offerings from Microsoft Windows or Apple OS, that's either great or scary. It also means that many things that users of those systems take for granted don't come in the box while many things that are fiddly or time consuming with those work without any intervention.

Issue: Caps Lock is OFF on Start Up by default.

Solution: quick and easy.

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