seminar - why financial crime compliance and risk management fails    Hong Kong,




   June 2019


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Now the cars have arrived at a proper race weekend, we can at last see what the cars look like, hear what they sound like and get some comparative data on this year's cars against last year's. And we can see what might be not quite right and that's a long list.

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Of course, no one should evade tax. It is and always has been a tenet of tax law that declaring income and assets for tax is the responsibility of the taxpayer. But the OECD has long wanted to gain xray vision into bank accounts and with its "Automatic Exchange of Information" project, every bank account in the world will be subject to "automatic" inspection by "participating jurisdictions." Watch out for blacklists of jurisdictions that argue that there are local legal obstacles to free access to account information.

The pilot of a Bombardier Challenger 604 executive jet has reported that his aircraft suffered "significant loss of altitude, abnormal flight attitudes and accelerations beyond the certificated flight envelope." Damage was substantial. It is reported that a large freighter passed at approved separation (the distance between two aircraft in flight) but that there was significant turbulence resulting. It is said that the freighter was an Airbus A380.

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Case Summary: 

We even had difficulty deciding which section to put this case in: is it a Ponzi scheme? Well, sort of. Is it an investment fraud? Perhaps. Is it a document fraud, a "wire fraud" or accounting fraud? How about operating an unlicensed securities business, or an unlicensed investment business? One thing is certain: as soon as he claimed to have a "proprietary trading program," his victims should have run away.

Type of conduct: 
Ponzi / Pyramid fraud

Sometimes they robbed and sometimes they snatched. But they did identify and contact their targets through on-line advertising site "" Then they made an offer that any normal person would think was too good to be true. One has to feel sorry for victims of crime but sometimes one also has to point out that they were just a bit too stupid or greedy. Here's a lesson in why people should be cautious.

It's proof that no one, no matter how good, can guarantee that there are no IT security risks in their products. US-CERT, the US government body that reports risks discovered in products, has its usual raft of Adobe and Microsoft products in this week's list but there is a surprising entry: data security company F-Secure, a recognised leader in the field, has made an appearance, too.

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Editorial Staff

AW.. it's so nice to see the hidden depths of affection that Trump and Merkel have for each other. Oh, wait, that might be something different. Let's listen into private chat that never actually happened between AngDon.

Don't say that: 

Coverage, when referring to insurance e.g. Obamacare, "The Affordable Care Act" or the Trump-backed version, American Health Care Act (AHCA)

Do say this: 


Regardless of whether Trump suffers from fake news, pre-election tv coverage in TV studios was amazing for the strong statements of false news made by guests on panels or in audiences. These are both hilarious and scary.

Chuck Berry
was born on: 
18 October 1926
St Louis, Missouri, USA
and died on: 
18 March 2017
St Charles County, Missouri,...

The USA's Federal Reserve Board is planning to fine and issue prohibition orders against two former Managing Directors of J. P. Morgan Securities (Asia Pacific) Limited. It follows on from the Board's fining of the bank in November 2016. The offence? Excuse us while we choke on our own laughter: giving jobs to the boys. But they did it in China. On Wall Street, it's standard operating procedure, as it is across a wide range of industries in the USA. There are several matters of grave concern to Banks regulated by the Federal Reserve Board, both domestic and foreign.

CoNet Section: 

Case Summary: 

An officer with US Customs and Border Protection was engaged to check incoming and outgoing international mail for breaches of various laws. That was a golden opportunity for a criminal.

Type of conduct: 
Other financial crime