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The final part of this article.

Continued from Part IV of this article

Continued from Part III of this article

Continued from Part II of this article

Part I is here

Continued from Part III of this article

Continued from Part II of this article

Part I is here

This paper, by Nigel Morris-Cotterill, was first presented in June 1997 in Milan and first published in the UK that same month.

It deals with internet banking, cyber-currencies, inter-bank regulatory risk and a host of other topics that are seen as trendy today.

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Fraud using technology is not a new occurrence Over the centuries, it has been called by many names - cheating, false accounting, confidence tricks, forgery, impersonation - all are examples of fraud in the widest sense.

Thanks to all the scammers who make is sooooo easy to send their mails to the bin unread.

But we've been digging around in the spam-trap because sometimes we find things that make us smile.

Here's this week's SPAM AWARDS

Following on from the warning on Sunday (see here) Dubai Financial Services Authority has issued a notice relating to a second fraud involving false documents relating to DFSA.

The Dubai Financial Services Authority (DFSA) alerts the financial services community and members of the public about a fraudulent scheme in which the DFSA has been impersonated.

OFAC says "The U.S. Department of the Treasurys Office of Foreign Assets Control (OFAC) today announced a USD344,800 settlement with Richemont North America, Inc., d.b.a. Cartier (Richemont), headquartered in New York, New York, to settle Richemont's potential civil liability for four apparent breaches of the Foreign Narcotics Kingpin Sanctions Regulations, 31 C.F.R. Part 598 (FNKSR). "

Note "apparent" and "potential." The case has lessons for commercial entities, not only financial services businesses, all over the world. It also draws attention to the risks where the USA is out of step with the rest of the world.

Unlike reporting suspected tax fraud to the IRS, reporting suspicions of customs duty or tariff fraud can be a simple matter. But if you want to claim a reward, it's far more complex.

FREE CONTENT

When you come across an American person or company, anywhere in the world, who is or appears to be failing to pay federal taxes properly due, under US law, you can make a report to the Inland Revenue Service and, in some cases, receive a very substantial reward - as much of 30% of the tax recovered. And it's independent of FATCA.

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While the UK was under attack from the IRA and others, it was realised that reactive policing did not provide preventative protection. While specialist units had long been in place for undercover work in relation to both terrorism and organised crime, the models worked, largely, because the targets were known or could be associated with a class of persons. And, of course, individual officers had a network of informants upon whom they relied. But, again, much of this was reactive or, insofar as information could prevent an action, led to internment rather than prosecution. Something had to be done and that something became, in 2000, the National Intelligence Model under which policing became intelligence-led.

Terrence J. McNeil, 24, of Akron, Ohio, has pleaded guilty to five counts of solicitation to commit a crime of violence and five counts of making threatening interstate communications involving his soliciting the murder of members of the U.S. military. The case shows a potential hole in laws around the world.

ICANN is the global supervisory body for internet domains. But it's a commercial concern, given the nod by, primarily, the US government. Its failure to take steps to prevent the registration of fraudulent domains is spectacular but that pales against its dismal performance when an obviously fraudulent domain is reported. We know. We tested it when a fraudster registered and used a domain designed to appear as belonging to HM Revenue and Customs, (see Fraud / phishing scam uses "close enough" UK Revenue domain. The US Government conspires to facilitate widespread internet crime.

THIS ARTICLE IS FREE TO READ

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