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FinancialCrimeRiskOfficers.com

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As low-cost mortgage schemes and Pump and Dump scams return to the internet, there's more proof that frauds are cyclical. Today sees the gold spam we've seen in a while. And it even offers a "standby letter of credit."

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A director entered into an agreement to bribe someone into making sure the company was awarded a contract worth GBP6 million, approx. A new CEO found out, prevented payments, filed a suspicious activity report, asked the police to investigate. Then it all got complicated ...

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HM would not be amused. The UK Treasury, which is increasingly given to adopting American terminology, recently issued an "advisory" relating to jurisdictions with deficiencies in their counter-money laundering and anti-terrorist financing regimes. Hilariously, it was identified as a possible scam by the Thunderbird e-mail client.

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Wherever you are in the world, the so-called Nigerian Scam is alive and well and yesterday's notice from the USA's Internal Revenue Service is the release that will launch a thousand scams - and probably many, many more. It's so serious that the subject line in the e-mail from the IRS raised spam / scam alerts in the Vortex Centrum monitoring system, which can't be good.

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The website for FxUnited (FxUnitedGlobal.com) optimistically says "copyright 2006 to 2020." On its website, it links to a company registration certificate which shows that the company, United Global Holdings Limited was registered in New Zealand under number 5247841 in 2014 and has, since, been removed. But all is not as it seems and the investigation into the huge scam in Malaysia is only one aspect of this case as our own investigations reveal.

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FCRO Subsection: 

Courts have long had the power to make Orders in relation to assets, usually to prevent their disposal and/or destruction. They are known by a variety of names, and sometimes names mean different things in different jurisdictions.

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The British government has announced the introduction of software to "detect terrorist content" on "any online platform." According to a statement issued yesterday "Tests have shown this new tool can automatically detect 94% of Da'esh propaganda with 99.995% accuracy. " That's amazing - and one has to ask how such figures can be quantified and proved. But there is good news: while large platforms have developed their own tech, smaller companies will be able to use that developed by the British government and ASI Data Science.

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A very funny story in today's South China Morning Post reminds me of the many hilarious tales of my Hong Kong Police mates about vice raids. The anonymous tourist who bemoans his fate in the article is an example of what happens if you think that being a foreigner absolves you from the important action of switching on your brain and learning at least something about what you are getting yourself into, says Nigel Morris-Cotterill

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The biggest corporate news in South Africa at present is that of State owned Eskom where every epithet relating to being rotten can be applied: one rotten apple spoils the barrel, rotten to the core, fish rots from the head.. but, as South Africa's deputy President under Jacob Zuma and the recently appointed head of the African National Congress (a national political party, not a continent-wide initiative) said in an electrifying speech at Davos yesterday, things have to change.

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The sentencing to three years of those involved in a case involving bank loans to a company that then defaulted gives some indication as to why Vijay Mallya is so reluctant to return to India from his UK hideaway.

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