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The grand-daddy of the current crop of electronic currencies is, of course, Bitcoin. In recent months, its value has appreciated exponentially until it reached more than 5,000 dollars. But it's just the most famous so-called "cryptocurrency" and now the technology is "in the wild," anyone with the necessary, apparently not very advanced, IT skills can make one. China says "enough is enough" and is taking steps to more or less outlaw cryptocurrencies or, at least, to make their use difficult. China has explained its reasoning - and it makes a huge amount of sense. The questions are whether the horse has already bolted, can access to cryptocurrencies outside China be banned and just how much use is it really for money laundering, a main plank of the Chinese objection.

Let's be clear: I've lived in Malaysia, I love Malaysia, I'd like to live there again. It's a wonderful country full of absolutely lovely people (with a few crazy exceptions) and in the ten years I lived there it began to restore its fortunes as a regional leader, a position it had somehow lost in the 1980 until the mid 1990s. Amongst its crowning achievements was the astonishing Sepang circuit. But, due to a succession of errors of judgement, this amazing place managed to lose its pole position as the regional home of motor racing, surrendering without a fight to newcomer Singapore which doesn't even have a track but has a can-do, will-do attitude that seems to have completely eluded...

Bryan Edwards
Publication: 

China is working incredibly hard to reduce its pollution problems, especially in the north where cold air and industrial outputs conspire to produce thick, choking smog. A stroll around any Chinese city these days will demonstrate the country's commitment to the development and production of electric vehicles. There has been announced a ban on the production and/or import of petrol and diesel powered cars "in the near future" and some say this could be as early as from 2020, Aside from European and Japanese hybrids and the expected re-emergence of Volvo as an electric-only brand, what else has China been working on. We have photos...

Peter Lee
Publication: 

Case Summary: 

Americans Rodney Hesson, 47, and his mother, Gertrude Parker, 63, together owned eight psychological services companies that operated in Louisiana, Mississippi, Florida, and Alabama. Hesson's companies operated as Nursing Home Psychological Services, and Parker's companies operated as Psychological Care Services.They were part of a 2015 sweep that netted more than 240 medical professionals.

Healthcare / Medicare fraud
World Money Laundering Report

A passenger who built his own mobile phone charger has been released by police in India. It had been identified by airport scanners as a possible bomb.

CoNet Administrator
Publication: 

In one of the most extraordinary results of a court case in recent memory, the New South Wales has ordered that a man, who cannot be named for legal reasons, is to be approved to run a childcare business despite a conviction for sexual offences, a number of other reported alleged sexual events that did not result in prosecution and alleged domestic violence. Whatever happened to the basic "fit and proper" test?

Editorial Staff
Peter Lee

It's 9 a.m. on 18th September in China and all over the country air raid and other warning sirens are wailing. Where there are churches, their bells are clanging.

This is the day that the Chinese remember the fateful invasion by the Japanese Imperial Army.

It's easy to blame Sebastian Vettel for so many incidents, especially where he collides with another car. He's a horrible person and he's aggressive when he shouldn't be. But for once, although he was highly aggressive in the first corner of this year's Singapore Grand Prix, and he caused a crash which took out his team-mate Raikkonen, Verstappen and Alonso and himself and put Hamilton into the lead, it wasn't entirely his fault.

Bryan Edwards
Publication: 

Our sister publication, World Money Laundering Report, has always adopted the view the Deferred Prosecution Agreements are legalised bribery to enable companies and their officers to evade prosecution for crimes committed.

Alun MIlford, General Counsel of the UK's Serious Fraud Office argues, in a speech to the Cambridge Symposium on Economic Crime, 2017, that the DFA is a useful tool, and that the UK version is materially different from the US version on which it is based.

Editorial Staff
BIScom Subsection: 

The tendency to create child-free zones is growing. Some people strongly applaud the fact that they have the choice to be in an environment where they are less likely to be disturbed by children but others consider it a restriction on their freedom. But surely there should be one over-riding principle - my place, my rules, says Nigel Morris-Cotterill

Nigel Morris-Cotterill

Habib Bank of Pakistan has one office in the USA and it's in New York where the Department of Financial Services has determined that there are "serious and persistent" failings in its counter-money laundering policies and procedures. The DFS said that it plans to fine the bank an amount of "up to USD630 million" and the bank's response is to say that it will close its US operations. It will, the bank said, not consent and will challenge the proposed fine in the US Courts. Fighting talk. But as of yesterday, something changed. If nothing else, the penalty, when levied, did not come close to that headline figure - and the bank did consent. But what also changed was that it became more widely known that the bank had a poor history.

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