Should financial institutions consider the character of customers as a risk factor? A recent case in Australia suggests that it might be wise to do so.
London 14 September 2020 From buccaneers and pirates to modern day providers of financial services, the offshore sector has always been about protecting and enhancing the value of assets.
A new e-learning course examines the history of the offshore financial sector, private banking and family offices.
I abandoned using slides in presentations in Europe in the 1990s. Working in Asia, there was an expectation that there would be slides and if they were not used - and handed out to the audience - there was considerable criticism. In many cases, that persists. But in the 2000s, I reverted to presentations without slides which puts the onus on the audience to make notes. It's a policy I have extended to e-learning with intra-course Scenario pages and reinforcement for which note-taking is encouraged. It's why we chose against including a notepad in our e-learning system. My view was simple: I knew that the stuff I remembered best was the stuff I wrote down - even though my handwriting was so poor that, often, I couldn't read it back. The simple act of making notes locked information into my memory, even when I was doing it almost on autopilot whilst listening to what was being said. If it worked for me, I reasoned, it would work for everyone. New research by Hetty Roessingh, Professor...
Financial Crime Risk and Compliance Training (our sister division) has added five pages to its course "Essentials: lawyers and money laundering, etc." New court judgments in Australia are set to revise attitudes to notices compelling delivery of documents.
This is so amateur that it's worth our publishing it. The "reply to" address is at a free and anonymous mail account in Hungary: georgievakristalina01@vipmail.hu . But there is something interesting.
Deutsche Bank will, in the not too distant future, become a cause of study in universities, colleges and business schools across the world. It will become the iconic example of how not to run a bank.
For the background to this story, see here: https://www.pleasebeinformed.com/publications/Financial_Crime_Risk_Officers/persistence_cryptotrading_fraudsters and here: https://www.pleasebeinformed.com/publications/Financial_Crime_Risk_Officers/get_rich_quick_scheme_being_pumped_linkedin
Now the fraudsters, or their associates, are back. And this time they have new telephone numbers.
RIZWAN HUSSAIN has been jailed in the Central London Country Court (a court of first instance) by HH Lethem, J. Hussain has squirmed, wriggled and lied so as to remain in a flat he rented in South West London.
Dots, here's a line. We hope you like being joined up.
The Australian Consumer and Competition Commission has "granted authorisation" for a scheme to collect and recycle batteries. The scheme, known as "The Battery Stewardship Council," was originally launched in 2918. In December 2017, Elon Musk's Tesla company installed the then biggest Lithium-Ion battery in the world in South Australia. This week, it's been announced that its size has been increased.
You know that thing about airport security, where no one gets on a flight if they aren't who they say they are? And you know that the USA is so obsessed with airport security under its "war on terror" thing that all flights are locked down tighter than a tight thing?
It's not true and this document fraud shows how lax security really is in the US aviation industry. Remember this the next time some one questions a detail on your ticket at check-in. It's the old thing - the bigger the lie, the less people are likely to spot it.
There was a millennium bug joke - an airline captain told his passengers that one of the aircraft's engines had cut out because of the millennium bug but it was OK because the other one was still working. Then his co-pilot told him that the clock on that one was a minute slow.
Of course, no airlines fell from the sky at midnight on 31 December 1999 and even the dozens of chips in some of the USA's nuclear missiles that were causing concern turned out to be just fine.
The Australian Securities and Investment Commission (ASIC) has imposed additional conditions on the Australian financial services (AFS) licence of Societe Generale Securities Australia Pty Ltd (SGSAPL) to ensure compliance with clients' money regulations.
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