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Editorial Staff

The war of words between Rocket Man Kim of North Korea and Orange Rug Man Trump of the USA escalated recently when Kim said "I've got the nuclear button on my desk" and Trump responded "I've got a button on my desk and my button's bigger than your button" (or some wording similar to this). It was all a bit of a giggle until Hawaii hit its own button and sent out across the whole GSM network messages to every mobile phone user telling them an attack was imminent and screaming "This is not a drill." We listened into the back channel between The White House and whatever house Kim is in. This is the conversation that never happened.

Nigel Morris-Cotterill

There has been an enormous reaction to the (allegation?) that US President Trump described two countries and an entire continent as "shit-holes." Amongst the criticisms are that it was "an obscenity" and that his comments are racist. While the jury is still out as to whether he in fact used that term there is absolutely no doubt that, on other occasions, Trump is guilty of both. However, on this occasion he is not and closing speeches need to be based in fact and language and not a knee-jerk, reactionary response which is emotional rather than rational, says Nigel Morris-Cotterill.

FCRO Subsection: 

A spotlight is being shone onto the world's aircraft manufacturers. Ever since the UK's then Prime Minister, Tony Blair, personally intervened to stop a serious fraud office investigation into payments allegedly made to persons in Saudi Arabia by BAe, the entire industry, from planes to engines to components, is increasingly subject to question. A recent deal between a former executive in a manufacturer and US prosecutors shows the complexity of arrangements intended to obscure corrupt payments and the need for vigilance by financial institutions.

The creation of the new, PoTUS Trump-driven tax regime with effect from 1 January, only a week after the law was passed and that being a week everyone was off partying, is leading to a flurry of activity in government offices. The first important documents to come out of the Inland Revenue Service are "withholding tables" that relate to deduction of income tax at source.

"Updated 2018 Withholding Tables Now Available; Taxpayers Could See Pay cheque Changes by February," says the IRS in a statement.

Editorial Staff

The Australian Securities and Investments Commission (ASIC) has licensed the first crowd-sourced funding (CSF) intermediaries under the new CSF regime.

Editorial Staff
BIScom Subsection: 

India's Directorate of Revenue Intelligence has had a string of successes of identifying cash couriers and confiscating large sums at borders. The methods used by the carriers are instructive.

Andreea Tampu

Let it be clear from the beginning that I am not talking about trade finance.

The international shipping scenery is characterized by the presence of numerous intermediaries that offer different services to vessels that cross international waters and stop in international ports.

Andreea Tampu is a Certified Compliance Officer with a bank in Romania


Case Summary: 

Christopher Woodhead created several companies claiming them to be contractors supplying and applying external coating to houses. But the companies took payment, didn't do the work or did it shabbily and Woodhead took the cash out of the company, setting up another one in its wake. He was jailed after an investigation by the UK's Serious Fraud Office. But that's not the end of the story.

Consumer fraud
World Money Laundering Report

Customer Response Centres (CRCs) are the point of contact for every disgruntled customer. They are the public face of the enterprise. They are also often far (in both management and geography) removed from the company that the customer thinks he is dealing with. Performance is measured and the amount paid to the CRC operator depends on achieving defined Key Performance Indicators, or KPI. However, some CRCs are producing false KPIs which, because they are what payment depends upon, are in fact false accounting and fraud. Here's how it's happening.

Editorial Staff

IN an order issued today, the Securities Commission of Malaysia has ordered CopyCash Foundation to cease and desist from all commercial activities, including an ICO planned for tomorrow (10th January 2018)

Editorial Staff

RSS is a way of allowing people to ask for automated notifications of information published on the Web. RSS stands for "Really Simple Syndication" and it's a technology that's been around since more or less the time the 'web came into common use. It's a bit arcane but it works.

Editorial Staff

One would think that when the New York Department of Financial Services, known for massive penalties against foreign, especially European banks, to say nothing of "perp walks" and heavy handed and highly prejudicial media statements, announces a penalty of USD60 million that it's for lightweight failures. Nothing could be further from the truth and the reality demonstrates why negotiated settlements are nearer to bribes than to justice, says Nigel Morris-Cotterill.

Across the media and social media in the past few days there has been widespread reporting that the USA's Office of the Comptroller of the Currency has "fined" Citibank. Just one small, technical detail. It's not true. Here's what did happen, and why, it is important.