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A deferred prosecution is a device used by prosecutors to allow suspected criminals to buy what amounts to a judicially approved arrangement to avoid prosecution so long as the accused meets certain conditions for a certain period of time. Critics (of which this newspaper is one) see it as a bribe; supporters see it as a way of compelling the accused to do whatever it is that the prosecuting authority wants. Developed in the USA, there is a global move towards adoption of this tactic. The former head of the UK's Serious Fraud Office was a fan; he's been replaced by an American who has been immersed in this system. How's it going?

Seriously: if there is a way to stuff up, it seems as if FinTech giant PayPal is working hard to implement it. Here's the "Virtual Agent." Remember: this is, at its heart, a tech company.


"Need more help?" says the PayPal page. Another quality control failure....

In or about 2003, I closed our publishing company's account with PayPal because they kept blocking the account. At the time, PayPal wasn't the enormous global powerhouse that it has become. It was, essentially, a bunch of nerds for whom compliance and risk management was a nuisance. When electronic money started to exercise the US government's collective mind, PayPal found that it needed some risk management processes. They didn't do it properly. Then, later, when PayPal expanded into Europe, it migrated our account to its EU operations and put money laundering, etc. risk and compliance in Dublin where they set up systems that were not only rubbish but sent out letters referring to non-existent legislation. But now, a piece of essential third party produced software is pushing us towards at least opening, even if we don't use it, a PayPal account. How hard can it be? Surely they have learned something in...

The logic failures in some spam-scams are astounding. This one is so stupid that we just had to tell you about it.

FCRO Subsection: 

"We discovered that our data source was modified by an unauthorized agent" says the e-mail that purports to be from LinkedIn. But it isn't. And there's even a little hint at the end to prove it.

IMPORTANT UPDATE

CoNet Section: 

There is a long line of failures to properly plan before implementation - and of fundamental failure to understand the basics of a business or issue before launching a system.

We need to stand back, to take stock. We need to rethink our entire approach to management especially risk management. It's time to get back to basics.

BIScom Subsection: 

It's incredible how many spammers lie, even those who fill in a webform and have to pass bot-resistant tools to submit it. This one makes an amazing lie: that he found our own Group company details on Facebook. Well, we don't have any Facebook page so that's not true. It's for that old figment of the imagination, SEO services, including on Instagram which, also, we don't use. Even the completion of the formal parts of the form show dishonestly and a willingness to mislead. Not bright at all.

CoNet Section: 

In an article for the World Economic Forum's website (How your 'thank you' emails are polluting the planet) it is argued that Britons " send more than 64 million unnecessary emails per day, a study by energy supplier OVO Energy found, with unactionable pleasantries such as 'thank you' and 'thanks' topping the list of most common offenders." So, the theory goes, we should be discourteous to save the planet. Are there other, more socially acceptable ways of reducing the carbon footprint of our internet use?

It's obviously fake. But anything that uses mail at AOL is bound to attract attention. And MoneyGram is used to further enhance the credibility of this fraud that uses the pressure points of IMF and offshore accounts, beneficiaries and.. oh, just read it.

FCRO Subsection: 

Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority, today set out Hong Kong's stall. Is today's statement an indication of success or a note being of not-quite competitive?

If it's got lies in it, it's got to be a fraud. And this one is stupid even by the low standards we often see.

CoNet Section: 

Just as every day leading up to an election, there are talking points and slogans this morning as the scale of the Conservatives' win in the UK General Election sinks in. The standard response from Labour is that they lost the election because of "Brexit." But did they?

CoNet Section: 

OFAC has issued a "Finding of Violation" in respect of breaches of the Global Terrorism Sanctions Regulations relating to the maintenance of Iranian-owned aircraft. The subject of the order no longer exists but OFAC has proceeded anyway.

Publication: 

There are things that biased media push down our throats as they pretend independence but run a subversive agenda, from politics to social change. But there are some things that transcend the self-interest of media outlets, where the generally left-leaning press and politicians have got it absolutely right.

CoNet Section: 

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