Log In | Subscribe | | |


GlobalKYC.com is crowd-sourced information for the financial crime risk management community.
Click here to add suspicious crypto assets to the Register

The Dubai Financial Services Authority (DFSA) has issued a warning relating to fictitious claims made using the name "Hershel Escrow." False statements are listed below.

BIScom Subsection: 

They were claimed to be the solution to fossil fuels. Acres of land and sea have been devoted to the alien structures that make even power-grid towers seem inconspicuous. Now about two decades into what was the future, has the promise of Wind Turbines turned into reality? Are there unintended consequences and are they good or bad?

Research by the UK's National Oceonography Centre (NOC) and the University of Manchester forms part of a broad international collaboration. It reveals that micro-plastics often accumulate on the deep sea floor in the same place as diverse and dense marine life communities. That's no big surprise. But how it gets there is.

Case Summary: 

A joint liquidator of a company "dishonestly redirected" a substantial sum of money from the company's administration account to an account he controlled and then used the money for his own purposes. He has been jailed for seven years.

Type of conduct: 
Fiduciary fraud

Any business that does business in or via the USA, including doing business in US Dollars is subject to US sanctions law. The USA frequently punishes foreign businesses which it says has breached its sanctions law. While the media focus is usually on action against UK and EU banks, the simple fact is that successful actions have been brought against, even, individuals buying and selling goods via eBay. So, when the US Treasury says "this is how to design your compliance system," it makes a great deal of sense to pay attention. Yesterday, that's what it said. So pay attention.

Publication: 

A report by the Australian Competition and Consumer Commission says that there has been an increase of 5% in the number of reports by the elderly of fraud committed against them. The total losses, however, increased by 22%. And they are not the only victims, the ACCC found.

The responsible officer of a securities brokerage has been banned from the industry for ten months as a result of his "failure to discharge his duties as an RO" and a member of the company's senior management. The company has been fined a substantial amount, too.

Britons remain European. The deadline for the UK to leave the EU came and went amidst frantic media activity that was eclipsed only by the frantic Theresa May.

There's much about law enforcement around the world that is a far cry from the image presented in TV series, no matter how "authentic" the producers claim them to be. Here are five things you probably didn't know about the realties behind the stories.

The US Department of the Treasury will shortly modify the website at www.treasury.gov. The change will affect, inter alia, users of the OFAC sanctions lists. A notice, reproduced below, verbatim, informs users about the changes.
BIScom Subsection: 

Mark Steven Domingo, 26, of Reseda, a former U.S. Army infantryman with combat experience in Afghanistan, faces federal charges. It is alleged that he expressed support for violent jihad, a desire to seek retribution for attacks against Muslims and a willingness to become a martyr. He was, the authorities allege, developing a terrorist plot in which he planned to detonate an improvised explosive device (IED) for the purpose of causing mass casualties.
CoNet Section: 

May Day is a remarkably long-standing tradition, far pre-dating the political statement it has become - and even that statement is more than 100 years old.

Lewis Hamilton made perhaps the most prescient statement of recent times in Formula One. He said that Ferrari have a faster car than Mercedes. But Mercedes, he said, have the better team, saying that the systems, the strength in depth in all departments, the stability are what give him and team-mate Valtteri Bottas the machinery that allows them to do the job. And with four one-two finishes in the first four races, in each case at least in part due to Ferrari fluffing something, even in the dense air of below sea level Baku which should have increased the red cars' performance advantage, it's increasingly looking as if he's right. But the apparent Sunday afternoon jog for the two Mercedes drivers around the streets of Azerbaijan's capital, Baku, is as much to do with the failures of others as the strength of Mercedes. Ferrari are not the only ones struggling to get it together.
CoNet Section: 

It's a fine point and one which raises hackles on both sides: should a state (which means the taxpayer) fund legal action against the state (which means the taxpayer as represented by elected members) where the action complained of is itself an action against the state (which means society at large)? It's an area where law, emotion and common sense collide and the result is not a pretty sight.

CoNet Section: 

A recent court action against a car hire company demonstrates that the insurance sold with the car is not necessarily what hirers think it is.

Pages

 


 

hahagotcha