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The USA bangs on about how good its counter-money laundering laws are (they aren't) and New York State attacks foreign banks for failures on its soil (whilst ignoring breaches by US headquartered banks). Yet by its own admission (albeit unthinking), New York is far behind good practice in relation to company registrations. In fact, it's a secrecy jurisdiction that also facilitates confusion as to corporate identity and allows the hiding of both legal and beneficial ownership which benefits money laundering and terrorist financing.

The advent of services such as Airbnb has , in some parts of the world, created an interesting effect: hotels are seeing that groups would often prefer to rent serviced apartments via websites than use several hotel rooms. This has had a cooling effect on rates at the same time as making hotels improve their service levels or it has started a race to the bottom where room-only rates are coupled with reducing quality of service. That's competition but, just as Uber has been lambasted for encouraging unregulated drivers to compete with highly regulated drivers, so Airbnb, etc., are facilitating unregulated accommodation whereas hotels...

Bryan Edwards

In this article, Ajay Shamdasani , Thomson Reuters Regulatory Intelligence, takes soundings on what might be expected from the FATF's Mutual Examination of Hong Kong, the results of which are expected soon.

Editorial Staff
BIScom Subsection: 

When we found this address was the source for a brute-force attack by hackers on our own administration system, we checked and found that it's being used to mount attacks on Drupal CMS systems around the world.


Editorial Staff

There's a huge amount of money spent on financial transaction monitoring software but there is something that costs nothing but a bit of time and the application of knowledge that can identify suspicious activity before the money hits the bank. Welcome to the world of anti-spam filters and they are cheap or free.

When was the last time you logged onto Google +? With even Google's own search engine prioritising members' pages on Facebook, and G+ pages listed far, far away, if at all, one has to wonder if it's still there at all. But, apparently, it's not dead and it's not dying. It's just hovering in that netherland where MySpace, AoL and a handful of others still function at a viable level but will never (again) be stars. But it raises the question - why not run a niche service? And if you do, can you make it relevant to users instead of becoming a totalitarian environment?

Jefferson Galt

As California suffers from forest fires that are now encroaching on some of its residential districts, the Attorney-General, Xavier Becerra, has issued proceedings against the Environmental Protection Agency, a Federal division, over its failure to implement various measures under the Clean Air Act. In particular, the suit says that the EPA has failed "to designate any areas of the country as having unhealthy levels of smog in excess of federal Clean Air Act requirements."

Editorial Staff
Don't say that: 

"Tire" in the context of the black things that fit the wheels of a vehicle

Do say this: 


For years, China has been a destination of choice for the world's non-food waste. Plastics, in particular, have been in demand for recycling. But now China's a combination of slowing production and increasing domestic consumerism means that there is enough domestically produced waste and it no longer needs to be the dustbin of the world. Given that there is already a vast global over-supply of plastic waste, can the world cope without China's formerly voracious appetite?

Peter Lee

Impact on the conventional sector

"No head-scratching and audible sighs of relief as knickers become untwisted. "

There are many countries around the world where the numerical value of the currency is so high that even the smallest purchases are calculated in thousands. To be a millionaire may mean having less than the equivalent of USD100 in your pocket. While official inflation may be low, unofficial inflation, from rounding up or, even, simply inflating unpublished prices, can have a startling effect on costs. And, of course, in environments where cash is the normal means of settlement, creates a profit that is secret from victims and, even, from employers and Revenue officials. But countries are reluctant to redefine their currencies. Why?

Editorial Staff
BIScom Subsection: 

Interacting with a blockchain

How Ethereum demonstrated the benefits of blockchain-based currency for financial crime reduction.