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It has come to our notice that one or more persons are fraudulently delivering e-mail purporting to come from BankingInsuranceSecurities.com. It is impossible for that mail to originate at that domain and you may safely blacklist it at server level. For more information, see below.

The fraud has interesting timing and holders of internet domains should be aware of a possible new threat to reputation. The threat does not, on the face of it, have any immediate cyber-security implications but there may be hidden dangers.

BIScom Subsection: 

It all began when financial services regulation became trendy. In the good old days (which were in fact the bad old days in so many ways) language was used accurately. But some twit decided that precision in language in some way excluded hoi poloi. We are now some twenty years into a process by which imprecision has become the norm and therefore confusion and expense the inevitable result. One of the terms that first fell to this idiotic process is "firm."

BIScom Subsection: 

Sydney-based authorised representative Eli Ekman, of Dover Heights, NSW, has been prohibited from providing any financial services in any capacity for five years, under the terms of a court-enforceable undertaking (EU), said Australian financial services regulator ASIC in a statement this week. His offence is unusual.

BIScom Subsection: 

The iconic fashion boots UGG are famously Australian.

Or so consumers were falsely told by Ozwear Connection, a wholesaler of footwear and accessories in Australia.

And then there's the question of exactly what is an "ugg" boot.

What're the odds? Statistically, and logically, there are some things that should not happen, especially when a series of conditions must be met. Think how hard it is to get a rollover of selecting the winner of six horse-races in a row, for example. How can it be, then, that there are so many in-debt young people who attended college but don't have their degrees or whatever? The answer lies in a series of mismanagement decisions over a period of years at all levels of government in the USA. And it could easily happen anywhere else, too.

BIScom Subsection: 

As Asia continues to struggle to come to terms with a series of enormous natural disasters, the USA's Inland Revenue Service has come up with a scheme to help victims of similar events. It appears to be a groundbreaking idea that can offer some genuine assistance - if it's done right.

A statement from the European Bank for Reconstruction and Development says that a meeting of the heads of the leading multilateral development banks (MDBs) meeting at the 2018 Global Infrastructure Forum (GI Forum) today reaffirmed their commitment to work together to deliver inclusive, resilient, and sustainable technology-driven infrastructure. "

There's a lot of blah-blah-buzzword-blah and then comes a sentence that should pique the interest of all in the financial and aid sectors.

BIScom Subsection: 

It's that time again: PayPal spam-scam time. But even by the standards of badly constructed spam-scams, this one is bad. So bad it's funny and so bad that anyone who falls victim to it may just be too stupid to live. But the bigger danger is that it's not a phishing scam but a way of placing malware on victims' computers and if that happens they are being human not stupid.

FCRO Subsection: 

Source: U.S. Department of Homeland Security US-CERT

National Cyber Awareness System:
AA18-284A: Publicly Available Tools Seen in Cyber Incidents Worldwide [ https://www.us-cert.gov/ncas/a... ] 11/10/2018 11:19 AM EDT
Original release date: 11 October, 2018

CoNet Section: 

Long, long ago we wrote about a distasteful case where a male customer had ordered a cake bearing a slogan that was a) illegal and b) offensive to the owner of the bakery. He refused, backed with public money, the customer alleged discrimination. Starting with a tribunal and running through The case, incredibly, has ended up in the Supreme Court where, on Tuesday, an outbreak of legal reasoning produced the only judgment that true reason could have conceived of.

The position relating to PEPs has always been complex but Unexplained Wealth Orders are about to take that complexity to a level previously unthought of.

Bahrain International Airport has a latest check-in time after which check-desks will be closed.

CoNet Section: 

It's a story that has grabbed the headlines - a week after it was first published. One suspects that there was much fact-checking going on before a New York Times article that says US President Trump "participated..in outright fraud," a statement of such extraordinary bluntness that the mere fact that it appears in print is at least as shocking as the allegation itself. There are so many things to consider but in FinancialCrimeRiskOfficers.com, we are interested in a relatively narrow aspect of the story...

FCRO Subsection: 

The UK is undergoing a revolution in how legal advice is provided. After decades of de-regulation which has resulted in many areas of law that were covered by solicitors, supposed improvements have allowed many who are not specifically qualified as lawyers to provide advice and assistance. Add in the ever-more restrictive legal aid scheme and it's no surprise that some people turn to non-lawyers for help. Enter the dangerous world of the "professional McKenzie Friend."

Publication: 
Editorial Staff

California Attorney General Xavier Becerra is very active in a wide range of litigation supporting a wide range of opinions. Here are five things he's supporting now.

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