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Oh, how we wish we had a section called "That's not how it's done."

Apple is continuing the policy started by Steve Jobs of removing all the really useful bits from their devices and making customers pay extra for them (see Here: Steve Jobs explains the concept of the iPad to an invited audience. This time it's the audio (headphone, etc) socket. You can still have external speakers, etc. if you are prepared to stump up lots of money for the privilege.

But some bright spark has come up with an idea to modify the phone.

Editorial Staff

This month, global TV networks based in the USA are pushing memorial and revised analysis of the bringing down of the twin towers of the World Trade Center (sic) in New York on 9/11, as they have branded the 11 September, 2001. News outlets including the BBC carry stories about memorial services, etc. But the focus on that single event means that other, equally and in some cases more important, events have not been widely reported and have been forgotten.

No one likes their screen to be cluttered with ads. But if we didn't show ads, and if people like you never clicked on them, we wouldn't be able to pay the bills that allow us to create your enjoyment of this site. But there is a way around it...

CoNet Administrator

Angela Merkel pays the price for her rash migration policies as the German population, other domestic politicians and even EU equals say "we told you so."


World Money Laundering Report Volume 15 Number 4 World Money Laundering Report Volume 15 Number 4 is now available for download by Site Licence holders.

In this issue:


Plunder and corruption by state officials: an action plan for dealing with proceeds of suspected or proven offences.


A hoax article (it's not satire, it's simply a click-bait false story) in online magazine guard1an.com demonstrates why registrars must take steps to limit and even ban the use of names that are sufficiently similar to established names to prevent a wider harm, says Nigel Morris-Cotterill, author of Cleaning up the 'Net: An Action Plan to combat the use and abuse of the internet for financial crime

CoNet Section: 

The decision by US messaging service WhatsApp to allow its parent company, Facebook, access to user's data raises enormous questions for compliance and ethics teams in financial institutions, law firms and many other businesses. Should Compliance Officers now ban the use of WhatsApp for both transactional messaging and communications with clients? And should data protection registrars now issue warnings as to the release of client-related data? In fact, should the app now be banned entirely from all mobile devices used in any way for work purposes?

BIScom Subsection: 

While the average article focusses on the announcement of WhatsApp's about-face regarding the implementation of advertising, its founders having repeatedly assured user that the messaging platform would never carry advertising, the bigger issue is this: Facebook, which bought WhatsApp and authorised those assurances, and guaranteed users privacy, is about to plunder WhatsApp user data and to make it available to third parties. USers have a stark choice: try to sort out a complex opt out (that depends on whether Facebook can be trusted and history repeatedly demonstrates otherwise), to accept the total loss of privacy in messaging or to leave WhatsApp entirely.

CoNet Section: 

In July 2010, Euromoney reported "regulators in Gibraltar say they shut [Reincarnation Bank] down, it subsequently re-emerged six months later." It's had a checkered history, but today, you can still visit a website with that name.

BIScom Subsection: 

It used to be that the solicitors branch of the legal profession in England and Wales was compelled to purchase its professional indemnity insurance (PII) from a single, approved, insurer and the cost was very high. Rightly, the profession voted to widen the scheme to permit approved PII to be purchased from third party insurers on a competitive level. But things have not gone according to plan and the latest crisis threatens the future of several firms.

CoNet Section: 
Case Summary: 

Nikolai Tehin was an immigrant to the USA from Russia. He found ways to pay his own way through the long and expensive process of qualifying as a lawyer. For more than 30 years, he represented a wide range of clients and enjoyed the rewards, including a house worth some USD8 million in 2004, a 73-foot yacht and a number of expensive cars. But he funded his lifestyle from illegally dipping into clients' funds.

Type of conduct: 
Fiduciary fraud