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Advance fee fraud scams go round and round. It's been a while since the "I was in government and I have a huge secret profit from over-invoicing" fraud came around but it's back and it's libelling the head of a central bank. Or, it would be if she hadn't died last year.

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The Hong Kong Monetary Authority has issued a warning that customers of WeLab Bank are the target of a phishing scam. WeLab prides itself on being Hong Kong's "only home grown virtual bank." But it's more than a bank so the scam has potentially much wider implications.

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The subject of "digital identity" suffers from one big problem: what does it mean?

In researching this article, I concluded that it is so imprecise as to be meaningless except as an umbrella term covering a wide range of loosely connected topics. Perhaps, one day, these topics will converge but that day isn't now nor is it any time soon.

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Much store is placed on "mixers," which are also known as "blenders" and "tumblers." Let's strip away the myth.

"Crypto ATMs offering cryptoasset exchange services in the UK must be registered with us and comply with UK Money Laundering Regulations). None of the cryptoasset firms registered with us have been approved to offer crypto ATM services, meaning that any of them operating in the UK are doing so illegally and consumers should not be using them."

Thus said the Financial Conduct Authority today after receiving the judgment in Gidiplus v The Financial Conduct Authority.

BIG YELLOW (WARNING) FLAG

Something happened this week that raises some serious questions.

And there are no clear answers.

The ACCC’s 2022/23 compliance and enforcement priorities include manipulative or deceptive advertising in the digital economy, environmental claims and sustainability, and disruptions to global and domestic supply chains.

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In a world where hundreds, even thousands, turn up in public spaces to protest against whatever is the current fancy, there is question that needs to be answered: why aren't the large protest movements that can drive such action encircling Russian missions around the world? Where are their apparently tireless keyboard warriors? How come they aren't driving trending hashtags across social media?

Is the answer that they are, in some way, beholden to Russia and its money?

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Today, the European Bank of Reconstruction and Development has issued a loan of just under 6.5 million euros to a company that buys bad and doubtful debt from banks. It's a token amount in the great scheme of things. The big question is what comes next?

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You think we are being facetious but we aren't.

Stacey Shaw was the President and Chief Executive Officer of a credit union in a small American town, Beaver, Pennsylvania. It was called The International Brotherhood of Electrical Workers, Local Union 712, Federal Credit Union.

She systematically embezzled funds to the extent that there was so little money left it had to close.

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The Commonwealth Director of Public Prosecutions (CDPP) has today withdrawn charges against Citigroup Global Markets Australia Pty Limited (Citigroup), Deutsche Bank AG and four senior banking executives.

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The Australian Securities and Investment Commission has issued six sets of civil proceedings against Aussie banking giant Westpac, each set in respect of different investigations. If ASIC proves its cases, Westpac will be liable for civil penalties.

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This spam-scam is fascinating: it looks like an old telex message. Very clever.

But it's still an obvious fraud when you read it.

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It's headed "Thanks for shopping 172.128.45.53"

It claims to be from PayPal Billing - with the address grant5978gol@gmail.com

But it's got information (albeit wrong) that suggests at least some knowledge of our company.

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