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"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.

Jim Richards asks the question, if we are to sanction "oligarchs," what is an oligarch?

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.

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?

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?

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.

The Commonwealth Director of Public Prosecutions (CDPP) has today withdrawn charges against Citigroup Global Markets Australia Pty Limited (Citigroup), Deutsche Bank AG and four senior banking executives.

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.

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.

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.

The USA's Securities and Exchange Commission has issued proceedings against Jose Luis Casero Sanchez alleging insider trading. That's not the interesting stuff.

The USA's Securities and Investment Commission has issued proceedings against Sky Group USA LLC, a payday loan company based in Miami, and its CEO, Efrain Betancourt, Jr. alleging fraud in the issue of some USD66 million of promissory notes, primarily within the Venezuelan community in what the SEC calls "affinity fraud" but which we have for several decades referred to as "intra-community fraud."

Talk about walking in someone else's footsteps: the founder of an electric vehicles manufacturer is the subject of proceedings issued by the USA's Securities and Exchange Commission in respect of comments he made, especially on social media, about the company, its products and prospects. It's not Tesla: it's Nikola.

Don't blame us - we don't make stuff up, you know.

Blotics Ltd., a UK publisher, has agreed a settlement with US regulator the Securities and Exchange Commission arising from the publication of articles about initial coin offerings. The articles were "accessible in the United States." But there's more and the case raises more questions than it answers.