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fraud

The risks to financial institutions, lawyers and accountants presented by their venture capital clients has long been recognised. But what of the risks that venture capital providers face as a result of their investments? WMLR identified a range of risks for both angel investors and those with a full VC involvement.

It's registration spam-scam time again. This one, originating from a spurious domain, (.pw domains are much loved by fraudsters and other internet criminals and this one is no exception) is one of the most bizarre e-mails ever and is therefore likely to succeed.

CoNet Section: 

An indictment alleges accused "tricked homeowners into signing fraudulent deeds on their properties and then allegedly used the fraudulent deeds to extort money from homeowners, charge homeowners illegal fees to delay foreclosure and eviction actions and to steal some homes outright."

BIScom Subsection: 

In the trials (there were two) of Peter Hall, et al, for fraud, a company, TAD Services Limited was named.

There's a interesting back-story - and Google makes a guest appearance as a company that was paid to participate in the scam.

CoNet Section: 

There's a lot of dispute over exactly what constitutes "spam" with legislation influenced by the advertising and marketing industry often defining the term far more narrowly than the public at large. Whether it's legally spam or not, one thing happens far more than it should in unsolicited advertising. That thing is where the e-mail is dishonest in some respect ranging from fake senders through misleading content to out and out lies. The basic rule for recipients is simple: if a mail fails a simple test - "is it true?" - the only safe option is to bin it and block the sender.

CoNet Section: 

The website for FxUnited (FxUnitedGlobal.com) optimistically says "copyright 2006 to 2020." On its website, it links to a company registration certificate which shows that the company, United Global Holdings Limited was registered in New Zealand under number 5247841 in 2014 and has, since, been removed. But all is not as it seems and the investigation into the huge scam in Malaysia is only one aspect of this case as our own investigations reveal.

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FCRO Subsection: 

Customer Response Centres (CRCs) are the point of contact for every disgruntled customer. They are the public face of the enterprise. They are also often far (in both management and geography) removed from the company that the customer thinks he is dealing with. Performance is measured and the amount paid to the CRC operator depends on achieving defined Key Performance Indicators, or KPI. However, some CRCs are producing false KPIs which, because they are what payment depends upon, are in fact false accounting and fraud. Here's how it's happening.

CoNet Section: 

How many tags can we add to this article? LexTech (as in legal technology)?, LegalTech? FinTech, contracting? Cloudflare? DNS Laundering? ICO? Regulation? If nothing else, the story is a warning to regulators to stop and think: are they really doing it right or just being swept along on a wave of other people's self-interest and enthusiasm?

Confido described itself as "using smart contracts with a unique shipment tracking feature." The idea was that it would become a trusted third party (remember that term from the early days of internet payments? It's still useful) as, in effect, an escrow holder. In fact, what the company was offering was far more prosaic:

BIScom Subsection: 

The following e-mail addresses are associated with potential phishing or drive-by malware attacks this morning:

davidibe718@gmail.com
J.Ryan@hud.ac.uk

CoNet Section: 

A man who, through a corporate entity, operated off-street parking schemes on premises owned by a fund to raise money for former servicemen has been arrested after an investigation discovered that he, allegedly, failed to account to the fund for as much as USD11 million over a period of years.

We've received an e-mail from a company with a .ae domain name. It offers us a spectacular opportunity to become a "Certified Fraud Examiner."

There's just one problem: once we started to read the e-mail it was clear that the headline was not true

Following on from the warning on Sunday (see here) Dubai Financial Services Authority has issued a notice relating to a second fraud involving false documents relating to DFSA.

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