Money Laundering

Peppy request from a PEP's agent

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There are those that think that Politically Exposed Persons are only those currently in office. That is a silly view because a) once a PEP, always a PEP. And once proceeds, always proceeds. And proceeds taint everything they touch. If you've been taught something different, then get some proper training. Here's a spam that proves why.

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Thailand, Weed and Banking (4)

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This is article 4 in a series of 4. Read :
Part 1: here
Part 2: here
Part 3: here
Further Reading: here

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Crypto-myths: the crypto-mixer is a new concept.

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

BIScom Subsection:

Cryptocurrencies and cryptoassets

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Crown Casinos: is AUSTRAC over-reaching?

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Paddy Oliver looks at the Statement of Claim in AUSTRAC v Crown and asks if AUSTRAC is over-reaching.

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AUSTRAC: systemic failures in counter money laundering systems at Crown; proceedings issued.

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AUSTRAC, Australia's combined FIU and regulator, yesterday issued civil (not criminal) proceedings against Crown alleging "serious and systemic non-compliance."

The action is against Crown Resources in both Sydney and Melbourne. The allegations are that, despite previous action and warnings, Crown remains short of the minimum standards that AUSTRAC requires.

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Credit Suisse: global media attention on prosecution in Switzerland misses the point.

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It's been a long time coming - a major bank is subject to criminal prosecution in its home jurisdiction for money laundering.

Or so the hundreds, if not thousands, of headlines say.

But the attention is misplaced because the bank is not charged with money laundering, but - as has happened so often in the past - a money laundering related offence.

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"Barrister Charles Morgan" has moved to Yandex.com in the latest scam using that name.

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It's been modified from the advance fee fraud e-mails that we are used to and someone has been to writing lessons.

It starts with an unusual approach, then moves into the same technique as we've seen from this name dozens of times over many years.

Oh, and he uses UN.ORG as the "from" address. Cheeky.

FCRO Subsection:

Financial Crime News

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20211210 Today's Top Five

This piece was written on 22 August 2021, almost immediately after the fall of Kabul.

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For once, this spam-scam is truly entertaining

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adviserangelo0@gmail.com (Advisor Angelo) writes under the subject line "VERY URGENT!!!!!!!!!"

Obviously, one has to pay careful attention to such a missive.

FCRO Subsection:

Financial Crime News

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SPACs: a renaming of an old method of giving foreign businesses access to US capital. And expatriating large amounts of money.

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The origins of the SPAC, an acronym that has taken on a life of its own with the actual name falling into disuse, are not recent. In fact, as a concept, it's 300 years old - originating in a time of corporate malfeasance, fraud and abuse of investors.

As a vehicle, then, it's perfectly suited to be recognised by regulators who think they are being progressive.

Oh, and it's a near magical route for the expatriation of funds generated by organised crime i.e. money laundering.

BIScom Subsection:

Capital Raising

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