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Onced a month I send off this digest. Do not try and cancel wioth them. =
It comes from the CENTAPEDE list. Anyone who is in finances, or real =
estate and even the lawyers who are a little exempt from the reporting =
rules of Canada's Money laundering Laws at the moment, should be paying =
attention.
I send it out once a month. If you are in finance, you can subscribe =
for your own at the end.
david ingram.
----- Original Message -----=20
From: [email protected]=20
To: [email protected]=20
Sent: Thursday, November 27, 2003 6:00 AM
Subject: WMLR Digest 20031127
World Money Laundering Report: Digest
WMLR Digest
Thursday 27 November, 2003
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WMLR Digest is a service of World Money Laundering Report - part of The =
Anti Money Laundering Network. WMLR Digest is a free weekly newsletter =
for subscribers.
In World Money Laundering Report Volume 5 Number 3 published today
*** Trust Meridien? No thank you.=20
"Welcome my friends to the show that never ends, come inside, come =
inside." So sang Emerson Lake and Palmer as the introduction to a =
typically grandiose piece. But there is not a lot that is grandiose =
about Trust Meridien: it's another of the not quite banks we are so fond =
of finding. And the story has an interesting twist for Ian Mullen of the =
British Bankers' Association.
*** Financial Services Business hit by pump and dump scam.
In late October, a stock pumping operation was launched under the name =
"Upside International." The stock pump was by an extensive e-mail spam =
campaign which is to lists of e-mail addresses commonly used by =
spammers. In addition, the spam was posted to a number of internet =
newsgroups and mailing lists so gaining even greater exposure. The =
victim is a financial group in which shares are on a roller coaster.
*** Regulatory Roundup
UK on record keeping, US on market manipulation, China on rep offices =
and more
*** UK's FSA on the ropes
When the two top men at the FSA appeared before a Treasury Select =
Committee, things got hotter than they would have liked. Then the =
Committee asked by penalties are so low and whether they can learn a =
thing or two from Eliot Spitzer. Hats on lads, the FSA may be going to =
start getting really heavy.
World Money Laundering Report Volume 5
Monthly journal with uniquely authoritative panel of writers.=20
Delivered last Thursday of each month
Find out views of regulators, enforcement agencies, policy makers and =
practitioners.
Electronic delivery. Only GBP280 for the volume.=20
Subscribe at www.vortexcentrum.com/vcl04.htm
****************************************
World Money Laundering Report: Online is One Year Old
To Celebrate we are offering a very special offer.
50% off New Subscriptions ordered and paid for during November 2003.
Now GBP50 for a year instead of GBP100.=20
Orders at
www.wmlro.com/birthdayoffer.htm
Don't miss this great offer!!!=20
++++ LAST WEEK OF OFFER ++++
********************************************
Stories from World Money Laundering Report: Online in the past week
*** Tech: Trembling voices help to cut fraud
When The Anti Money Laundering Network launched personality profiling =
tool Risk Values, financial services businesses felt that there was a =
chance of customer alienation if it became known that such techniques =
were in use. With the announcement by esure, a fast growing car insurer, =
making a public announcement that it is to adopt voice stress analysis =
to identify callers whose vocal patterns may reflect dishonesty, the =
tide may be about to turn for point of contact profiling.=20
** Also
Motor insurer esure has provided a Q&A on the use of Voice Risk =
Analysis, which the company is to test on live calls for six months from =
December 2003, so catching the peak accident period over Christmas and =
New Year.
*** Wells Fargo suspect corralled.=20
Wells Fargo is breathing a little more easily today. A massive operation =
by their own investigators and several state and federal agencies has =
resulted in a suspect being arrested and all the stolen computers =
recovered. And, they say, no data has been misused.
*** The internet name renewal fraud that Network Solutions has not done
The owner of a domain thinks Network Solutions is trying to defraud him. =
Someone is but it's not them.=20
*** A promise delayed is not a promise broken, says UK government
The stress of buying and selling houses is bad enough without the legal =
process making it worse. But the UK's Labour government's promises to =
make it easier have not only not been met but have been repeated for the =
past six years. So, when is a promise broken? And does speeding up =
transactions add to the risk of fraud?
*** Romanisation of different scripts
When you check a list of names for those you can't deal with, how many =
spellings do you think of if the name is one that was not originally in =
Roman script?
*** UK: VAT offences crackdown
HM Customs and Excise needs some good news in the wake of a series of =
major SNAFUs. With some recent arrests, it might have something to crow =
about: if they get the cases to a satisfactory conclusion.
-----------------------------------------------
AML / CFT Blended Training from the World Leaders
www.antimoneylaunderingtraining.com
---------------------------------------------------
*** Tech: Voice Printing as post identification verification
Your computer may not be able to understand anything useful from the =
voice recognition software you thought would mean you never had to type =
again. But of much more immediate use is the possibility of voice =
printing as a means of knowing that the person on the other end of the =
phone line really is the customer you did KYC on.=20
*** Credit card scheme alleged to have duped consumers
Interest free purchases on credit cards? Not quite as simple an offer as =
it seems.
*** Malaysia: counterfeiters welcome festive season
Today is the first day of Raya, the Muslim new year and in the past week =
or so, the sale of counterfeit DVDs and other products has returned to =
welcome a series of festive seasons.
*** Shooting phish
In the past six weeks, US Federal agencies and other enforcement =
departments have rounded up 125 people on charges of internet fraud, =
money laundering and other offences. But it's having no impact on spam =
so the 125 they have are the wrong 125, perhaps? Or is this a way of =
heading off criticism of the snooping provisions of the USA PATRIOT Act?
*** The dangers of being a bank on every street corner
The complexity of yesterday's bombing of HSBC in Istanbul is a problem =
for global banking groups. Changes in tactics hint at a major attack in =
European capital.
-------------
Risk Values.
Customer profiling at point of sale
www.riskvalues.com
---------------
Read these stories and more at=20
World Money Laundering Report: Online
Visit www.wmlro.com
And get six week's free trial
A full year's subscription is only GBP100 per seat.=20
:::::::::::::::::::::::::::::::::::::::::::::::::::::
++ WMLR Digest News ++
*** Turkey has adopted currency reporting requirements at ports: cash, =
bonds and other negotiable instruments of value more than TRL25 milliard =
must be reported. So how much is that in real money? GBP 10,127.20 at =
today's prices.=20
*** Former Nicaraguan President Arnoldo Aleman has been released on bail =
on a variety of charges including money laundering. He was originally =
held on remand but he has been allowed home because of failing health.
*** It's those hippies - they are to blame for calling money "bread." =
And when a Texas highway patrol stopped a bread van, money was the last =
thing they expected to find. But the lorry's manifest said it should =
have been somewhere else and the lorry was a bit down on its axles for =
the amount of dough it should have been carrying. So they took a closer =
look and found just over USD5 million in cash. They were just 100 miles =
from the Mexican border. Bet the USD10,000 border reporting limit wasn't =
going to be observed.
*** The Asset Recovery Agency has collected GBP1.5 million in Scotland: =
but it has had to admit that this was from relatively low grade =
criminals and the masterminds remain untouched.
--------------------------
Great News for HR departments
Advertise AML, Compliance and Internal Audit jobs FREE
at www.amlJobSearch.Com
YES ::: FREE TO EMPLOYERS
(agencies pay a small fee)
part of The Anti Money Laundering Network.
------------------------------
*** The IMF has examined Jersey and Guernsey and given them a clean bill =
of health so far as regulation goes. Both are very pleased. But the UK's =
not letting so called Tax Havens off the hook: Minister Dawn Primarilo =
has told the Cayman Islands that if they don't bow down and fall into =
the international tax system she will impose new laws. This will further =
increase the constitutional crisis in the Caymans which became a live =
issue in December last year when it was discovered that British =
intelligence agents were perverting the course of justice in the =
Islands.
*** Taiwan legal executive used jewellers' shops to launder, say =
investigators. Eddie Liu ran away with lots of money after he sold =
securities entrusted to his employer, one of Taiwan's most prestigious =
law firms where he had worked for many years. As the investigation is =
continuing, attention has paid to how he got the money out of Taiwan and =
sources in the police are saying that he had long standing relationships =
with a number of jewellery shops, only now coming to light, and that he =
purchased highly mobile and readily saleable pieces, suggesting that his =
offence might not have been as isolated as at first thought. Liu, a well =
known member of the Taipei homosexual community, used a number of =
"boyfriends" to open accounts in their own names for him to use, reports =
say, emphasising that a rogue in a small, close knit and perhaps =
isolated group is often able to manipulate or defraud members of that =
group. And perhaps there is something genetic: as the story unfolds, =
word has come out=20
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Conference
Fraud can strike any organization, any time. Protect your organization
against the ever-growing problem of fraud ... join expert speakers at
the Anti-Money Laundering & Financial Fraud conference from 15-17
December 2003 in Hong Kong. Contact [email protected]
for more information. IBC Asia Tel : 65-6835 5102; Fax : 65-6733 5087=20
http://www.ibc-asia.com/AML.htm
--------------------
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Canada, USA and International Tax advice
www.david-ingram.com
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Buy small business AML e-learning=20
training packs on-line=20
at www.antimoneylaunderingtraining.com
UK, Singapore, Malaysia.=20
------------------------------------
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About WMLR Digest:2,400 opt-in subscribers in legislatures, regulators, =
law enforcement agencies, banks, insurance companies, law firms and =
others plus more than 3000 "pass-on" readers and at least 3500 =
additional readers on private circulation lists.
About World Money Laundering Report: Online - over 50,000 hits in the =
past month.
=20
------------------------------------------
Info, subscribe, unsubscribe information at
www.vortexcentrum.com/digestinfo.htm
*Copyright etc.*
WMLR Digest is 1999-2003 in all formats for all the World. However, you =
are welcome to forward it to friends and colleagues that are likely to =
be interested. The only conditions attached to this permission is that =
the mail must be forwarded in its entirety and without addition, =
deletion or modification and that it must not be sent to anyone that you =
think would not welcome it. You are welcome to distribute it internally =
to your all or part organisation but extensive mailings outside your =
organisation are not permitted.
Vortex Centrum Limited (World Money Laundering Report) asserts its moral =
rights to be identified as author with regard to the content of WMLR =
Digest.
World Money Laundering Report and WMLR Digest and World Money Laundering =
Report: Online are published by Vortex Centrum Limited, a UK =
corporation. Full contact details are at www.antimoneylaundering.net
Tel: + 6 03 2072 5188 (Kuala Lumpur, Malaysia)
Editor Nigel Morris-Cotterill
=20
WMLR Digest ISSN1473-3390
World Money Laundering Report (electronic) ISSN 1473-3439
World Money Laundering Report (print) ISSN 1473-3455
Email - [email protected]=
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