recentpopularlog in

jerryking : money_laundering   6

New Ontario initiative targets complex, white-collar crimes
AUGUST 20, 2019 | The Globe and Mail | GREG MCARTHUR.

The Ontario government has quietly launched an initiative intended to solve a problem that has vexed Canadian law enforcement: the successful prosecution of complex, white-collar crimes.

With little fanfare, the province has created what it is calling the Serious Fraud Office (SFO), with a structure that is novel to Canada: teaming up investigators and prosecutors and dedicating them to financial crimes that are too sprawling for any one municipal police force to handle.....Ontario’s office, however, will investigate an array of financial crimes, not just money laundering but large-scale fraud and corruption. It was created to fix long-standing issues with how the government combats such crimes, the two officials in charge of the initiative said in an interview......One of the primary goals is to bridge gaps between investigators and prosecutors......to prevent cases from languishing and forcing judges to throw them out because of unconstitutional court delays. Unlike a traditional police investigation, the SFO’s structure means prosecutors will be heavily involved from the outset of a case........The SFO is also designed to thwart an issue common to most police departments: the frequent shifting of resources away from fraud units whenever police are confronted with a more pressing public-safety issue, such as a threat of terrorism......“White-collar crime investigations are both complex and lengthy. Specialization and long-term experience of both prosecutors and the investigators will be critical to success.”
corruption  financial_crimes  financial_penalties  fraud  fraud_detection  groundbreaking  large-scale  law_enforcement  legal_strategies  money_laundering  Ontario  prosecutors  Queens_Park  securities_enforcement  securities_industry  white-collar  white-collar_crime 
august 2019 by jerryking
Canada must develop a backbone in its dealings with China - The Globe and Mail
CHARLES BURTON
CONTRIBUTED TO THE GLOBE AND MAIL
PUBLISHED 1 DAY AGO

China’s spurious excuse for suspending some Canadian canola imports this week makes it clear that Ottawa needs to get serious about asserting Canada’s interests in diplomatic engagement with this rising global power.....This isn’t about canola. China is resolved to intimidate and coerce Canada, and wants us to realize this beyond any doubt.........China wants to abate any loss of face with a succession of get-tough measures that exterminate any goodwill remaining in the avaricious hearts of Canada’s business elite and their political friends.....The thing is, China no longer wants to comply with the Westphalian system of equal sovereign countries that underlies a rules-based international order, and that is hard for Ottawa to accept. Mr. Trudeau was seriously misled when he thought China would accede to international standards on environmental, gender and labour rights to get a trade deal with a Group of Seven country, but none of his incompetent advisers suffered any consequences for the ensuing fiasco........Ottawa’s feckless appeal to Beijing’s moral decency over the Chinese fentanyl manufacturers, whose product kills thousands of Canadians, was met with a Chinese demand to allow a police liaison officer to be installed in China’s Vancouver consulate – a request that was rejected over national-security concerns. This impudence squares with Beijing’s insistence that Canada allow Huawei equipment to run our telecommunications networks even though China fiercely restricts foreign components in its telecom systems.

Canada must change the channel, immediately. The current dynamic is poisonous to future Canada-China relations...We made a good start by removing John McCallum as ambassador......Ottawa missed a huge opportunity when it learned that China was blatantly violating the Vienna Convention on Diplomatic Relations by pressing Michael Kovrig, under severe duress. Mr. Kovrig would have been party to confidential files as part of the Five Eyes intelligence consortium when he had served as a Canadian diplomat. We should have immediately expelled some of the large cohort of Chinese security agents operating semi-openly in Canada.......But again, by our own design, CSIS is weak and misinformed on China. The best we could do was a pathetic exhortation to “please cease and desist.”Canadian law-enforcement agencies have established that the fentanyl that is killing Canadians is almost entirely from southern China factories, sent here via shipping containers or in the mail. Surely we must have the spine to initiate slow, thorough inspections of all Chinese mail and shipments into Canada, until Beijing takes serious, verifiable measures to address this scourge on our national well-being.

We also need to stop laundering, through Canadian casinos and urban real estate, the corrupt earnings by persons associated with senior levels of China’s Communist Party. We have laws that address this sort of thing, we need to enforce them.

And we can no longer stand idly by as China detains a million or more Uyghurs in its cultural genocide “re-education” internment camps. We have a Magnitsky law list of gross violators of human rights who are unwelcome in Canada. Why are there no Chinese names on it?

Canada’s years of appeasing China’s Communist regime, in the hope of obtaining economic favour, has led us to this horrendous mess.
acquiescence  appeasement  Canada  Canada-China_relations  Charles_Burton  China  China_rising  CSIS  cultural_genocide  fentanyl  Huawei  international_system  intimidation  Meng_Wanzhou  money_laundering  new_normal  reprisals  resolve  rules-based  security_&_intelligence  Uyghurs 
march 2019 by jerryking
North Korea: How Can the U.S. Respond to Sony Hack Attack? - WSJ
Dec. 20, 2014 | WSJ | By JONATHAN CHENG And JEYUP S. KWAAK.

SEOUL—U.S. President Barack Obama ’s warning on Friday of punitive action against North Korea following the cyberattack on Sony Pictures Entertainment raises a sticky question: what can the world’s leading military and economic power do to an isolated country that has successfully resisted decades worth of attempts to rein in its hostility?...However, engaging in any kind of cyber tit-for-tat with North Korea could undermine trust in the security of online banking and shopping services,
North_Korea  cyber_security  cyber_warfare  Sony  retaliation  sanctions  blacklists  economic_warfare  money_laundering  hackers  punitive  retribution  undermining_of_trust  cyberattacks 
december 2014 by jerryking
In ‘Treasury’s War,’ Missiles for a Financial Battlefield - NYTimes.com
August 31, 2013 | NYT | By BRYAN BURROUGH.

THE 21st century has ushered in new kinds of warfare that don’t involve soldiers wielding weapons. One type, cyberwarfare, seems to have drawn the most commentary and analysis. A less publicized type of attack, financial warfare, is covered in “Treasury’s War,” a useful new book by one of this strategy’s architects, Juan C. Zarate, a former assistant Treasury secretary. ... “Treasury’s War” chronicles an array of the department’s enforcement efforts, from corralling informal Middle Eastern money-transfer networks useful to Al Qaeda to tracking Saddam’s missing millions. But the heart of the book is the emergence and evolution of Section 311 of the Patriot Act, which allows the Treasury Department to designate any bank in the world as a “primary money-laundering concern” and prevent it from doing business with any American bank.

In today’s financial world, where every bank wants to do business with every other bank, and where New York and the United States dollar remain of paramount importance, “hitting” a bank with a Section 311 order has the effect of transforming it into an overnight pariah. Mr. Zarate cites example after example in which 311’s have all but destroyed rogue banks that had been important conduits for money flows involving, for example, Al Qaeda or Iran....“Geopolitics is now a game best played with financial and commercial weapons,” Mr. Zarate writes. “The new geoeconomic game may be more efficient and subtle than past geopolitical competitions, but it is no less ruthless and destructive.”
books  book_reviews  Iran  al_Qaeda  geopolitics  U.S.Treasury_Department  statecraft  money_laundering  21st._century  interconnections  sanctions  economic_warfare  economic_policy  banks  policy_tools 
september 2013 by jerryking
For SAS, Asia Offers Risks and Potential - WSJ.com
NOV. 21, 2010 | WSJ| By JASON CHOW. "SAS "uses companies'
historical data to work out their futures."...Q: Where is growth in Asia
coming from? A: We do a lot of work in risk management for banks. We
make sure their risk computations are up-to-date and [help them] with
their anti-money laundering. ...We see a lot of growth from the
pharmaceutical sector. SAS has a tool to analyze clinical trials &
effectiveness of a particular drug. We're seeing more pharmaceutical
drug trials move to Asia, esp. in India....Essentially, anybody who's
got data. And lots of it. Of course, there are things like social-media
analysis that don't require your data. We can tell you what people think
of you or your brand without any data from you. We can search out every
blog & tweet that's been done about you for the last 30 days or
whatever time frame, and tell you how people are thinking of your
brand. We call it sentiment analysis. We're having a hard time keeping
up with customer demand on that product.
SAS  Asian  analytics  social_media  reputation  money_laundering  pharmaceutical_industry  sentiment_analysis  risk-management  historical_data 
november 2010 by jerryking

Copy this bookmark:





to read