I have a newsletter in preparation but there's stuff still to do. But, sometimes, it's worth jotting a few notes mainly for myself but perhaps of some interest or use to others. In any case, there's a thing about writing. If you can't write what you want, write anything, no matter how random or rubbish, to get the "I'm a writer" part of the brain going. So, here are meanderings (and that bit was written after the rest of the page so it's worked. Ish). And if you think it's a waste of your time, stop reading. Or learn the technique because it might help you when.... Read on to find out when.
It all started when I was looking at the visitors' logs for this website.
Actually, it all started when I got up this morning and wanted something in particular for lunch. That was impossible, and that's why I was looking at the visitors' logs.
(There will be no blogcast of this article because it's got nothing to do with financial crime!)
In this last newsletter before whatever Christmas will mean this year and, indeed the last newsletter for 2020, let’s have a look at just two of the several live issues in relation to financial crime risk and compliance.
But first, welcome to the several hundreds of new subscribers since my previous newsletter and to those joining us for the first time from our e-learning platform.
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One of the most quoted sayings of Sun Tzu ("No plan survives the first contact with the enemy") isn't by Sun Tzu. But there is at least some evidence that an ear-biting, wife-beating boxer said "no plan survives the first punch in the face" (although even that is told in several different versions). So I feel entirely justified in coming up with my own variant on the original misquote.
No plan survives the first contact with the Year of the Rat (or 2020 - take your pick)
It sounds like a letter on an agony aunt page, doesn't it? But no, it's actually a series of sensible questions from someone who is bamboozled by the jargon in the financial sector. Here it is, with my replies.
When Des Hellicar-Bowman referred to a 19th Century book, "The Theory of the Leisure Classes" by Thorstein Veblen, I knew it would be good because Mr Hellicar-Bowman and I take a similar view of financial crime in that it the only way to understand it and therefore to effectively counter it is to make a broad study of everything to do with it, including those things that appear to be only peripherally relevant. The book is obliquely applicable to financial crime but it is directly relevant to how we view assets and source of funds and source of wealth. Here's what I found....
We are, once more, seeing unprecedented times as country after country sets records for daily infections with CoVid-19. But there's a forgotten, perhaps unrecognised, group of people who are deserving of attention.
Malaysia Update 2020: Kuala Lumpur 27/28 October 2020
Organised by 3Novex Asia.
UPDATE: Due to increased restrictions due to coronavirus infection rates, this event has been postponed. A new date will be published when more information is available. Until then, please do contact the organisers to make sure you are kept up to date.
There is, at present, a state of excitement amongst the media, some financial crime consultants and some politicians in response to what they are being told is public opinion.
The so-called FinCEN Files were heavily telegraphed in a media blitz more akin to the launch of a Hollywood film that has cost a fortune but the result isn't as good as was hoped.
In the USA and the UK, mainstream media outlets have published a series of articles that, they say, arise because of what it has found in documents obtained from the USA's Financial Intelligence Unit, FinCEN.