Dispatches from the Field March 2012 Fraud & Scam Alerts
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“Risk Comes from Not Knowing What You Are Doing.” -Warren Buffet
5/5/2016 Bank Secrecy Act GBA Compliance School Athens, GA Thomas Williams, CRCM, CCBIA SVP, Senior Compliance Manager United Bank May 5, 2016 Definition of Risk “Risk comes from not knowing what you are doing.” -Warren Buffet 2 Background What is Money Laundering? 3 1 5/5/2016 Background October 1970 • Congress enacted the Currency and Foreign Transactions Reporting Act , which is now what we know as the Bank Secrecy Act. • Granted the Secretary of the Treasury authority to impose regulations on insured banks. • Required U.S. financial institutions to assist U.S. government agencies to detect and prevent money laundering. 4 Background Money Laundering Control Act (1986) o Established money laundering as a federal crime o Prohibited structuring transactions to evade CTR filings o Introduced civil and criminal forfeiture for BSA violations o Directed banks to establish and maintain procedures to ensure and monitor compliance with the reporting and recordkeeping requirements of the BSA 5 Background Anti-Drug Abuse Act of 1988 o Expanded the definition of financial institution to include businesses such as car dealers and real estate closing personnel and required them to file reports on large currency transactions o Required the verification of identity of purchasers of monetary instruments over $3,000 6 2 5/5/2016 Background Annunzio-Wylie Anti-Money Laundering Act (1992) o Strengthened the sanctions for BSA violations o Required Suspicious Activity Reports and eliminated previously used Criminal Referral Forms o Required verification -
March 2019 Branch Executive Officers
Foxy’s Tales 1973 2019 March 2019 Branch Executive Officers President (613 -838 -4269) Brian Goss Immediate Past President (613 -838 -3244) Jane Louks First Vice President (613 -838 -2548) John Villeneuve Secretary (613 -838 -6078) Elizabeth Douville Treasurer (613 -838 -3721) Shirley Morris Sgt -at -Arms vacant The Royal Canadian Legion Branch 625 6430 Ottawa St. W. Box 625, Branch Executive Committee Richmond, Ontario K0A 2Z0 Joanne Heinbuch Phone 613 -838 -2644 Jack Lemyre Mavis Lewis Website: www.richmondlegion.ca Tom Louks Wendy Ryan Club 55 Executive Louis Seward - - Branch Committee Chairs President (613 838 2138) Joanne Heinbuch Past President (613 -838 -4269) Brian Goss - - Bar (613 -838 -3244) Tom Louks Vice President (613 838 2548) John Villeneuve Branch Regulations Jack Lemyre Secretary (613 -838 -6078) Elizabeth Douville Bursary Wendy Ryan Treasurer (613 -838 -3244) Tom Louks Bulletin ([email protected]) Wendy Ryan Cenotaph Jane & Tom Louks Committees Chaplain (613 -838 -3942) Dcn. Louis Seward Hall Rentals Shirley Morris & Branch Liaison Shirley Morris Jane Louks Cards (for people) Brenda Goss Honours & Awards Jane Louks Coffee John Villeneuve Membership Shirley Morris Euchre Joyce Cook Poppy Jane Louks Exercise Shirley Morris Property Johnny Villeneuve & John Olsen Public Relations vacant Service Officer (613 -838 -3948) Jack Lemyre Membership Joanne Heinbuch Sick & Visiting Louis Seward & Movies Tom Louks Shirley Morris Telephone Marg Hogan Sports Mavis Lewis Training & Development Vacant Ways & Means and Catering Jane Louks Website Wendy Ryan Youth (613 -838 -6078) Elizabeth Douville Deadline to submit for the next bulletin is always the third Friday of the month by 6 pm please Send to [email protected] All articles appearing in this publication are the opinions of their author. -
COMPARATIVE EXAMINATION on INVESTMENT SCAMS FACTORS with FRAUD TRIANGLE and FRAUD ELEMENTS TRIANGLE ANALYSIS (Case Study of Char
COMPARATIVE EXAMINATION ON INVESTMENT SCAMS FACTORS WITH FRAUD TRIANGLE AND FRAUD ELEMENTS TRIANGLE ANALYSIS (Case Study of Charles Ponzi Investment Scheme and Bernard Madoff Investment Scheme) A THESIS Presented as a Partial Fulfillment of the Requirements to Obtain the Bachelor Degree in Accounting Department By: Fidelia Salsabila Student Number: 13312049 DEPARTMENT OF ACCOUNTING INTERNATIONAL PROGRAM FACULTY OF ECONOMICS UNIVERSITAS ISLAM INDONESIA YOGYAKARTA 2018 i COMPARATIVE EXAMINATION ON INVESTMENT SCAMS FACTORS WITH FRAUD TRIANGLE AND FRAUD ELEMENTS TRIANGLE ANALYSIS (Case Study of Charles Ponzi Investment Scheme and Bernard Madoff Investment Scheme) A THESIS Presented as a Partial Fulfillment of the Requirements to Obtain the Bachelor Degree in Accounting Department By: Fidelia Salsabila Student Number: 13312049 DEPARTMENT OF ACCOUNTING INTERNATIONAL PROGRAM FACULTY OF ECONOMICS UNIVERSITAS ISLAM INDONESIA YOGYAKARTA 2018 ii COMPARATIVE EXAMINATION ON INVESTMENT SCAMS FACTORS WITH FRAUD TRIANGLE AND FRAUD ELEMENTS TRIANGLE ANALYSIS (Case Study of Charles Ponzi Investment Scheme and Bernard Madoff Investment Scheme) A THESIS Presented as a Partial Fulfillment of the Requirements to Obtain the Bachelor Degree in Accounting Department By: FIDELIA SALSABILA Student Number: 13312049 DEPARTMENT OF ACCOUNTING INTERNATIONAL PROGRAM FACULTY OF ECONOMICS UNIVERSITAS ISLAM INDONESIA YOGYAKARTA 2018 vi ACKNOWLEDGEMENTS Assalamu’alaikum Warahmatullahi Wabarakatuh. All perfect praise to Allah SWT, the Lord of the World. I bear witness that -
Ethiopia Appoints Sahle-Work Zewde As First Female
AREAS OF Higher Standards Agents... Higher Results! Buy • Sell • Lease MEZED FINANCIAL SERVICES PRACTICE Sunday (Sunny) Adodo GET OUT OF DEBT TODAY Sales Representative • Too much debt not enough income….. • Immigration & DROWNING 1111 Finch Avenue W., # 201, Toronto Cell: 647-200-7359 • Reduce your debt up to 75% no interest….. Refugee Law HomeLife Woodbine Realty Inc., Brokerage IN • Consolidate debt with no interest payments… Tel: 647-879-7331 Each Office Independently Owned & Operated DEBT • Settle your debt without bankruptcy… Fax: 416-391-6107 • Business Law 680 Rexdale Blvd., Unit 202, Toronto ON M9W 0B5 FREE CONSULTATION WE • Stop collection calls and garnishments … • Family Law [email protected] • Get rid of your tax debt and court actions… [email protected] Off: 416-741-4443 416-848-7035 CAN HELP • Stop stressing and call us today ….. www.ugoudogulaw.com • Civil Litigation Fax: 416-679-0443 www.sundayadodo.com TO INFORM • EDUCATE • EMPOWER • ENTERTAIN THE CANADIAN NEWSPAPER Vol 13 | Issue 10 | OCTOBERNIGERI 2018 | “THE THIRD EYE OF THE COMMUNITY” | Tel: 416-318-3506 | [email protected] | Awww.nigeriancanadiannews.caN CDN$1, US$1, N200 RICHARD ODELEYE ETHIOPIA APPOINTS SAHLE-WORK L A W F I R M ZEWDE AS FIRST FEMALE PRESIDENT (RICH LAW) By N.Ugoh thiopia surprisingly ap- pointed a woman to be her EPresident for the first time. The appointment was made when Ethiopian lawmakers picked • Business Law maverick diplomat Sahle-Work • Mining Law Zewde in a unanimous vote as Area of Prac�ce • Nigerian Law Mulatu Teshome’s replacement. IMMIGRATION & REFUGEE • Immigration & Refugee Law Despite the fact that Sahle- CIVIL LITIGATION. -
Vital Collective Learning from Biased Media Coverage Acquiring Vigilance to Deceptive Strategies Used in Mugging the World -- /
Alternative view of segmented documents via Kairos 25 July 2014 | Draft Vital Collective Learning from Biased Media Coverage Acquiring vigilance to deceptive strategies used in mugging the world -- / -- Introduction Biased coverage of controversy by news media Clues to possible vigilant interpretation of media coverage Strategic leadership as a "shell game"? Acquiring vigilance through recognition of media bias Elaboration of a system of media "con codes" Future credibility of media presentations by authority References Introduction This is an exploration of exposure to media reports on the Israeli military ground invasion of the Gaza Strip, ordered on 17 July 2014 -- only hours after the destruction over Ukraine of the Malaysian Airlines flight MH17 by missile. Both cases have given rise to conflicting, unconfirmed reports by a variety of authorities. Justifications for any interpretation are readily -- even assertively -- offered. There is a bizarre irony to the fact that the number of deaths by rocket in Palestine (preceding the ground invasion) was of the same order as the death toll of 283 passengers on MH17. With the death of 193 Dutch nationals on MH17, further curiosity is aroused by the court ruling on the preceding day that the Netherlands was liable for the deaths of 300 Bosnian Muslims during the Srebrenica massacre in 1995 (Dutch state liable over 300 Srebrenica deaths, BBC News, 16 July 2014). New complications are evident with the defensive arguments presented by Israeli authorities regarding an attack on a UNRWA school in Gaza a week later (Israeli strike on Gaza school kills 15 and leaves 200 wounded, The Guardian, 24 July 2014). -
From Ponzi to Madoff: How to Teach Your Students About Fraud and Scams … and Hopefully Have Some Fun in the Process!
From Ponzi to Madoff: How to Teach Your Students About Fraud and Scams … and hopefully have some fun in the process! Judith Shaw, Esq., Securities Administrator, Maine Office of Securities The Maine Office of Securities The Office of Securities regulates the securities industry in the State of Maine and welcomes consumer complaints and questions, including questions about investments, financial professionals, and securities laws. The Office also educates Maine investors on how to identify red flags for financial fraud and provides resources addressing how to protect yourself from fraud and scams. Phone: (877) 624-8551 (toll-free in Maine) (207) 624-8551 Website: www.investors.maine.gov 2 In the Classroom . What is Securities Fraud? . Top Ten Financial Con Men . Red Flags & How to Protect Yourself . Group Activity 3 Securities Fraud . Investment fraud, also known as securities fraud, is the violation of the securities laws when investors are induced to make purchase or sale decisions on the basis of false information, frequently resulting in losses. Securities include stocks, bonds, investment contracts, and promissory notes among other things. Investment fraud can take many forms including: . unsuitable investments . fraudulent offerings (e.g., Ponzi schemes) . unregistered products . unlicensed advisers/ brokers . theft or misappropriation of funds 4 Pyramid or Ponzi Scheme? Pyramid Scheme Ponzi Scheme Earn high profits by making one payment Earn high investment returns with little and finding others to become distributors or no risk; often the investment does Typical of a product. The purported product may "hook" not exist or only a small percentage of not exist or it may be "sold" only to other incoming funds are actually invested. -
The True Link Report on Elder Financial Abuse 2015
The True Link Report on Elder Financial Abuse 2015 January 2015 About True Link Financial True Link Financial is a San Francisco, California-based financial services firm that helps seniors and their families protect themselves from fraud, exploitation, and financial abuse. The company offers tools to detect suspicious activity and block unwanted transactions, preserving seniors’ independence and keeping their money safe. True Link’s data science team is dedicated to building world-class tools that prevent elder financial abuse and sharing its research to aid others also working toward that vision. The survey research underlying this report was produced as a collaboration between the True Link data science team and Laurie Orlov. Orlov spent nine years as a leading industry analyst at Forrester Research before founding an independent research and analysis firm focused on aging. She has produced numerous research studies related to aging on behalf of clients such as Philips and AARP. For more information about True Link Financial, please visit: www.truelinkfinancial.com. © 2015 True Link Financial Table of Contents Executive Summary ........................................................................................ 1 Research Goals ................................................................................................ 4 Reconcile discrepancies among previous studies .................................. 4 Align research with accepted definitions of elder financial abuse ...... 5 Gain a deeper understanding of sources of vulnerability -
Consumer Federation of America North American Consumer Protection Investigators 2013 Consumer Complaint Survey Report July 30, 2
Consumer Federation of America North American Consumer Protection Investigators 2013 Consumer Complaint Survey Report July 30, 2014 Consumer Federation of America North American Consumer Protection Investigators 2013 Consumer Complaint Survey Report Table of Contents INTRODUCTION................................................................................................... 3 KEY FINDINGS...................................................................................................... 4 TOP COMPLAINTS................................................................................................ 6 FASTEST GROWING COMPLAINTS....................................................................... 7 WORST COMPLAINTS........................................................................................... 7 NEW TYPES OF CONSUMER PROBLEMS.............................................................. 7 NEW LAWS NEEDED............................................................................................. 8 REAL-WORLD COMPLAINTS AND WHAT CONSUMERS SHOULD DO................... 10 AUTO....................................................................................................... 10 BUSINESS OPPORTUNITIES..................................................................... 13 CHARITIES............................................................................................... 13 CREDIT/DEBT........................................................................................... 14 FRAUD....................................................................................................