November 2024 - cypherpunks - lists.cpunks.org

TPR To Become 'Prudential' Regulator After Gov't Reforms
by Gunnar Larson 29 Nov '24

29 Nov '24

TPR To Become 'Prudential' Regulator After Gov't Reforms <https://www.law360.co.uk/financial-services-uk/articles/2266834?nl_pk=a94fc…> By Martin Croucher The retirement savings watchdog has said that its role as a regulator will change as pension schemes become consolidated into much larger megafunds and effectively become too big to fail. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2266834?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2266834?nl_pk=a94fc…>

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Vacation Co. Denies Avoiding Wyndham Hotels' TM Royalties
by Gunnar Larson 29 Nov '24

29 Nov '24

Vacation Co. Denies Avoiding Wyndham Hotels' TM Royalties <https://www.law360.co.uk/financial-services-uk/articles/2265771?nl_pk=a94fc…> By Eddie Beaver A vacation group has denied that it is avoiding paying hotel chain operator Wyndham at least approximately $6.5 million a year in royalties and administration fees, claiming Wyndham knew that the group had no interest in using its trademarks. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2265771?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2265771?nl_pk=a94fc…>

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Police Detain 32 People In Raids On €297M VAT Fraud Network
by Gunnar Larson 29 Nov '24

29 Nov '24

Police Detain 32 People In Raids On €297M VAT Fraud Network <https://www.law360.co.uk/financial-services-uk/articles/2266866?nl_pk=a94fc…> By Josh White Police have detained more than 30 people in raids on a €297 million ($313 million) value-added tax fraud network that spanned 16 EU countries, the European Public Prosecutor's Office said Thursday. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2266866?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2266866?nl_pk=a94fc…>

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Ex-HMRC Compliance Officer Helped Husband Launder £3M
by Gunnar Larson 29 Nov '24

29 Nov '24

Ex-HMRC Compliance Officer Helped Husband Launder £3M <https://www.law360.co.uk/financial-services-uk/articles/2266420?nl_pk=a94fc…> By Eddie Beaver A former compliance officer with HM Revenue and Customs has been handed a suspended sentence for her role in a £3 million ($3.8 million) money laundering operation carried out by her husband, the Crown Prosecution Service has said. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2266420?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2266420?nl_pk=a94fc…>

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Barclays Fights 'Shareholder Rule' In Privilege Dispute
by Gunnar Larson 29 Nov '24

29 Nov '24

Barclays Fights 'Shareholder Rule' In Privilege Dispute <https://www.law360.co.uk/financial-services-uk/articles/2266873?nl_pk=a94fc…> By Ronan Barnard Investors sought to prevent Barclays PLC asserting legal privilege over documents requested for disclosure in securities fraud litigation at a court hearing Thursday, after a judge ruled in a separate case that a "shareholder rule" exception to legal privilege did not exist. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2266873?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2266873?nl_pk=a94fc…>

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FCA Reworks Plans To Name Firms Under Investigation
by Gunnar Larson 29 Nov '24

29 Nov '24

FCA Reworks Plans To Name Firms Under Investigation <https://www.law360.co.uk/financial-services-uk/articles/2266832?nl_pk=a94fc…> By Joel Poultney The Financial Conduct Authority issued "significant" revisions to controversial proposals for publicizing investigations of wrongdoing on Thursday, including a move to give businesses more time to make justifications to the watchdog before being named. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2266832?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2266832?nl_pk=a94fc…>

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Former Finance Execs Must Pay £45M For Takeover Violations
by Gunnar Larson 29 Nov '24

29 Nov '24

Former Finance Execs Must Pay £45M For Takeover Violations <https://www.law360.co.uk/financial-services-uk/articles/2266886?nl_pk=a94fc…> By Najiyya Budaly The financial troubles of three former executives of MWB Group, an investment firm that has collapsed, does not preclude them from owing £44.8 million ($56.8 million) in compensation for violating the U.K. takeover rules by deceiving shareholders, a court ruled on Thursday. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2266886?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2266886?nl_pk=a94fc…>

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xNY.io - Bank.org's Escrow.com Account
by Gunnar Larson 29 Nov '24

29 Nov '24

Dear Jay: How are you? I hope you are doing well. xNY.io - Bank.org's security team has been hearing rumors of potential unauthorized access to our Escrow.com account. Possibly, hackers. Would it be possible for you to kindly confirm the account has not been accessed by unauthorized parties? xNY.io - Bank.org is sincerely greatful for our Escrow.com relationship, and we plan on being strong partners together well into the future. Have a great day, Jay! Gunnar -- Gunnar Larson xNY.io - Bank.org 917-580-8053

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Office of Public Affairs | Cholo Abdi Abdullah Convicted for Conspiring to Commit 9/11-Style Attack at the Direction of Al Shabaab | United States Department of Justice
by Gunnar Larson 28 Nov '24

28 Nov '24

https://www.justice.gov/opa/pr/cholo-abdi-abdullah-convicted-conspiring-com… A jury returned a guilty verdict today against Cholo Abdi Abdullah, 34, on all six counts in the indictment, which included conspiring to provide, and providing, material support to a foreign terrorist organization; and conspiring to murder U.S. nationals, commit aircraft piracy, destroy aircraft, and commit transnational acts of terrorism. Abdullah is scheduled to be sentenced on March 10, 2025. “The jury found that Cholo Abdi Abdullah, an operative of the terrorist organization al Shabaab, conspired to murder Americans in a terrorist attack reminiscent of the September 11 attack on our country,” said Attorney General Merrick B. Garland. “Today’s conviction ensures that Abdullah will spend decades in prison for his crimes. The Justice Department will never stop working to identify, investigate, and prosecute those who would use heinous acts of violence to harm the American people. It does not matter where terrorists hide, they will not evade the long arm of the law.” “Today, the jury returned a unanimous verdict holding Cholo Abdi Abdullah responsible for trying to replicate one of history’s most heinous acts of terrorism,” said U.S. Attorney Damian Williams for the Southern District of New York. “Abdullah trained with al Shabaab for months in Somalia to become a deadly terrorist, and then spent months at flight school preparing to hijack a commercial aircraft to crash it into a building in the United States. Abdullah relentlessly pursued his goals and was on the cusp of getting a commercial pilot license while conducting extensive attack planning, such as how to breach an airplane cockpit door. I commend the tireless work of our federal law enforcement partners and the career national security prosecutors of this office. This effort has been carried forward by generations of agents and prosecutors who never relented in their effort to bring Abdullah to justice and keep this nation safe. Thanks to their work and today’s verdict, Abdullah will now serve a lengthy sentence in federal prison.” According to the indictment and the evidence presented at trial, Abdullah was an operative for the foreign terrorist organization Harakat al-Shabaab al-Mijahideen, commonly known as “al Shabaab,” based in Somalia. After training with al Shabaab for months with AK-47 assault rifles and explosives at a series of safe houses in Somalia, Abdullah participated in a plot to hijack a commercial aircraft and crash it into a building in the U.S. He spent months at a flight school in the Philippines working toward a commercial pilot license, and researched how to obtain pilot jobs, targets such as the tallest buildings in a major American city, transit visas to the U.S., and how to open a cockpit door from the outside. Abdullah also sent encrypted messages reporting his progress to his al Shabaab handler, including his extensive research on post-September 11 hijackings. Abdullah conspired to commit this attack on behalf Al Shabaab, which has sworn allegiance to al Qaeda and is responsible for numerous deadly terrorist attacks, including attacks that have claimed American lives. Starting in or about 2019, al Shabaab embarked on a string of terrorist attacks as part of an operation in response to the U.S.’s decision to move its embassy in Israel to Jerusalem, which the group has dubbed “Operation Jerusalem Will Never be Judaized.” In particular, these terrorist attacks perpetrated by al Shabaab included an attack on Jan. 15, 2019, at a hotel in Nairobi, Kenya, which resulted in the deaths of approximately 21 people, including a U.S. national and survivor of al Qaeda’s September 11 attack on the World Trade Center in New York; a Sept. 30, 2019, attack on a U.S. military facility in Somalia; and a Jan. 5, 2020, attack on another U.S. facility in Kenya, in which three Americans were killed. Abdullah was convicted on six counts: conspiring to provide material support to a foreign terrorist organization, for which he faces a maximum penalty of 20 years in prison; providing material support to a foreign terrorist organization, for which he faces a maximum penalty of 20 years in prison; conspiring to murder U.S. nationals, for which he faces a maximum penalty of life in prison; conspiring to commit aircraft piracy, for which he faces a mandatory minimum penalty of 20 years in prison and a maximum penalty of life in prison; conspiring to destroy aircraft, for which he faces a maximum penalty of 20 years in prison; and conspiring to commit acts of terrorism transcending national boundaries, for which he faces a maximum penalty of life in prison. The FBI New York Field Office’s Joint Terrorism Task Force investigated the case. The Justice Department also thanks the FBI Legal Attaché Offices in Nairobi, Kenya, and Manila, Philippines; the FBI’s Hudson Valley Resident Agency; the Office of International Affairs of the Department of Justice’s Criminal Division; the U.S. Department of Defense; the Kenyan Directorate of Criminal Investigations, including the Anti-Terrorism Police Unit and the Joint Terrorism Task Force-Kenya; the Office of the Director of Public Prosecutions in Kenya; the Philippine National Police; the Philippine Department of Justice; the Joint Terrorism Financial Investigations Group-Philippines; and the Philippine Bureau of Immigration, for their assistance. Assistant U.S. Attorneys Nicholas S. Bradley and Jonathan L. Bodansky for the Southern District of New York and Trial Attorney John Cella of the National Security Division's Counterterrorism Section are prosecuting the case.

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What The Future Of AI In Financial Services Looks Like
by Gunnar Larson 28 Nov '24

28 Nov '24

What The Future Of AI In Financial Services Looks Like <https://www.law360.co.uk/financial-services-uk/articles/2264244?nl_pk=a94fc…> Artificial intelligence is rapidly transforming the global financial services industry, with a hybrid model likely to evolve where AI handles routine tasks and humans focus on strategy and decision-making, so financial institutions should work with regulators to establish ethical standards and meet regulatory expectations without stifling innovation, say lawyers at Womble Bond. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/2264244?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/2264244?nl_pk=a94fc…>

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