Report found bank card

Share to Twitter Share to Linkedin DOJ’s 2022 Year In Review Report released last month not only recounts its Fraud Section’s activity and “accomplishments” for the preceding year, but also allows practitioners and in-house counsel responsible for helping companies and their executives navigate the shoals of corporate compliance anticipate the government’s likely future focus. This year’s Report first suggests that in the upcoming years DOJ will continue to focus on individual accountability for corporate malfeasance particularly in the area of financial fraud and market manipulation. In fact, the Report was released at the same time that DOJ leadership was commending the Department’s convictions of individuals such as Elizabeth Holmes and Sunny Bulwani . Second, the Report also foreshadows an increase in independent compliance monitorships in corporate resolutions, a practice previously avoided under a Trump-era policy . Again, public comments, including … [Read more...] about Fraud Section Report Helps Companies’ Counsel Navigating DOJ’s Seas

PHUKET: Police have arrested a Taiwanese man who was found in the illegal possession of bankbooks and ATM cards for 12 Thai bank accounts opened by local residents. Chen Yu-Chung, 34, was arrested on Saturday, after a tip-off from a Phuket tuk-tuk driver, who told police that he was paid 6,000 baht to open a bank account in Patong. “The 47-year-old tuk-tuk driver, Suwaroj Kaebutr, said that he had heard of this type of thing before,” said Col Sutthichai Tianpho of the Patong Police. “He said it didn’t feel right, and that he had heard of foreign criminal gangs paying local people to open bank accounts for them.” Related news Tour bus crash on Patong Hill seriously injures driver 8 hours ago Robust Phuket tourism numbers in Q4 last year and high winter season set the stage for recovery by year-end 13 hours ago Mr Suwaroj met Mr Chen last Thursday and handed over the bankbook and ATM card for the account he was paid to open. Police … [Read more...] about Taiwanese “bank account mule’ arrested in Patong

Potential Thai scammers, particularly in Nakhon Phanom province, are racing to close suspected mule bank accounts after a new cybercrime law was enacted. According to the Pattaya Mail, the new law took effect on March 17, deeming that those who open a bank account or register a SIM card for a third party for illegal use will face jail time and/or a fine. The new law has some rushing to close their bank accounts so as not to be subjected to jail time of up to three years or to receive a fine of up to 300,000 baht. The Royal Decree on Cyber Crime Prevention and Suppression now allows banks to suspend accounts that are suspected of being used for illegal transactions. Villagers, who may have opened such bank accounts, notified police about their suspected mule accounts and contacted their banks to close them to escape punishment under the new law. Related news Bangkok Airways to launch Koh Samui – Hong Kong route 5 hours ago Thailand … [Read more...] about Potential Thai scammers race to close mule bank accounts as new cybercrime law enacted

Share to Twitter Share to Linkedin Topline Goldman Sachs revealed that the company is using generative AI tools to aid its software developers in writing and testing code, just weeks after reports of major U.S. banks—including Goldman—restricting staffers’ use of ChatGPT. Key Facts The bank’s use of generative AI was only a “proof of concept,” Marco Argenti, Goldman’s chief information officer told CNBC Tuesday. The AI tool has been used by the company’s software developers to write “as much as 40%” of code in some cases, the report said. The tool does not intend to fully replace human coders, but rather make them “more productive,” Argenti said. Argenti did not disclose which generative AI tool is being used by the investment bank Key Background Last month, the Telegraph and Bloomberg reported that JPMorgan Chase had restricted the use of ChatGPT by its staff. The reports suggested that the ban wasn’t a result of any … [Read more...] about Goldman Is Reportedly Using AI To Write Code As Banks Crack Down On ChatGPT Use

Bailey, Governor of the Bank of England, attends the Bank of England Monetary Policy Report Press Conference, at the Bank of England, London, Britain, Feb 2, 2023. Yui Mok/Pool via REUTERS/File photo LONDON  -The Bank of England is expected to raise interest rates for the 11th time in a row on Thursday after a surprise jump in inflation dashed speculation that it might have been about to take a pause. The BoE is trying to reconcile Britain’s weak economic outlook and recent worries about global banks with stubbornly high price growth, and is due to announce its latest decision on rates at 1200 GMT. Most economists had believed inflation was on course to fall steadily, after hitting a 41-year high above 11 percent in October. But Wednesday’s data showed inflation rose to 10.4 percent in February rather than continuing its descent and immediately turned Thursday’s announcement into an almost one-way bet on a quarter percentage-point increase in Bank Rate. UK inflation … [Read more...] about Inflation shock puts Bank of England on course to raise rates again

Chairman Thomas Jordan of the Swiss National Bank (SNB) attends a news conference in Zurich, Switzerland, March 23, 2023. REUTERS/Denis Balibouse ZURICH  -The Swiss National Bank raised its benchmark interest rate by 50 basis points on Thursday and declared that measures to support Credit Suisse had “put a halt to the crisis”. The central bank said that additional rate rises could not be ruled out and that it was willing to be active in the foreign exchange market if necessary. “The measures announced at the weekend … have put a halt to the crisis,” it said in a statement. “The SNB is providing large amounts of liquidity assistance in Swiss francs and foreign currencies.” The rates increase was the SNB’s fourth hike in succession as the central bank maintained its fight against Swiss inflation, which remains stubbornly outside the SNB’s target band of 0 -2 percent. “The growth outlook for the global economy in the coming quarters remains subdued,” said the SNB in a … [Read more...] about Swiss National Bank raises rates, says bank crisis stopped

Share to Twitter Share to Linkedin Bitcoin BTC and cryptocurrencies have rocketed higher over the last week as the Silicon Valley Bank-led banking crisis sparks worrying hyperinflation fears . Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster The bitcoin price has added almost 50% since early March, helping the ethereum price and other cryptocurrencies rally, due to rising expectations the Federal Reserve will pivot from its hawkish stance in the face of slowing inflation and bank collapses . Now, Tesla billionaire Elon Musk has waded into the debate, sending a warning to U.S. president Joe Biden after the Federal Reserve raised interest rates again. It's at the beginning of a bull run you need up-to-date information the most! Sign up now for the free CryptoCodex — A daily newsletter for traders, investors and the crypto-curious that … [Read more...] about ‘Banks Are Melting’—Elon Musk Sends Warning To Joe Biden And The Fed Amid Wild Bitcoin, Ethereum And Crypto Price Swings

MANILA  – The Monetary Board as expected raised the Bangko Sentral ng Pilipinas key policy rate by 0.25 percentage point (or 25 basis points) to 6.25 percent as inflation remained high in February Asked whether this was the last hike in the current monetary policy tightening cycle, MB chair and BSP Governor Felipe Medalla said in a press briefing that the decision in upcoming meetings would depend on data that would come in. “It would really depend on our assessment of the inflation picture in the Philippines,” Medalla said. BSP Deputy Governor Francisco Dakila Jr. said the MB revised downward the forecast for average inflation in 2023 to 6 percent from 6.1 percent, and for 2024 to 2.9 percent from 3.1 percent. This was after the annual inflation slightly slowed to 8.6 percent in February. The move, which was predicted by all but one of 24 economists in a Reuters poll, brought to 425 basis points the total hikes the central bank has delivered since May 2022. The BSP … [Read more...] about Philippine central bank raises key policy rate by 25 bps

Share to Twitter Share to Linkedin In what should go down as one of the all-time greatest propaganda campaigns in U.S. history, members of Congress convinced millions of Americans that deregulation caused the 2008 financial crisis. Following the collapse of Silicon Valley Bank, they’re at it again. Predictably, populists such as Senator Elizabeth Warren (D-MA) are blaming the SVB failure on “rolling back” the 2010 Dodd-Frank Act’s stricter oversight. Aside from whether Dodd-Frank regulations were effective at all or amounted to anything more than additional paperwork and higher capital requirements, Congress has never repealed a single Title of Dodd-Frank. Warren’s argument amounts to whether additional stress testing, capital, or liquidity would have saved SVB. But Dodd-Frank stress tests are designed to ensure sufficient capital to cover losses resulting from “adverse economic conditions,” not from individual mistakes or bad strategies. Separately, … [Read more...] about SVB Debacle Brings The Fed One Step Closer To Becoming Provider Of First Resort

A Thai man was labelled “a serious threat to society” by a judge who sentenced the pervert to two years in jail for allegedly installing hidden cameras in women’s toilets at the Australian Embassy in Bangkok . Nayot “Bank” Thamsongsana, a former IT worker at the Australian embassy in Bangkok, has been convicted in the Bangkok South Criminal Court after pleading guilty to two counts of committing indecent acts against persons over the age of 15 by threatening them. The investigation revealed that the pervert secretly filmed 60 women, all of whom provided statements to the Royal Thai Police. Two of the women who were filmed filed complaints that formed the basis of the prosecution’s case. The judge sentenced Nayot to four years in prison, but this was reduced to two years due to his guilty plea. The judge stated that the pervert’s actions were “a serious threat to society and had caused psychological damage.” Related news Bangkok Airways to launch Koh … [Read more...] about Thai pervert jailed for 2 years for hidden cameras in Australian Embassy, Bangkok