Businessman convicted of money laundering at Kilkenny Court
Court Reporter, 26 May 2021
A businessman has been convicted of money laundering at Kilkenny Circuit Court. Bartholomew Ohanya, 42 Carin na Rí, Singland Road, Limerick, pleaded guilty to the charge.
The offence was discovered as gardaí investigated a report a lady in Spain had been deceived of €126,650.
Gardaí examined the accounts of the man who deceived her and could clearly see the money coming in. They could also see transfers from the man to Mr Ohanya. Between June 25, 2018, and September 4, 2018, there were five electronic transfers totalling €21,000. They also saw €25,000 in 14 cash lodgements from the man. Continue reading “Article: Businessman convicted of money laundering at Kilkenny Court”
EML took five days to reveal money laundering concerns
James Frost, 25 May 2021
The Brisbane-based firm, which specialises in pre-paid gift cards and reloadable sports betting cards, revealed it was alerted to the Central Bank of Ireland’s (CBI) concerns about the risk of money laundering in a letter to its wholly owned subsidiary PFS Card Services Ireland Limited (PCSIL) late on Thursday, May 13. Continue reading “Article: EML took five days to reveal money laundering concerns”
The Bogus “Super Dollars” That Fooled the World for Two Decades
EXPLICA .CO, 25 May 2021
The forgery was so perfect that even US Secret Service experts could not initially determine whether it was real dollars or a copy before them.
Only after a sophisticated forensic analysis were they able to confirm that they were fakes. But those $ 100 bills were so millimeter perfect who nicknamed them “The false superdollars.” They had the same high-tech color change ink as real US dollars.
They were also printed on paper with exactly the same fiber composition as the originals: three-quarters of American cotton and one-quarter of linen. The recorded images were, if anything, finer than those produced by the United States Bureau of Engraving and Printing.
Kirill Kukhmar Even machines were hard to recognize counterfeit. A little variation, then reported the New York Times, which revealed that they were not original. The United States was very alarmed that counterfeits were passing through the banks undetectedas no one could tell the difference.
These “super dollars” circulated around the world in the 1990s and 2000s. During these years, the United States decided to change the design of the US $ 100 bills twice, but counterfeiters managed to adapt.
They appeared in Denmark, France, Austria, Germany, Latvia, Russia, the Czech Republic, and Ireland. Also in Russia.
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CASHING IN Crime gangs running sophisticated scams are making millions off Irish victims
Eamon Dillon, 15 May 2021
Ireland is being swamped by criminal gangs running widespread scams that are raking in millions in profits.
Targeting individuals and commercial firms, fraudsters are becoming more sophisticated and are constantly changing their tactics. Last month, 163 people reported attempts by fraudsters to trick them into handing over personal details – five times the level compared the same period in 2019. Continue reading “Article: CASHING IN Crime gangs running sophisticated scams are making millions off Irish victims”
Swiss franc climbs after US adds it to ‘manipulation’ watchlist
Sam Jones in Zurich and Eva Szalay in London , 15 January 2020
The Swiss franc nudged up to a near three-year high against the euro on Tuesday as markets anticipated the move would limit the Swiss National Bank’s appetite for aggressive action to try to hold down its currency in future.
“The report is a warning shot to the SNB,” said George Saravelos, global co-head of currency research at Deutsche Bank, adding that the franc is likely to push higher from here. It now trades around CHF1.08 against the euro.
The US called on Bern on Monday to “more forcefully support domestic economic activity” by spending money and reducing the country’s already low tax burden, in what was an unusual swipe at a sovereign nation’s financial affairs. “Despite borrowing costs for the Swiss government being among the lowest in the world, fiscal policy remains underutilised, even within the constraints of Switzerland’s existing fiscal rules,” the US Treasury said in its assessment.
The SNB said on Tuesday that its interventions were transparent, and “motivated purely by monetary policy . . . aimed at addressing the negative consequence for inflation and the economy through a highly valued franc.”
“They are not aimed at giving Switzerland advantages by undervaluing the Swiss franc,” it added.
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