UK police arrested a suspected counterfeit credit card manufacturer in east London on Monday. Investigators reckon the 34-year-old man organised money "mules" to open drop accounts that received the proceeds of online crime, such as phishing. Police from the Scotland Yard-based Police Central e-crime Unit (PCeU) also found …
Money muling on the rise
Seems the crackdown on "know your customer" and subsequently requiring banks to tattle on your every transaction while passing moral judgement was successful. In the sense that now the clients have become prime targets for coercion to provide whitewashing accounts.
I can't help but think that the people pushing the legislation must've been either flabberghastly stupid (and why did they end up in important positions like that, then?) or perhaps wilfully opening up the opportunity for more criminals to be made.
In intelligence it is well known that an adversary spy is a danger in and of itself, but a known adversary spy another thing entirely. You can "catch" him, or you can leave him be for as long as it suits you and make use of his "services". Something like that they could've done in banking, but noooo, they chose the path of maximising the number of criminals in the system. And that in turn means that a lot of gullible people are now getting slapped for believing the tales the money mule recruiting scammers spin. So much for the government protecting the weak.
I think, in all, that the rules here do the average person a disservice and moreover that the financial authorities could have built a system that didn't spread the crime-love around quite as far and wide, but apparently chose not to. Carry on government.
Sounds like fear raisining against budget cuts
Government entities step up self-aggrandising activities when it appears that budgets are being slashed.
Send more money, so we can do it again!
I suppose it has always been to easy to "rob" Banks, and who the hell is still using magnetic strips. Perhaps the EU could do something to raise the standard and morale of banking.
(not too optimistic, though).
Private Finance Initiative
UK research into cybercrime and the sums of monies that can be gained has encouraged a £billion investment by UK Government into a cybercrime unit.
The unit will target vulnerable, nations, states, organisations and individuals and aim to con, swindle or otherwise accrue money and assets to be handed over to UK Government.
The UK Government Chancellor said:
For too long UK has been the poor man in Europe.
For too long have we seen vast sums of money swindled from hard working taxpayers
For too long have we overlooked this excellent opportunity to line Treasury vaults with lovely lucre.
Therefore, I am pleased to announce to the House that this Government, yes, T-H-I-S Government will now use those same techniques to restore wealth to the wealthy and poverty to the poor.
It is a natural justice for the wealthy to be wealthy and the poor to be poor.
Can you, yes, even you, imagine in your wildest dreams what it must be like for the wealthy to become poor and the poor to become wealthy?
Anarchy and chaos will ensue unless we take this vital step towards Britain's wealth, prosperity and honour!
I commend the budget to the House.
Money mules and the Caymen Islands
The poor old money mules were heading in the wrong direction.
If Channel 4's Despatches programme is to be believed.
The definitely NOT Tax Havens seem to be Caymen Islands, British Virgin Islands, ...
And it definitely does NOT seem that most Tory government ministers or Tory Party sponsors/funders ever use those NOT tax havens in order to increase personal wealth and avoid paying UK taxes.
And, of course, money laundering is perfectly legal provided one has used gaps or loopholes in UK law to do so. Why, even Philip Green seems to ... well, you know
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