The European Banking Authority (EBA) is an independent EU Authority which works to ensure effective and consistent prudential regulation and supervision across the European banking sector. Its overall objectives are to maintain financial stability in the EU and to safeguard the integrity, efficiency and orderly functioning of the banking sector.
INTERPOL warns of financial fraud linked to COVID-19
INTERPOL is encouraging the public to exercise caution when buying medical supplies online during the current health crisis, with criminals capitalizing on the situation to run a range of financial scams.
With surgical masks and other medical supplies in high demand yet difficult to find in retail stores as a result of the COVID-19 pandemic, fake shops, websites, social media accounts and email addresses claiming to sell these items have sprung up online.
But instead of receiving the promised masks and supplies, unsuspecting victims have seen their money disappear into the hands of the criminals involved.
Scams linked to the virus include:
Telephone fraud – criminals call victims pretending to be clinic or hospital officials, who claim that a relative of the victim has fallen sick with the virus and request payments for medical treatment;
Phishing – emails claiming to be from national or global health authorities, with the aim of tricking victims to provide personal credentials or payment details, or to open an attachment containing malware.
In many cases, the fraudsters impersonate legitimate companies, using similar names, websites and email addresses in their attempt to trick unsuspecting members of the public, even reaching out proactively via emails and messages on social media platforms.
If you are looking to buy medical supplies online, or receive emails or links offering medical support, be alert to the signs of a potential scam to protect yourself and your money.
- Independently verify the company/individual offering the items before making any purchases;
- Be aware of bogus websites – criminals will often use a web address which looks almost identical to the legitimate one, e.g. ‘abc.org’ instead of ‘abc.com’;
- Check online reviews of a company before making a purchase – for example, have there been complaints of other customers not receiving the promised items?;
- Be wary if asked to make a payment to a bank account located in a different country than where the company is located;
- If you believe you have been the victim of fraud, alert your bank immediately so the payment can be stopped.
- Do not click on links or open attachments which you were not expecting to receive, or come from an unknown sender;
- Be wary of unsolicited emails offering medical equipment or requesting your personal information for medical checks – legitimate health authorities do not normally contact the general public in this manner.
http://ourrescue.org/ – OPERATION UNDERGROUND RAILROAD (O.U.R.)
In the past six years of existence, O.U.R. has rescued 3,300 victims and assisted in the arrests of more than 1,800 traffickers around the world. The partners we are empowering have collectively helped rescue the lives of more than 10,000 survivors who were enslaved, exploited or at risk.
Free online training on Human Trafficking: http://ourrescue.org/training
Other Human Trafficking resources:
I Survived Sex Trafficking
Outcomes FATF Plenary, 19-21 February 2020
Paris, 21 February 2020 – FATF President Xiangmin Liu of the People’s Republic of China, chaired the second Plenary under the Chinese Presidency of the FATF from 19-21 February 2020.
FATF Presidency 2020-2022:
The Plenary selected Dr Marcus Pleyer (Germany) to be the next FATF President. His term will begin on 1 July 2020, and he will be the first FATF President with a two-year term. Dr Pleyer currently holds the position of FATF Vice-President. He will continue in that role until the start of his term as President, at which point the FATF Plenary will appoint a new Vice-President.
The following terms explained by Andreas Antonopoulos: private / public keys, hash functions, elliptic curve, addresses, and signatures. How can you create an address offline? How does the Bitcoin network “find out” about the address?
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The Internet of Money” series, and “Mastering Ethereum.”
Books: Something Will Turn Up, by David Smith
The Sunday Times economics editor David Smith presents a readable, informative history of the British economy since World War II.
Great Britain was the first leading manufacturing country. Even as late as 1950, it produced 25% of the world’s manufacturing exports. It generated a trade surplus in manufactured goods that amounted to as much as 10% of its gross domestic product (GDP).
Until the 1970s, the United Kingdom’s West Midlands manufacturing region maintained wage levels just slightly lower than those of the prosperous and diversified southeast region around London. That stands in marked contrast to today’s large income disparity between the regions. When the trade surplus in manufactured goods disappeared in 1982, never to return, it took many well-paid blue-collar Midlands jobs with it.
As the British Empire became the Commonwealth, its countries maintained strong trade links with the United Kingdom, underpinned by continuing preferential trade agreements. In the 1950s, the UK traded 40% of its exports and 35% of its imports with Commonwealth nations. Given the damage World War II had inflicted on mainland Europe’s economy, the captive markets of the Commonwealth gave the UK a postwar advantage. But that contributed to complacency and a lack of investment in British manufacturing; Britain took the Commonwealth markets for granted.
While Europe – and especially Germany – recovered its manufacturing capability in the postwar period, Britain’s manufacturing continued to decline. It suffered from low investment, a “failure to modernize,” inflation and poor industrial relations. High interest rates decimated the sector during the “strong pound recession” of the early 1980s. Four million manufacturing jobs disappeared between 1973 and 1983.
The volume of manufactured goods peaked in 1973 and didn’t regain those heights, in real terms, until 2010. Specialized manufacturing still matters to the United Kingdom. Japanese-owned automobile plants have returned the UK to its status as a net car producer, but other sectors of the economy have since become more important than manufacturing.
5th Anti-Money Laundering Directive (Amendments to the 4th Anti-Money Laundering Directive)
The 5th Anti-Money Laundering Directive, which amends the 4th Anti-Money Laundering Directive was published in the Official Journal of the European Union on 19 June 2018. The Member States should have been transposed this Directive by 10 January 2020.
These amendments introduce substantial improvement to better equip the Union to prevent the financial system from being used for money laundering and for funding terrorist activities.
These amendments will:
– enhance transparency by setting up publicly available registers for companies, trusts and other legal arrangements;
– enhance the powers of EU Financial Intelligence Units, and provide them with access to broad information for the carrying out of their tasks;
– limit the anonymity related to virtual currencies and wallet providers, but also for pre-paid cards;
– broaden the criteria for the assessment of high-risk third countries and improve the safeguards for financial transactions to and from such countries;
– set up central bank account registries or retrieval systems in all Member States;
– improve the cooperation and enhance of information between anti-money laundering supervisors between them and between them and prudential supervisors and the European Central Bank.
Here you can find the factsheet on the main changes of the 5th Anti-Money Laundering Directive
Scientists predict climate change will displace more than 180 million people by 2100 — a crisis of “climate migration” the world isn’t ready for, says disaster recovery lawyer and Louisiana native Colette Pichon Battle. In this passionate, lyrical talk, she urges us to radically restructure the economic and social systems that are driving climate migration — and caused it in the first place — and shares how we can cultivate collective resilience, better prepare before disaster strikes and advance human rights for all.
What human trafficking is…and isn’t?
Human trafficking is the business of stealing freedom for profit. In some cases, traffickers trick, defraud or physically force victims into providing commercial sex. In others, victims are lied to, assaulted, threatened or manipulated into working under inhumane, illegal or otherwise unacceptable conditions. It is a multi-billion dollar criminal industry that denies freedom to 24.9 million people around the world.
Globally, there are two general categories of human trafficking: sex trafficking and labor trafficking. Sex trafficking is the crime of using force, fraud or coercion to induce another individual to perform commercial sex. Common types include escort services, pornography, illicit massage businesses, brothels, outdoor solicitation. Labor trafficking is the crime of using force, fraud or coercion to induce another individual to work or provide service. Common types include agriculture, domestic work, restaurants, cleaning services, and carnivals.
Polaris project it is an American nonprofit organization that stands on global fight to eradicate modern slavery, focused mainly on US cases.
Telling Their Stories – behind the lens with Muhammed Muheisen
Muhammed Muheisen is a two-time Pulitzer Prize-winning photojournalist. He has been documenting the refugee crisis around the world for over a decade and is the founder of Everyday Refugees Foundation.
As the former Associated Press Chief Photographer for the Middle East, Pakistan and Afghanistan he covered conflicts across the region as well documented major events in Europe, Asia, Africa and the U.S. He spent four years in Pakistan as AP’s Chief Photographer for the region, and for the last several years has been documenting the refugee crisis across Europe. Most recently his work has focused on the issue of stranded unaccompanied refugee minors for the National Geographic Magazine.