Philippines to Crush Bulk-Cash Smuggling

The House of Representatives of the Philippines filed a bill in March 2020 aimed at curbing bulk-cash smuggling. The proposed Anti-Bulk Cash Smuggling Act of 2020, would impose reporting requirements and demand prior clearance for those transporting PHP500,000 or more in cash or using other monetary instruments. If passed, those caught violating the requirements couldContinue reading “Philippines to Crush Bulk-Cash Smuggling”

Underground bank and Money Laundering Typologies – Viets & Sino

The Perpetrator was Ruan Zhizhong who operated in China and Vietnam. In August 2009 Chinese law-enforcement raided an underground bank and money laundering gang that had sent an estimated USD1.46 billion abroad in illegal transfers. Chinese media reported that, “During a raid of the gang’s headquarters in Guangxi’s Fangchenggang City, Police seized 70 deposit books,Continue reading “Underground bank and Money Laundering Typologies – Viets & Sino”

Organized Crime boss control empire from prison

The perpetrator was Carson Yeung, Hong Kong hairdresser turned businessman who made his fortune trading in penny stocks/shares, eventually becoming the president of English football club Birmingham city football club in 2009. After years of high living the charges brought against him included money laundering totaling a value of USD92.8 million from entities including casinosContinue reading “Organized Crime boss control empire from prison”

The Village Banking – Zambian Style

There is strength in numbers but also there are also existential challenges which come with business undertakings in groups such as the Village Banking which may for now be taken as “fore-warnings and LESSONS Learnt” as we move to encourage, and champion such Business Ventures. Nalikwebele tabulapo. Kuti mwashala muli mwamoneni mwamoneni, ka Capital naContinue reading “The Village Banking – Zambian Style”

The Jet-Setting Monk from the Tiger Kingdom

The propensity and affinity for some people to gauge an opportunity to misappropriate, embezzle or divert funds to increase one’s wealth is too great and irresistible. While they may consider themselves “under the radar,” the example below demonstrate that in the end crime doesn’t pay. The Perpetrator is Wirapol Sokphol a.k.a “The Jet-Setting Monk fromContinue reading “The Jet-Setting Monk from the Tiger Kingdom”

Sudanese Banks take steps to end isolation

Banks in Sudanese have started moves to re-establish relations with foreign banks as the United States (US) prepares to remove Sudan from its state sponsor of terrorism (SSOT) list. Bankers and analysts say the process will likely be slow. Restoring international banking links could provide a vital boost to an economy still in crisis moreContinue reading “Sudanese Banks take steps to end isolation”

Nigeria – The African most populated giant Nation well-known for wrong reasons

There is a paper entitled “The Devastating impact of Money Laundering and other Economic and Financial Crimes on the Economy of Developing Countries: Nigeria as a Case Study” by Yusuf and Ibrahim from the International Islamic University Malaysia. The paper makes very interesting reading. You are encouraged to read, if you have a moment toContinue reading “Nigeria – The African most populated giant Nation well-known for wrong reasons”

Fraud – One of the Oldest Human Occupation

Apart from prostitution, fraud is also among the oldest human occupations. Ever since the Christian Biblical story of Jacob obtaining Isaac’s (his father’s) blessings by deceiving Isaac in connivance with his mother through a well orchestrated and executed fraudulent scheme of impersonating his brother Essau, the efforts and energies spent by some human beings toContinue reading “Fraud – One of the Oldest Human Occupation”

CheChe's Journal

The writerly musings of a mindful Mood Disorder survivor.