With 2016 drawing to a close, we review the main developments in financial crime over the last year.
Beneficial ownership was arguably the most talked-about issue in financial crime in 2016. This was partly because of the release of the Panama Papers in April 2016. The revelations have led to high-profile resignations of government officials implicated in the Panama Papers, numerous criminal investigations into the allegations, and ongoing media coverage of the story.
Beneficial ownership is now firmly on the agenda of governmental and intergovernmental bodies trying to tackle financial crime. At the London Anti-Corruption Summit in May, it was announced that 40 jurisdictions have committed to automatically sharing beneficial ownership information with each other. This means law enforcement agencies in these countries will be able to see who really owns and controls every company incorporated in these jurisdictions.
Intergovernmental bodies like the G20 and the OECD have called on countries to do more to share beneficial ownership information. In October, the Financial Action Task Force (FATF) published proposals on how to improve the implementation of international standards on transparency, including the availability of beneficial ownership information.
A key trend in legislation in 2016 has been to encourage companies to report themselves to the regulators when they come across evidence of suspected financial crime within the company, or by a third party. In July, the UK's Serious Fraud Office (SFO) agreed only its second ever Deferred Prosecution Agreement, with an anonymous company accused of bribery. The company quickly reported the evidence it had uncovered to the SFO, assisted the investigation and reviewed its compliance programme. In return, it avoided a criminal conviction and received a penalty that is lower than the typical level of fine determined for bribery offences. France adopted new legislation which allows companies to enter into negotiated settlements in November, and the Australian government is considering doing the same.
In April, regulators in the US began a one-year pilot programme to encourage companies to voluntarily self-disclose suspected breaches of the Foreign and Corrupt Practices Act (FCPA). Companies that voluntarily and promptly disclose the evidence of the suspected offence and fully cooperate with the government's investigation can receive up to a 50 percent reduction off the typical level of fine.
There have been significant changes in sanctions policies in 2016. The US has continued to reduce its sanctions against Cuba, North Korea, and Myanmar, and the EU has renewed sanctions against Russia. These changes and more were documented in a LexisNexis Business Insight Solutions e-book released in November.
Events in 2016 might lead to further changes in sanctions regimes in the longer term. The UK voted to leave the EU in June 2016, which would mean the UK no longer automatically signs up to the EU's sanctions policies. Since Donald Trump was elected as the next US President, his early statements suggest he will adopt a different sanctions policy to his predecessor.
2016 has brought further evidence that when a company or a country makes a serious attempt to combat bribery and corruption, it can actually improve its bottom line. A recent report by ethiXbase found that Singapore has gained a "significant competitive advantage" over its neighbours in the Asia-Pacific because of its robust anti-corruption laws and its tough stance on corruption in the private and public sector.
The International Standards Organisation published a new standard called the ISO 37001 in October, which companies can use to certify their anti-bribery and corruption compliance procedures. Experts predict that this standard will help companies to gain new contracts by demonstrating that they are honest and accountable.
A report by the World Bank in April identified technology as a central part of a strong compliance strategy, noting that good data collection by companies can help them to identify patterns which reveal where there are inefficiencies or corrupt practices.
The UK Financial Conduct Authority's business plan for 2016/17 encouraged "the use of technology to reduce compliance costs". Technology allows companies to quickly screen third parties against databases of up-to-date information on negative news, legislation, and watch lists of sanctions and politically exposed persons.
This year, there has been greater scrutiny on companies around their ethical sourcing practices. October 2016 marked a year since the Modern Slavery Act came into force in the UK. A report by the Business and Human Rights Resource Centre studied 27 company statements by FTSE 100 companies to find that only 56% explicitly complied with the minimum requirements of the Act. A report by LexisNexis Business Insight Solutions in September showed that there is a "strong risk" of forced labour taking place in the construction industry and its supply chains.
Developments in all areas of the bribery and corruption landscape in 2016 show the continued importance of managing risk and strengthening compliance to meet a company's regulatory, financial, strategic and reputational objectives. For more information on how LexisNexis Business Insight Solutions can help your company negotiate these ever-changing risks visit http://bis.lexisnexis.co.uk/solutions/risk.
Justin Sun, Tron’s founder, announced on Twitter that there is a new feature on the BitTorrent Android application. On September 13, BitTorrent Inc. released an important feature of its Android application.
According to the official release, it is possible to add, remove, start, and stop downloads at any moment anywhere you are.
BitTorrent has been acquired by Tron earlier this year with the intention to expand its network and the blockchain community as a whole.
Now you can do everything on the go! Add, remove, start, and stop downloads directly from the BitTorrent #Android app. Watch this video to see how you can pair your phone and desktop! https://t.co/taa0WhvcqN
The Android app can be downloaded here. The application for iOS is currently being developed and could be released to the market in the coming weeks or months.
BitTorrent informed that it would operate from Tron’s offices in San Francisco and support the blockchain project and its global development. Additionally, the company would keep serving over 100 million users around the world.
Tron is currently one of the most important cryptocurrencies in the market. According to CoinMarketCap, Tron (TRX) is the 13th most important virtual currency by market capitalization with a $1.29 billion dollars valuation. Each TRX token can be purchased for $0.0196 dollars.
Well if that one dude really is the first recipient, I guess I can pat myself on the back, another KNC prediction made 6 months out and I was dead on the money. June delivery, as predicted.
Elenelen, all you do is upload a photo to an image host (like postimage), and then you link to its URL in your reply using the IMG tags. It's not that hard, and you don't have to edit the size, postimage takes care of it.
Not on this board! Have you actually tried it? You have to upload it to an image-host site, edit it, link it...
It's definitely sketchy, and perhaps in some countries illegal since they are formally asking their customers to run a Power supply significantly out of spec to the point where it is a fire hazard. Perhaps they ran through things with legal and have confirmation that they will not be liable if there are issues, but it puts customers in a tough position.
Yeah the legal department. Well they did put some BS in the update saying to use high quality psu. Wiring. And connectors. Wtf they could just made some custom 16 awg molex cables.
It does: about 3.3 Th and 1950W at the wall (the internal ASIC-monitor gives about 1440W...I have no idea where the difference is going to).
There is one new thing on the controller-board: on plug-6 there is a small display-board which gives info about the IP-address and Hash-speed (very nice)... but this means as well that 5 boxes is the maximum.
The one PCE-power plug isn't running hot {the fan is indeed pressing air through the hole}, but the cables are 44 degrees Celsius.
Oh yes? please explain me how I should do that here on bitcointalk-forum.... as I see no button to upload a gif-file.... I think I'm still a newbie
I will try (much) later today.... I first connect my other PSU and two boxes (I'm currently running 3 boxes).
Are the cables the ones that shipped with the PSU? Sorry to ask so many questions, worried about the cable temperatures
44C for the cables is quite warm, but most good quality PSU have 18AWG cables rated at at least 80C. Some Corsairs are rated at 90C, not that I expect the PSU to work properly at these temperatures.
Simple question Elenelen, where in the world are you Carmen Sandiego that you got your Neptune so quick?
Yes original quality cables: but as I mentioned before: they should have implemented 2 sets of PCE-6 pins (I already ordered extra and will try to solder them on top of the present one..... I have seen too many molten cables and plugs before.... ).
in CGminer I get a lot of "Failed to setwork" errors.... I think that should be solved in the next HW update (although it doesn't seem to have any effect on the Hash rate).
Wow, you are the first guy to get it, the community has been waiting for ever to see and learn about this thing and you can't be bothered to take a couple minutes to share some pics. You fail lazy newb.
Just be patient, in the next couple of days there will be a lot of info and pictures when people start receiving their units.
Btw I am still curious as to why some people decided to keep their Neptunes and not requested a refund?
Even with the free Neptune one will still mine less coins than getting the refund and buying the coins directly. Also no power/cooling bills to pay, no heat, no space required.
{Also: I will not mine BTC for long but move to other more profitable coin as soon as Difficulty-figures crosses. Don't ask me which one: I will not tell}
I'm offering 1000 system shares of BitcoinBourse.eu for sale. Original offering. Passthrough at Cryptostocks.
The shares cannot be transferred yet because the IPO did not end yet (this is the reason I'm selling them this way). I will transfer them to you when it becomes possible. Will start forwarding you all dividends immediately after this auction.
BitcoinBourse login if you have any, otherwise you will need it later when transfers will be possible. Transfer to Cryptostocks is not possible, unfortunately.
First of all I'm really sorry for your loss. The shares aren't even 0.03 BTC worth (you can see here why). With some insight into the dividends it looks even worse.
This coin is actually shit, the KGW is completely fucked up + the pools aren't up + THE SOURCE DONT COMPILE + the there is no hype. Fuck this im out.
This coin is actually shit, the KGW is completely fucked up + the pools aren't up + the there is no hype. Fuck this im out.
2 . Powerful, scalable servers located in Germany. Not to be unfounded, the actual peak power tested on one of the new pools (http://nyc.coinsprofit.com/) was more 07.03.2014 1.2 GH/s with 1193 workers.
3 . DDOS protect! Attacks were envious, but were easily eliminated, so that the miners did not notice.
5 . Direct and immediate link with the founders of the new Appcoin. Any questions or temporary network failures new coin promptly resolved without loss to miners. Last working version of the software and settings from the founder’s app coins.
OK; big diff, more hard to mine, better price. Works for me. At least, dumpers won't be appearing in high numbers.
Hey I got $10 Amazon need .001 Btc one time transaction let’s make this simple and smooth as possible I’ll go first i don’t expect anybody to trust a newbie plus I made the account just for this transaction. So if your interested just reply to post and ill reply back saying check your private message for the code after u redeem please return to post for my Btc address Thank you
Edit: looking like this deal will take lil longer than I thought so If You don’t see me online no worries I got notifications setup and I’ll be sure to lock topic once I no longer need the .001 Btc no more
Thanks for confirming that lol.... This forum rocks lots of informative threads on Btc and other digital currency. See a bunch of PayPal exchanges offer not much on amazon.
Thanks for the heads up And im definitely not doing any trades with a bad rep member because I am the only one taking the risk on this transaction I’m going first but I’ll take as a lost Tho if somehow I get scam over 10 dollars
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