The Commission has today issued, in final draft form, the revised Handbook on Countering Financial Crime and Terrorist Financing. This follows publication of The Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) (Amendment) Ordinance, 2018 which, once approved by the States of Guernsey, will replace and update the provisions of the two sets of Criminal […]
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Regulation’s role in encouraging a positive culture
Regulation’s role in promoting good culture is not to make rules around it, that was the main thrust of Andrew Bailey’s speech at the Investment Association Culture Conference. https://www.fca.org.uk/news/speeches/role-regulation-encouraging-good-culture Andrew Bailey suggests Prescriptive rules can often undermine the original intentions as it’s impossible for a rule-book to predict every situation or eventuality. As a […]
Read MoreJohn Harris returns as the Office of the Information Commissioner announces Jersey NED appointments
After stepping down from the JFSC for hedalth and burn out related reasons, John Harris returns to the Jersey regulatory world. It was announced on the 12 October 2018 that the Chief Minister, Senator John Le Fondré, has signed a Ministerial Decision to appoint four Non-Executive Directors to the board governing the Office of the […]
Read MoreECB shuts Malta’s Pilatus Bank after money laundering allegations
ECB shuts Pilatus Bank as EU readies new move on Malta BRUSSELS, Nov 5 (Reuters) – The European Central Bank has withdrawn the banking licence of Malta’sPilatus Bank, the island’s financial regulator said on Monday, as the European Commission acted to step up a disciplinary procedure against Maltese authorities. The ECB decision came after the […]
Read MoreBrexit deal likely to slip to December, says EU commissioner
Ireland’s EU Commissioner has said a summit to finalise a Brexit deal is now unlikely to be held until December, pointing to further slipping in the negotiating timetable. Phil Hogan said if he was “a betting person” he would wager that there would be no deal this month. But his comments come amid reports in […]
Read MoreThis is how artificial intelligence will become weaponized in future cyberattacks
Artificial intelligence has the potential to bring a select set of advanced techniques to the table when it comes to cyber offense, researchers say. On Thursday, researchers from Darktrace (.PDF) said that the current threat landscape is full of everything from script kiddies and opportunistic attacks to advanced, state-sponsored assaults, and in the latter sense, attacks continue to […]
Read MoreUniversity shuts down network to thwart Bitcoin cryptojacking scheme
The network and the university’s power were used covertly to mine for cryptocurrency. A Canadian university was forced to close down its entire network due to the discovery that the system was being abused in order to mine for cryptocurrency. Nova Scotia’s St. Francis Xavier University uncovered the cryptojacking scheme on Thursday. IT staff at […]
Read MoreTrump sanctions prompt exit of Russian-owned businesses
SANCTIONS imposed by the Trump administration have caused two Jersey-based businesses owned by one of Russia’s richest men to press ahead with plans to leave the Island. According to announcements from both the Hong Kong and London Stock Exchanges, Rusal – the world’s second-largest aluminium producer – and EN+ Group – a supplier of natural […]
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