Discover and read the best of Twitter Threads about #aml

Most recents (13)

OK - Lev Parnas is up for revocation of bail @SDNYLIVE before Judge Oetken. Previous Inner City Press story: innercitypress.com/sdny6correiafr… AUSA says he poses an extreme risk of flight - thread
@sdnylive @MatthewLeeICP @FUNCA_info @FinanceWatchOrg @yashar @kylegriffin1 AUSA: Parnas has a foreign benefactor, a Ukrainian oligarch -
Judge Oetken: Is that Mr Furtash?
AUSA: Yes. Parnas has no compunction about lying to the government about the true sources of his funds. GPS monitoring cannot mitigate the risk.
@sdnylive @MatthewLeeICP @FUNCA_info @FinanceWatchOrg @yashar @kylegriffin1 AUSA: He could cut off his bracelet. Pre-Trial if they got notice would go to his house, not to the airport.
[Inner City Press: why not?]
AUSA: We've seen a pattern of misleading. I know your Honor has spoken with officer Samson.
Read 36 tweets
#HematologyTweetstory 9: the “Philadelphia” chromosome! Whole books have been written about this saga; we’ll focus on some of the most interesting highlights. A shout-out to @LuskinMarlise – former @PennMedicine fellow & now @DanaFarber colleague - for suggesting this topic. /1
The key discovery in a "nutshell" (karyo=nut in Greek): in 1959, David Hungerford (1927-1993) and Peter Carey Nowell (1928-2016) @Penn found a peculiar-looking tiny chromosome in cells from 7 patients w/ a disease then called “chronic granulocytic leukemia", now known as #CML./2
Nowell, a Philadelphia native, had graduated from @Penn in 1952 and then returned to join the faculty in 1956 after doing radiobiology research while in the US Navy. He started working on leukemia, not really sure where his research was going, then had a happy accident./3
Read 25 tweets
#Brexit IS about escaping tax + financial #transparency. Conservatives and their donors are terrified of wealth being exposed. UK govt HAVE NOT transposed EU's 5th anti-money laundering directive by the deadline. See here... researchbriefings.parliament.uk/ResearchBriefi…
The EU's 5th #AML Directive requires 'public registers of beneficial owners' of companies. Tory leaders since 2015 desperately tried to exempt UK trusts, crown dependencies + tax havens from this law. Will expose vested interests + tax evaders. Hence #brexit haste.
In fact they don't intend to implement the public registers of company ownership in UK crown dependencies fully, EVER.
It would be the end of them.

Other EU countries don't have such lax donor and registration rules so don't appreciate the shockwaves caused by 5th AML in UK.
Read 8 tweets
The theory of #cryptocurrency, say @libra_ says that because there's #blockchain and no one needs to go through a bank to hold #crypto, there shall be #FinancialInclusion but in reality, inequality in #bitcoin is as bad as in fiat, if not worse...

ccn.com/bitcoin-is-pla…
@Libra_ There are three primary sources of economic inequality in #bitcoin

1. #Bitcoin is obtained via substantial fiat investment in compute
2. #Bitcoin CX is not grandma friendly
3. Value of #bitcoin is determined by fiat exchanges rather than by underlying decentralised commerce
@Libra_ Then there are some secondary sources

1. #bitcoin can't address causes of poverty and financial exclusion that (a) Amartya Sen and Jean Dreze (b) Abhijit Bannerjee et al. have addressed in their Nobel winning research.
2. #Bitcoin does not change social or political incentives
Read 14 tweets
Tweetorial #5: the interesting origin of the CBL gene. This story will take us to Spanish California and the world of murine retroviruses… and C.P. “Dusty” #Rhoads of refractory anemia fame will even make a brief cameo appearance. This image is a ribbon diagram of CBL. #CBL /1
In the winter of 1812, a series of San Andreas earthquakes struck southern California, destroying the original church at San Juan Capistrano and damaging several other 'Las Californias' missions. There were also tsunamis, which would have made coastal living less appealing./2
After the earthquakes, a number of people living near the 9th Franciscan mission, "San Buenaventura", in present-day Ventura, California, withdrew from the immediate coast & temporarily moved inland to higher ground in another part of what is now Ventura County #VenturaCounty./3
Read 21 tweets
Since my recent "tweetorial" about the history of ring sideroblasts & Prussian blue seems to have been well received, I thought I’d follow up with the fascinating and sordid history of the term, “Refractory Anemia” (RA). (This ugly #MDS image is from a book I edited years ago.)/1
The 1982 #FAB #MDS classification included chronic myelomonocytic leukemia (CMML), plus 4 categories with the term RA: 1) RA, 2) RARS (i.e., RA w/ ring sideroblasts), 3) RAEB (RA with excess blasts), and 4) RAEB-t (RAEB in transformation to #AML). But where did "RA" come from?/2
Iron salts had been used since the 17th century to treat “chlorosis” – i.e., the green sickness, characterized by weakness and pallor. Thomas Sydenham (1624–1689) is usually given credit for first rational use. Here's a classic painting of a young woman fainting from chlorosis./3
Read 25 tweets
#SimonGautier, français en vacances en #Italie, appelle le 112. « Je suis tombé d'une falaise, j'ai les 2 jambes cassées, aidez-moi... je ne sais pas où je suis.» 5 jours plus tard, il reste introuvable.

Une telle histoire ne devrait pas arriver. (1/11)

tinyurl.com/y5urksoj
Info en 🇫🇷: tinyurl.com/y69c2dey

Récemment, on a vu dans la presse plusieurs cas similaires où la localisation de personnes en détresse se révélait problématique... en #Roumanie, en #Espagne ou en #France par exemple.

Néanmoins, ce n’est pas un problème nouveau. (2/11)
En 2009, les services de secours avaient déjà été incapables de retrouver un randonneur perdu dans les Alpes bien qu’il soit resté au téléphone avec eux de longues minutes. tinyurl.com/y25smkeu

Des drames tels que ceux-ci vont continuer à arriver, à moins que les... (3/11)
Read 11 tweets
1/ The Senate Banking Comm staff reached out last week regarding @Facebook @Libra pursuant to my @ForbesCrypto article. During a conf call they indicated interest in receiving formal testimony from me. Here it is + summary follows 👇: forbes.com/sites/caitlinl… @DoWithCare
2/ Big takeaway--politicians that weaponize the US banking system (blocking access to disfavored industries/countries) are modern-day Herbert Hoovers bc these barriers block both unlawful & LAWFUL commerce, & these barriers caused the invention of #stablecoins in the first place.
3/ (OK, I didn't actually call them modern-day Herbert Hoovers the testimony, but I digress...) If Congress isn't happy about @facebook @Libra, it can immediately make #stablecoins irrelevant by letting #banks bank the #crypto industry (& I give v specific recommendations here:
Read 19 tweets
The Financial Stability Board (FSB) published a #Crypto-assets #regulators directory.
5 April 2019
The purpose: provide info on the relevant regulators&authorities in FSB #jurisdictions & international bodies dealing with crypto-asset issues, and the aspects they cover.
👉 fsb.org/2019/04/fsb-pu…

👉 Crypto-assets do not pose a material risk to global financial stability for now.
👉Vigilant monitoring is needed in light of the speed of market developments.
👉Broader policy issues:
1.#Consumer & #investor protection
2.Strong #market integrity #protocols
3. #AML & financing of terrorism (AML/CFT): #regulation, #supervision, implementation of international sanctions
4.#Tax evasion
5.Illegal #securities offerings #ICO
Read 6 tweets
Stung by Big Fines, Big Banks Beef Up Money-Laundering Controls
By Yalman Onaran (Bloomberg)

The tech-race:
☝️New tech allow regulators better AML detection but then forces banks to use even better tech to detect before the regulators

Thread👇
bloomberg.com/amp/news/artic…
Measures by HSBC
HR👉 HSBC quintupled the number of AML employees to 5,000 (2012-2016)
Tech👉upgraded its #Fintech #technology (#MachineLearning scanning transaction data)
Lobby&learn👉in 2016, hired Jennifer Calvery, the U.S. Treas.Dpt’s top #AML official who fined HSBC in 2012.
👉9 big banks paid a total of $20 billion (2012-2015) for lax AML controls
👉 clients evade taxes or violate U.S. sanctions
👉most of the settlements came with deferred-prosecution agreements and outside monitors
Read 7 tweets
At 2PM today, the House Financial Services Committee will begin discussing legislation to end anonymous US companies, strengthen the Bank Secrecy Act #AML regime, and reward whistleblowers in transnational kleptocracy cases.

Read more/watch live here: financialservices.house.gov/calendar/event…
Tomorrow @HudsonInstitute, join @FranklinFoer @elisejosanbean and KI to discuss the US economy’s systemic vulnerability to dirty money from authoritarian regimes. Why it’s poisoning capitalism, and how upcoming legislation could help turn the tide! hudson.org/events/1664-am…
HFSC witness Dennis Lormel, a former FBI agent, highlights the ubiquity of anonymous shell companies in transnational kleptocracy cases.
Read 10 tweets
.@maltatoday seems to be finding some of its stories right off a @PL_Malta propagandist’s Facebook page.

Quite sad really to boast that, after its bludgeoning for lack of #AML enforcement, #Malta wasn’t incl in @EU_Commission’s latest round re: AMLD4 transposition 1/
The source “warnings notice” by @EU_Commission -> europa.eu/rapid/press-re… (scroll down)

It also ignores that #Malta also (besides reasoned opinions & warnings from EC & ECB etc on wider matters) got the same AMLD4 transposition warning in July 18 -> ec.europa.eu/commission/com… 2/
But hey if you’re desperate for “positive” news why let reality or journalistic honesty dampen your agenda, right? 3/
Read 4 tweets
OK, now I stop the jokes and get serious on #SOTEU and #JHA (opens thread). @JunckerEU: "We are proposing to extend the tasks of the newly established European Public Prosecutor’s Office to include the fight against #terrorist offences."
I'm still sceptic about the original role of the #EPPO (financial offences to #EU money) and how that is going to pan out in the future (more on this soon, part of the @CER_EU's upcoming work on #JHA). I'm even more sceptic about proposals to use it for #AML. But terrorism?
This has been an old aspiration of federalists and others: some sort of a central EU criminal prosecutor (and criminal code, for what matters) to deal with cross-border crime. But that is absolutely unfeasible right now. See the latest difficulties in judicial co-operation.
Read 5 tweets

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