Shocking: 11-Year-Old Boy Learns Hacking Tips From YouTube, Demands Rs 10 Crore Ransom From Father India Today
‘Very uncomfortable position’: ATO won’t rule out criminal charges in PwC legal stoush
ATO tax crime prosecutions: From the small fry to the big fish
The Australian Taxation Office (ATO) investigates a range of different fraud and tax crimes, which are categorised based on the seriousness of the…
Auditor general to probe jobkeeper after it was used to pay dividends and executive bonuses
Exclusive: The move follows a request from Labor’s Andrew Leigh who says the Morrison government has been extremely secretive
Rex Patrick assaults Geoff Raby in parliament over Yancoal ...
Rex Patrick assaults Geoff Raby in parliament over Yancoal taxes ... Wednesday on former ambassador to China, Geoff Raby, over firm tax avoidance. ... of being concerned with one in all “Australia's greatest company tax dodges”. ... Senator Patrick, who made the allegations below parliamentary privilegeThe first rule of being in a spy family: don't share what you see, not even with each other.
From the outside, Dudley and Joan Doherty — plus their three children — appeared like any normal family of the 50s and 60s.
But behind closed doors, the pair worked for ASIO. They had been early recruits in the Australian spy agency; an integral part of organisation's first bugging operation, Operation Smile.
Sex differences in immune responses
WSJ with more on the GameStop saga
French vaccine fails. And who is accelerating and decelerating vaccine rollouts?
What happened in Manaus? Research paper here
EXCLUSIVE: Newly obtained documents reveal disturbing details of Chinese influence on campus.
Digital gold: What is Bitcoin and why is it going mainstream?
ATO Cryptocurrency Program 2019 and beyond
Paul Drum, CPA Australia; Will Day, Deputy Commissioner, Private Groups and High Wealth Individuals, ATO; and Ben Brown, Director, ATO Cryptocurrency Program, Private Groups and High Wealth Individuals, ATO
The ATO advised that there has been a lot of activity in this area with the ATO seeking to normalise the treatment of cryptocurrency. The ATO program has been around for 12 months with the noticeable work undertaken in providing two major updates of advice and guidance and social media campaigns. The previous negative media sentiment around cryptocurrency has now moved to a more neutral position which is also supported by the ATO Community channel and commentary on social media platforms. Accountants have helped with taking up the ATO messaging regarding cryptocurrency, in particular, the advertising of crypto-accountants in industry to help taxpayers meet their obligations. This is also supported by a large number of third party software solutions to help manage cryptocurrency portfolios that also are linking to our web guidance. There were initially a number of private ruling requests, which have noticeably reduced. Moving forward, the program is continuing to focus on web guidance with releases of significant guidance to be scheduled in April and October 2019 if required.
The Anti-Money Laundering Fraud
Anti-money laundering laws are hugely expensive and largely ineffective at their stated purpose.
Necessarily applying a broad brush, the current anti-money laundering policy prescription helps authorities intercept about $3 billion of an estimated $3 trillion in criminal funds generated annually (0.1 percent success rate), and costs banks and other businesses more than $300 billion in compliance costs, more than a hundred times the amounts recovered from criminals.
… If authorities recover around $3 billion per annum from criminals, whilst imposing compliance costs of $300 billion and penalizing businesses another $8 billion a year, it is reasonable to ask if the real target of anti-money laundering laws is legitimate enterprises rather than criminal enterprises.
That’s Ronald Pol from a new paper, Anti-money laundering: The world’s least effective policy experiment? Together, we can fix it.
I would add two elements. The anti-money laundering laws are also injurious to innovation in areas like cryptocurrency where privacy is a goal and there is no bank to fine or from which to demand paperwork. These laws are also a injurious to liberty as they essentially require banks to spy on their customers and report to the government and they are inconsistent with constitutional principles. The key AML laws really only date from the 1990s and should be scrapped rather than “fixed “(which I think is Pol being sly as he never suggests any real solutions.)