This new customised scam gives the old fashioned con artist the full leverage of the electronic funds transfer era.

A new wave of money transfer fraud techniques is on its way to New Zealand. It is the President scam, so called because it is centred on the departure from secure procedures triggered by a very senior official in the targeted organisation intervening and giving the appearance of wanting the fraudulent transfer to take place.

Under the President modus operandi someone poses as the boss of an organisation. They then conjure up an exception of some kind and which requires an instant transfer of money. The controlling officer, the one at the receiving end of the email or telephone call, then instructs the operations person concerned to implement the transfer. Or transfers it personally.

Inherent in this confidence trick is the artificial flap and the urgency it generates, an urgency designed to wash away any remaining security steps, especially any suspicion about the entity on the other end of the money transfer.

The theme of the President scam is that it differs from other transfer frauds in that it is designed to be implemented and completed in minutes rather than hours.

However the preparatory spade-work by the perpetrator will take much longer and involves a close study of the voice and verbal pattern of the senior official, the President, who is being mimicked. It will also require an evaluation of the vulnerability of the authorisation chain and especially of the individual who will press the button on the transfer.

These weak links may include for example a command chain noted for an informal i.e careless approach to established procedures.

Also an organisation in which the boss, the President, is known for making procedural short cuts. A boss who is feared in this context represents a weak link because line staff will want to avoid incurring their ire and so be more willing to take the procedural short cut.

There are of course a number of variants on the President scam.

These include the scam artists impersonating suppliers who claim that if a certain payment is not immediately made, that they will cause, for example, a production line to close down.

A particularly nasty twist is when a known adviser, perhaps the head of an organisation’s firm of accountants appears to be ringing in, urgently advocating the settlement of this or that account before the sky falls in.

In Europe where the President scam was developed and refined there can often be a conspiratorial aspect to the impersonation in which the scam artist seeks to impersonate elements of the forces of law enforcement, and seeks the covert assistance of someone connected with money transfers on the grounds of patriotism.

The money transferred under the President scam moves quickly through the hot money arteries, bouncing around countries with low banking surveillance, before being laundered, and often factored through commodities and other merchandise.

The history of the preceding waves of electronic scamming indicates that the International fraud artists turn their attention to New Zealand when they have picked the eyes out of the low hanging fruit in the northern hemisphere.

This time, as we shall see, is about now. Neither can we claim that the President technique has not already been applied to New Zealand. It may have been intercepted. Or the victim organisation has shut up about it.

Anyone involved in money transfer knows that by its very existence any chain of authorisation is vulnerable just because humans are involved.

So we have to hold onto something solid. In this case documentary credit instruments represent the best banking landmark. This means, in this context, sight documents.

Why? Because seeing is believing. Any departure, any exception, from authorised procedure must be verified by “sighting” the individual, the President, the CEO, or the CFO who is demanding the implementation of the exception to standard practice i.e. the money transfer.

The reason that sight procedures (never in this connection ever to be confused with citing or even “site” procedures)apply now is just because unlike previous waves of point to multi point stacked scams, the President formula relies on a high degree of customisation.

This means for example that an email used in the scam will be customised around the known habits of the President and also around the known personality of the target, the officer of the organisation authorised to make the transfer.

This email may, for example, have a holiday home telephone number. “Ring me for verification.” The person at the other end of the line will be the impersonator, perhaps with a nasty cold in order to cover up any discrepancy in tonality.

It is this customisation that makes the President scam so dangerous to New Zealand organisations.

Organisations should now evaluate the wisdom of displaying and generally publicising the names of their treasury people, especially on their web sites. They are the point of departure for practitioners of the President scam.

As practitioners turn their attention to southern latitudes we find that only in the simplicity of direct sight, the face-to-face encounter, is there an antidote to this curious yet so far extremely successful blend of the old fashioned confidence trickster merged now with the speed of light of a numerical transfer.

How vulnerable are New Zealand medium to large organisations to this new threat?

Until now the publicised victims of electronic scams of all stripes have been individuals, householders.

The first wave was the Nigerian one in the fax era. Then followed a medley centred on phishing or bank impersonation. Dismayingly the banks insist on using emails to send out their promotional material which means that they cannot collectively state that any email from a trading bank is by definition a false one.

It is in this year’s wave, the telephone calls from Microsoft accredited agent impersonators that we find the direction of this new scam.

As this particular Microsoft scam developed it was observed that recipient caller display bars began to show New Zealand telephone numbers.

Though replies indicated that the caller display numbers elicited no response.

Another pointer is the arrival in the Auckland area especially of criminal gangs working over ATMs.

We are entering the era in which organisations will have to start becoming reticent about their financial authorisation chains in terms of who staffs them.

Similarly with IT structures in which any unanticipated request for tests should be flatly ignored.

At least, until the sight verification.

| From the MSCNewsWire reporters' desk - European Correspondent  ||  Tuesday 22 August 2017   |||

Brexit and Ireland Britain's troubled relationship with the island next door is a problem again.

Theresa May's government has urged the European Union to allow British businesses to continue to enjoy the benefits of the free trade of goods into Europe after Britain has left the EU. Brexit secretary David Davis said:"These papers will help give businesses and consumers certainty and confidence in the UK's status as an economic powerhouse after we have left the European Union".

The Government is to publish more details of its negotiation plans for Brexit later this week. "We've published recently just in the last few days a number of papers that set out our thinking on some of those key issues for the future relationship".

Slovenia's prime minister Miro Cerar told the Guardian newspaper in an interview that not enough progress had been made to move onto discussing a trade deal, in a blow to the government, who want to begin trade talks alongside negotiations over the UK's withdrawal.

"There are so many hard topics on the table, hard issues there, that one can not expect all those issues will be solved according to the schedule made in the first place".

The European Council will decide in October if "sufficient progress" has been made in discussions so far.

"That is our aim and we are confident that we are working at a pace to be able to get to that point".

Britain is pressing Brussels to begin early talks on a long-term trade deal as part of the negotiations over the terms of Brexit.

But sources said it was up for negotiation whether ECJ rulings will apply in the two or three year transition period after 2019.

A New Zealand/UK dual national with more than 25 years' experience, Falconer will lead trade policy and the development of negotiation capability and will serve as an ambassador for Dr Fox's Department for International Trade. "So, never mind Theresa May's foolish red line; we will have the ECJ in all but name".

The proposal, unveiled in The Times today, could allow Theresa May to square the circle of getting Britain out from under the control of the ECJ while protecting free trade in the EU's single market.

The Liberal Democrat Brexit spokesman Tom Brake MP said: "David Davis promised us "the row of the summer" over the Brexit timetable, only to capitulate weeks later to the EU's preferred timetable after a disastrous general election for his party which vastly undermined their negotiating position".

| A Hightech Beacon release  ||  August 21,  2017   |||

 Latin America’s oldest English-language daily, the Buenos Aires Herald, announced its closure this week, ending an impressive 140-year run.

“There’s not much to say right now to be honest. We have been told the last edition was this Friday’s. No more to add at this point,” said News editor James Grainger on Twitter.

The paper cited modifications to government-paid advertising, distribution, and the recession in Argentina as reasons for its shutdown.

“For the journalists and the fighters for Argentine human rights, the Buenos Aires Herald was a myth. So its final closure was a hard blow,” said Carlos Cué, El País correspondent in Buenos Aires.

| From MSCNewsWire reporters desk  ||  August 16,  2017   |||

New Zealand will host APEC in 2021, with Leaders’ Week to be held in Auckland from November 8 to 14, Foreign Minister Gerry Brownlee says.

“With Auckland also set to host the America’s Cup, 2021 will be a big year for the country’s biggest city,” Mr Brownlee says.

“We are announcing the dates as early as possible to provide some clarity for planning, which is already under way.

“APEC 2021 will be the largest event ever hosted by the New Zealand government and is a wonderful opportunity for New Zealand to shine on the international stage.

“APEC will bring world leaders to New Zealand and create significant opportunities to promote our economic interests with trading nations including China, the US and Japan.

“The Asia-Pacific is the fastest growing economic region in the world and APEC is its leading economic forum.

“APEC member economies account for almost half of all global trade, and more than 70 per cent of New Zealand’s goods and services are exported to APEC economies.

“It is expected that APEC will attract up to 22,000 international attendees to the 12 significant APEC-related events held throughout the year, with around 10,000 attendees expected for Leaders’ Week.

“While Auckland is confirmed to host the Leaders’ Week, we intend to spread meetings and events across other large cities, including Christchurch, to showcase the very best of New Zealand’s capability, innovation, culture and amazing landscapes,” Mr Brownlee says

| A Beehive release  ||  August 15,  2017   |||

A total of 92 percent of New Zealanders do not want their nation to follow President Donald Trump’s lead and withdraw from the Paris Climate Change Agreement set in 2015.

Moreover, six in ten Kiwi’s believe we should work harder with other countries to achieve the goals of the accord after the US withdrawal in June.

This is the outcome of a Climate Change survey released today by Pure Advantage, a national organisation comprised of business leaders who believe the private sector has an important role to play in creating a greener, economically stronger New Zealand.

New Zealanders are even more united in their commitment to the Paris Accord than Australians at 87 percent support, Pure Advantage chief executive Simon Millar says.

“Our survey showed seven in ten Kiwis are comfortable with the carbon reduction targets that have been set by New Zealand as a signatory to the Paris Agreement, yet 20 percent think they could be even higher.

“Millennials are significantly more likely to support carbon reduction. This next generation of Kiwi consumers, business owners and decision-makers want to see New Zealand leading the world, and working even harder to accelerate our efforts towards a zero-carbon future.

“Two-thirds of people believe we should be a world leader in solving climate change and also support measurement of economic growth in New Zealand (GDP) to include the impact of growth on the environment.

Despite our clean and green global brand, New Zealand is trailing many countries in our carbon reduction efforts to sustain this reputation and our performance on the international stage is well below world leading. Since 2011 the United Kingdom has had lower emissions per person than New Zealand,” Millar says.

These findings relate directly to those recently announced by Parliamentary Commissioner for the Environment Dr Jan Wright who said that climate change is the environmental issue of our time and that New Zealand’s total emissions are climbing, while in many other countries they are falling.

The survey shows that large numbers of Kiwis are speaking out about climate change and wanting the country to do more about it, yet we are laggards on progress and the Government is yet to lay out a clear plan for how we will achieve the targets we have set, let alone increasing our ambitions. Steady as she goes is not the way forward, bold action is.

New Zealand is one of 196 countries to have signed the Paris Agreement and committed to voluntarily take steps to address climate change. The Accord set the goal of reducing greenhouse gas pollution to zero in the second half of the century. New Zealand has set a target of reducing greenhouse gas emissions by 30 percent below 2005 levels by 2030.

Pure Advantage is a not-for-profit that investigates and communicates opportunities for green growth. Its trustees include Sir Stephen Tindall, Katherine Corich, Phillip Mills and Rob Morrison.

| A Make Lemonade release  || August 3,  2107   |||

CHINA’S manufacturing activity eased slightly last month amid hot weather and flooding.

The official Purchasing Managers’ Index, which measures vitality in the sector, slowed to 51.4 in July from June’s 51.7, the National Bureau of Statistics said yesterday.

Though slower than the market’s expected 51.6, it remained in expansionary territory for a 12th consecutive month.

A reading above 50 indicates expansion, while a reading below reflects contraction.

Zhao Qinghe, the bureau’s senior statistician, said the July reading had remained between 51 and 52 over the past seven months. The slower expansion was partly due to hot weather nationwide and flooding in some areas, Zhao said.

External demand also weakened, with the sub-index for new export orders falling to 50.9 from 52 in June.

However, input and output prices both rose with companies’ increased purchasing, Zhao said.

Chen Zhongtao, an analyst with the China Logistics Information Center, called the July reading a seasonal fluctuation.

“It’s difficult to avoid volatility at such a relatively high level,” Chen said, noting that the PMI has hovered above 51 for 10 months in a row.

The structural upgrade of the manufacturing sector continued. High-tech and equipment manufacturing led the expansion in July, with their sub-indexes higher than the overall sector’s PMI.

In contrast, the sub-index for oil processing and coking, as well as the non-metal mineral products industry, stayed below 50 for the third month in a row, affected by overcapacity and restructuring.

“The shift between the old and new momentum of growth is accelerating,” Chen said.

The Australia and New Zealand Banking Group attributed the overall weakening to weather conditions, and said the slowdown was temporary.

“Hot weather and flooding in some parts of China temporarily disrupted business activity and dragged the overall index lower,” Betty Wang, ANZ’s senior China economist, said in a note. “The continuous ascent in prices suggests to us a longer industrial recovery. We may see a rebound in upcoming months.”

Despite the slower manufacturing expansion, firms continued to increase purchases with stronger confidence in their future growth, according to Zhao.

The sub-index for the quantity of purchases rose to 52.7 from 52.5 in June, while that for expectations on production and business operations climbed to 59.1 from 58.7, the third consecutive month of increase.

Yesterday’s figures also showed the non-manufacturing PMI moderated to 54.5 from 54.9.

Zhao said a contraction of activity in road transport, real estate and residential services overshadowed faster expansion in postal services, broadcasting and Internet sectors.

“The PMI drop in July was a normal fluctuation and did not show much about the cyclical trend of China’s economy,” CITIC Securities said in a note. “The positive economic outlook remained unchanged.”

For China’s macro-economic policy-makers, the pressure of supporting growth is gradually lessening, according to CITIC Securities.

It predicted no changes to China’s monetary policy stance, which has been set as prudent and neutral for 2017.

Yesterday’s data came after a slew of economic indicators that showed China’s economy steadily stabilizing and improving.

Official statistics put China’s GDP growth at 6.9 percent in the first two quarters of the year, up from 6.8 percent in the fourth quarter of 2016, beating market expectations.

| A ShanghaieDaily.com release  ||  July,  2017   |||

Air Liquide (Paris:AI) announces today that it has completed the sale of Air Liquide Welding, its subsidiary specialized in the manufacture of welding and cutting technologies, to Lincoln Electric France SAS, subsidiary of Lincoln Electric Holdings, Inc. (“Lincoln Electric”) (Nasdaq : LECO).

This sale follows the signed agreement announced on April 27th 2017, with Lincoln Electric, the world leader in design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment, and the related usual regulatory approvals, including competition authorities’ approval.

Air Liquide is focused on its Gas & Services activities following the acquisition of Airgas, as well as on the implementation of its company program NEOS for the 2016-2020 period.

About Air Liquide WeldingAir Liquide’s subsidiary, Air Liquide Welding is a key player in the manufacturing of welding and cutting technologies. Air Liquide Welding, which has approximately 2,000 employees across the world, has generated in 2016 a turnover around €350 million. It offers, through several internationally well known brands (SAF-FRO and OERLIKON in the industrial field, CEMONT for professionals…), a large range of related equipment, consumables and services on the market.

About Lincoln ElectricLincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 47 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. In 2016, Lincoln Electric generated USD 2.3 billion in revenue. For more information about Lincoln Electric and its products and services, visit the Company's website at www.lincolnelectric.com.

The world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with approximately 67,000 employees and serves more than 3 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Air Liquide’s ambition is to lead its industry, deliver long term performance and contribute to sustainability. The company’s customer-centric transformation strategy aims at profitable growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

Air Liquide’s revenue amounted to €18.1 billion in 2016 and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.

|  An Air Liquide release  ||  July 31,  2017   |||

 One of New Zealand’s longest-running pioneering business success stories, Gallagher Power Fence Systems Limited, has announced plans to expand operations in Kenya at Tatu City.

Gallagher will build 24 warehouses on four-acres at Tatu Industrial Park, the leading industrial area with Special Economic Zone status in East Africa. The warehouses will be used for storage of security products and for lease. Construction will commence in September 2017 and create approximately 100 jobs as part of the multimillion dollar investment.

Whilst visiting Tatu City, Sir William Gallagher, Chairperson and CEO of the company, said that the move was a strategic step in Gallagher’s growth and expansion plans in the region.

“Over the last 18 years, we have experienced immense support from various partners and customers in Kenya. We are proud to be playing a role in creating employment opportunities, and we aim to reach a wider clientele through the facilities that we will be setting up here at Tatu City,” he said.

Gallagher is also in the process of building an electric security fence on the boundary of Tatu City. The fence will will be equipped with CCTV cameras, floodlights and access control at entry and exit points, all monitored in a dedicated control room by Tatu City’s security team.

“We are delighted yet again to attract a global investor and service provider with strong local roots to the ever-growing list of Tatu City partners,” said Stephen Jennings, Founder and CEO of Rendeavour, the owner and developer of Tatu City. “Gallagher is a household name in dozens of countries around the world, and the company’s quality and standards are such that they have built a strong business in Kenya.”

About Gallagher Power Fence Systems Ltd (www.gallagher.com)Gallagher are a global leader in the innovation, manufacture and marketing of animal management, security, fuel systems and contract manufacturing solutions.For 75 years Gallagher has designed and delivered innovative solutions to a global customer base. GPF Kenya was established 18 years ago in Nairobi and established itself as a highly reputable supplier and installer of high quality cost effective security systems.

All installations are designed and installed to comply with National and International requirements. Gallagher inspects and certifies all installations as appropriate, ensuring that the systems comply with Gallagher’s stringent code of practice and quality standards.

About Tatu City (www.tatucity.com) Tatu City is a 5,000-acre, mixed-use development with homes, schools, offices, a shopping district, medical clinics, nature areas, a sport & entertainment complex and manufacturing area for more than 150,000 residents and tens of thousands of day visitors. Schools and businesses are already open at Tatu City, and a range of houses are under construction to suit all incomes. A Special Economic Zone, Tatu City is a unique live, work and play environment that is free from traffic congestion and long-distance commuting.

| A Gallagher release Nairobi, July 11, 2017    |||

Japanese architect Shigeru Ban, known for making cathedrals and concert halls out of paper, is designing 20,000 new homes for refugees in northwest Kenya. Ban, who won the Pritzker Architecture Prize in 2014, will be working with the UN Habitat to build homes in the Kalobeyei refugee settlement in Kenya’s Turkana region.

After the 2011 earthquake in Christchurch, Ban designed a temporary replacement for the church made out of cardboard. 

Ban, a minimalist who uses materials ranging from cardboard and paper to beer crates, is known for his work on emergency housing. He’s built DIY refugee shelters in Rwanda after the 1994 genocide and in Nepal after its 2015 earthquake2015. His paper log houses have been used in Japan, Turkey, and India. In Kenya, Ban says his goal is to design housing simple enough for residents to replicate and maintain by themselves—Kenya’s refugee population, at about 400,000, is expected to continue growing.

“The key thing will be to design and construct shelter where no or little technical supervision is required, and use materials that are locally available and eco-friendly. It’s important that the houses can be easily maintained by inhabitants,” Ban said after visiting the Kalobeyei settlement last week.

Continue to full article here

Commonwealth Mediaevalist sees recurring Antipodean pattern now supercharged by media-driven Compensation expectations

In the era of pervasive popular communications, asserts Commonwealth mediaevalist Gordon Strong, “it has been seen that the media and the public combine symbiotically in influencing outcomes in a court of law.

“Accusations are far more likely to remain in the public consciousness than subsequent retractions.”

Justice must be done, and seen to be done, noted Gordon Strong in evaluating the current hysteria outbreak in Australia

“The problem now arises when pressure is brought to bear on the judiciary from other, non-judicial, sectors,” he emphasised.

He stressed too that in assessing the current furore over Cardinal George Pell “it will be instructive to examine previous events of a similar stamp.”

He cited the Orkneys ‘Satanic Abuse’ case in which social workers insisted that children had been subjected to demonic practices and which was dismissed as ‘fatally flawed’ by the presiding judge.

Similarly, the Chamberlain Trial / Baby Azaria case of 1980 which “now seems remarkable for the fact that most of the prosecution evidence was later rejected.”

The pillorying in the Baby Azaria case of the defendants by the media, “the ludicrous innuendos, and the disingenuous attitude of the ‘environmental’ officers, resulted in an unedifying spectacle.”

The Chamberlain couple were not fully exonerated until over thirty years later.

“The issue here is not necessarily the guilt or innocence of the parties involved.

“It is the tendency of the media to weigh opinion towards one version of events.”

Child abuse he said is only one of the emotive issues embraced, “almost gratefully,” by the media.

“Such reportage grips the public imagination, and therefore opinion is easily manipulated. “

Cautioned Mr Strong: “It might be argued that in such cases the media encourages and supports victims who might not otherwise have had the courage to step forward with their own revelations.

“Is it possible some proportion of these claims might be spurious?

The immense sums known to have been paid out in compensation in such cases “must surely tempt unscrupulous individuals to take advantage of the situation?”

He added that the media accelerator now routinely draws in another multiplier represented by Hollywood “via rapturously received movies based on these very cases.”

Both the account of the exposure of ecclesiastics in Boston and the Chamberlain trial were dramatised.

In general, observed the mediaevalist, the Cardinal Pell affair seems “couched in mystery,” even without considering the complexity of the internal politics that are a “hallmark” of the Roman Catholic Church.

“It is so far unclear what allegations have been made against this senior official.

“The denial of any wrong-doing by him is simply interpreted in this fevered atmosphere as further proof of his guilt.”

Mr Strong recalled that Pope Francis describes the affair as ‘a mediatic judgment – a judgment of gossip’.

What is equally a cause for concern, noted Mr Strong, is that Australia’s Victoria State police officials publicly speak of ‘a whole range of historical sex offences.’

This he pointed out was a phrase which, stated in isolation, has an ominous ring.

“Undisclosed information held by government agencies always has sinister overtones, as if to imply ‘you are all guilty, if we say so’

Mr Strong said that he discerned an underlying sense of personal triumph being shown by “lesser mortals” in attempting to bring down Cardinal Pell.

He observed too that in the present era of media excitability the more celebrated and powerful the figure the more likely they are to be drawn into a maelstrom of rumour and infamy.

In contemporary times, said Mr Strong, it is evident that having an exalted status in society may in fact be a liability, a lethal burden instead of a blessing.

Somerset, UK, based Mr Strong, the author of numerous books on antiquity, and who recently visited Australia on a lecture tour, pointed out that he was not a Roman Catholic.

He was anxious that researchers into this now apparently recurring syndrome, one on a seemingly accelerating cycle, provided context and background.

Mass hysteria episodes in history, although equally alarming, were not exacerbated by the pervasive universal electronic communications of today.

It was now overdue and imperative claimed Mr Strong that this element became recognised for what it had become---a precipitating and sustaining component of contemporary outbreaks of mass hysteria.

|  From the MSCNewsWire reporters desk  ||  Monday 10 July 2017   |||