Apple has KYC problems; like partners StanChart and HSBC Apple could be fined billions (while implicating its Apple Pay partners)

by Ganesh Sahathevan 

             Apple Pay might be a means of evading KYC/AML rules

By their own admission , Apple Support Advisors in The Philippines say that Apple's documents disclosing Apple IDs are false, do not prove that Apple accounts exist.  

In its search for revenue selling apps, Apple under the leadership of CEO Tim Cook has embarked to get into every facet of its customers' lives including their financial transactions. Cook has partnered the world's biggest banks, including StanChart and HSBC both of whom have been fined hundreds of millions for  breaching AML/KYC  rules. His partners in Singapore include DBS and OCBC,who have also been fined for AML breaches.

TO BE READ WITH 

Apple Pay network in the Asia-Pacific requires urgent review, given Apple Support Advisors admission that Apple Customer ID records are false

by Ganesh Sahathevan 

       Apple Pay partners include DBS Bank, ANZ in Australia, Citi and Synchrony in the United States,        and   CaixaBank in Spain

The list of Apple Pay participating banks and card issuers in the Asia-Pacific is extensive and includes some of the biggest names in the region including HSBC, OCBC, StanChart, CommBank, Citi and ANZ to name just a few. The Apple iPhone and AppleID lays at the heart of this system, and thus anything that affects the integrity of Apple's customer ID records can affect the integrity of the entire Apple Pay system, which includes the banks and card issuers who participate in the system.

The admission by Apple Support Advisors that Apple Customer ID records are false goes to the heart of the Apple Pay system and requires urgent review of the system by all participant's, and their regulators.

TO BE READ WITH 

Tuesday, December 31, 2024

Apple Support Advisors in The Philippines say that Apple's documents disclosing Apple IDs are false, do not prove that Apple accounts exist -admission puts in doubt Tim Cook's financial statements, reported earnings

 by Ganesh Sahathevan 

        Rotten Apples are not confined to food markets

Is Apple's Tim Cook culling Apple IDs  in order to reduce Apple 's storage costs, so as to artificially raise consolidated gross profits?


On the face of it such a scheme would seem incredible but a simple Google search for the phrase "Apple ID Disappeared" reveals that the problem is commonplace.

This writer became aware of the issue when he was informed by Apple Support's advisors in The Philippines that his Apple ID which has been in use since 2012 and which Apple has used to bill for services, inlcuding iCloud storage,never existed. 

The evidence here  includes an admission by Apple Support advisors in The Philippines that Apple IDs are not proof that Apple accounts exist. This was despite the personnel concerned being provided samples of Apple documents , including Apple  invoices and receipts of payments for iCloud storage.In short, Apple appears to be booking revenue for iCloud storage, while eliminating data stored, on the pretext that the related Apple IDs do not exist. 

Tim Cook has already gotten Apple into  trouble by overstating demand, and hence potential revenue from the China market in 2019. That debacle forced Apple to seek settlement in a USD 490 Million class action.  Earlier in 2015 Apple was ordered to pay Italian tax authorities 318 Million in taxes and penalties for failing to disclose revenue earned in that country. 

There does seem to be a scheme in place, inadvertently revealed by Apple Support's Advisors in The Philippines, to reduce costs and artificially raise consolidated gross profits. It might also be part of a scheme to increase costs and reduce taxable income of  subsidiaries located in higher taxing jurisdictions. 

END 

Posted by ganesh sahathevan at 5:48 PM 

Posted by ganesh sahathevan at 6:17 AM 

Posted by ganesh sahathevan at 7:46 PM

The 1MDB Penang Connection: Wong Chun Wai's Petro Saudi and Jho Low stories, Guan Eng and Tony Pua's conduct during the 1MDB investigation,and Robin Tan's presence on the PetroSaudi linked yacht meeting require investigation

 by Ganesh Sahathevan 

In 2010 then Editor of The Star Wong Chun Wai promoted PetroSaudi, one of the primary players in the 1MDB theft, and whose senior managers Tarek Obaid and Patrick Mahony are now serving time in a Swiss prison, convicted for 1MD-Petrosaudi matters. 

Prior to that in July 2010, it was The Star under Wong Chun Wai's direction that published the story :No ordinary Jho", which was later revealed to be part of Larry Low, Jho Low's father's attempt to burnish his son's credentials. Tom Wright and Bradley Hope say in their 1MDB account of the 1MDB theft, The Billion Dollar Whale: 

Back in Penang, where the New York Post article about Low’s clubbing habits had raised eyebrows, Larry Low was furious and ordered a damage control strategy for his son. After his French vacation in the summer of 2010, Low flew back to Penang, and, dressing in a conservative black suit with a light blue tie, gave a lengthy interview to a local English-language newspaper, the Star.

Penang is in a sense The Star's natural home,  and it is also where Larry , Jho and family come from. Given that coincidence it is not surprising that Larry Low called on contacts at The Star to promote his son. 

Penang is also the natural home of the DAP, and this matter which concerns Jho Low's aunt Goh Gaik Kim's appointment to a compliance role at TRX City,  remains unanswered: 

Goh Gaik Kim's senior compliance role at TRX City requires an immediate explanation from Lim Guan Eng (and Tony Pua);Lendlease owes an explanation to shareholders

The Penang connection also featured in this issue, which also remains unanswered:

That KPMG was among those being investigated (for 1MDB related issues)  is curious given that then  Minister For Finance Lim Guan Eng had  appointed KPMG partner Dato’ Ooi Kok Seng as his  "Special Officer".

As reported previously on this blog, in the story   Malaysia's Minister For Finance appoints KPMG partner as "Special Officer", despite KPMG's contribution to 1MDB's losses :

Dato’ Ooi Kok Seng is KPMG Head (North).He seems to have won the favour of the Penang Government and the DAP

Penang is also the home base of  the former Berjaya Toto executive chairman, Tan Sri Tan Kok Ping.  As reported, Berjaya Sports Toto executive chairman and directorships are   appointments granted by the Finance Minister of the day, and Berjaya's controlling shareholder, Vincent Tan. 

Intriguingly Woung Chun Wai was recently appointed a director of Berjaya Sports Toto.  The current chairman is Vincent's son Robin Tan Yeong Chin.  According to Sarawak Report, citing a passenger manifest, Robin Tan was present at that infamous meeting on a Saudi royal's yacht. 

TO E READ WITH 

aturday October 2, 2010

Saudis to come in with RM6bil investment

BY WONG CHUN WAI 
NEWSDESK@THESTAR.COM.MY

LONDON: PetroSaudi, a global private investment company owned by the Saudi royal family, is expected to invest billions of ringgit in Malaysia.

The international oil exploration and production company has indicated interest to invest over US$2bil (RM6.2bil) in the infrastructure and energy sectors.

The company already has an RM8.7bil joint venture with 1Malaysia Development Bhd, a wholly Government-owned firm, which acts as a vehicle for Middle East investments in Malaysia.

The joint venture is expected to focus on global strategic assets in petroleum-related industries, renewable energy and power, for the benefit of lowering the cost of energy in Malaysia.

“Ultimately, the bulk of the capital and returns will be reinvested in Malaysia,” said banking sources.

The sources said PetroSaudi is also eyeing significant direct investment in Malaysia’s Islamic banking sector.

Details are not immediately available but the sources said discussions were on-going which would feature Malaysia in the roadmap of Islamic banking.

“Over the next few months, exciting developments will take place to boost Malaysia’s position, especially participation from long-term Middle-Eastern investors,” said a government source.

Cash rich PetroSaudi, founded by the Saudi royal family with Tarek Essam Ahmad Obaid leading the charge, has been snapping up value investments.

Last week, it acquired Malaysian builder UBG Bhd for RM1.5bil by raising its stake to 89.8% after its three stakeholders agreed to sell the company and its two subsidiaries.

At the same time, PetroSaudi also leased a US$2.5bil (RM7.7bil) platform to Venezuela’s state oil company, Petroleos de Venezuela SA as announced by Venezuela’s Energy Minister.

The platform will be used to develop offshore natural gas resources in the country, which has the most natural gas reserves in South America.

Saudi sources said Tarek, a partner of Renault F1 team, had a positive impression of Malaysia with support from the Saudi royal family, whose relationship with Prime Minister Datuk Seri Najib Tun Razak is at an all-time high.

In January, Najib was awarded the King Abdul Aziz Order of Merit (Ist Class) by King Abdullah Abdulaziz Al Saud, the first Asian leader to be given the honour.

The highest Saudi civilian award was also given to US President Barack Obama when he visited the country last year.

“The relationship between King Abdullah and Najib is important.

“It has been crucial in the support showed by the Saudis, initially through PetroSaudi and more substantial foreign direct investiment is expected,” the Saudi sources added.

The sources said yesterday that key members of the Saudi royal family were expected to visit Malaysia over the next three months when several major announcements would be made.

In Kuala Lumpur, analysts say the US$2bil from PetroSaudi Inter­national Ltd is expected to provide a boost to the domestic economy.

A bank-backed analyst believed that the investment from the Arab country would pave the way for more capital inflow from the Gulf.

“It (investment from PetroSaudi) will bring a positive spill-over to other sectors of the economy.

“It will provide positive reverberations for Malaysia’s real economy,” another analyst said without elaborating.

A power analyst expects the oil exploration and production company to invest in the energy sector, given the opportunity in the green energy sector and that the Government was promoting green energy.

Apple Pay network in the Asia-Pacific requires urgent review, given Apple Support Advisors admission that Apple Customer ID records are false

by Ganesh Sahathevan 

       Apple Pay partners include DBS Bank, ANZ in Australia, Citi and Synchrony in the United States,        and   CaixaBank in Spain

The list of Apple Pay participating banks and card issuers in the Asia-Pacific is extensive and includes some of the biggest names in the region including HSBC, OCBC, StanChart, CommBank, Citi and ANZ to name just a few. The Apple iPhone and AppleID lays at the heart of this system, and thus anything that affects the integrity of Apple's customer ID records can affect the integrity of the entire Apple Pay system, which includes the banks and card issuers who participate in the system.

The admission by Apple Support Advisors that Apple Customer ID records are false goes to the heart of the Apple Pay system and requires urgent review of the system by all participant's, and their regulators.

TO BE READ WITH 

Tuesday, December 31, 2024

Apple Support Advisors in The Philippines say that Apple's documents disclosing Apple IDs are false, do not prove that Apple accounts exist -admission puts in doubt Tim Cook's financial statements, reported earnings

 by Ganesh Sahathevan 

        Rotten Apples are not confined to food markets

Is Apple's Tim Cook culling Apple IDs  in order to reduce Apple 's storage costs, so as to artificially raise consolidated gross profits?


On the face of it such a scheme would seem incredible but a simple Google search for the phrase "Apple ID Disappeared" reveals that the problem is commonplace.

This writer became aware of the issue when he was informed by Apple Support's advisors in The Philippines that his Apple ID which has been in use since 2012 and which Apple has used to bill for services, inlcuding iCloud storage,never existed. 

The evidence here  includes an admission by Apple Support advisors in The Philippines that Apple IDs are not proof that Apple accounts exist. This was despite the personnel concerned being provided samples of Apple documents , including Apple  invoices and receipts of payments for iCloud storage.In short, Apple appears to be booking revenue for iCloud storage, while eliminating data stored, on the pretext that the related Apple IDs do not exist. 

Tim Cook has already gotten Apple into  trouble by overstating demand, and hence potential revenue from the China market in 2019. That debacle forced Apple to seek settlement in a USD 490 Million class action.  Earlier in 2015 Apple was ordered to pay Italian tax authorities 318 Million in taxes and penalties for failing to disclose revenue earned in that country. 

There does seem to be a scheme in place, inadvertently revealed by Apple Support's Advisors in The Philippines, to reduce costs and artificially raise consolidated gross profits. It might also be part of a scheme to increase costs and reduce taxable income of  subsidiaries located in higher taxing jurisdictions. 

END 

Posted by ganesh sahathevan at 5:48 PM 

Posted by ganesh sahathevan at 6:17 AM 

Apple's abuse of customer accounts a danger to any national payment system that it accesses - questions for Bangko Sentral ng Pilipinas (BSP) Deputy Governor Mamerto Tangonan as Apple considers registering as a payment system operator in the Philippines

 by Ganesh Sahathevan 

Timothy Donald Cook  is the current chief executive officer of Apple Inc

The Manila Bulletin and others reported: 

Apple Pay and Google Pay are exploring the possibility of entering the Philippine market, but must first register with the Bangko Sentral ng Pilipinas (BSP) as operators of payment systems (OPS), a central bank official said.

BSP Deputy Governor Mamerto Tangonan confirmed that both tech giants have initiated discussions with the central bank, signaling a potential step toward offering their digital payment services locally.

"They're exploring, and we had a discussion on their activities. It was clear to us that they are—when you touch the payment system, you are an operator of payment systems," Tangonan told reporters on Dec. 2.

How Apple might be permitted to "touch the payment system"  given its record of destroying or otherwise losing customer records  (see story below) is hard to fathom  and hence it will be interesting to observe how BSP Deputy Governor Mamerto Tangonan navigates the application. 

To Be Read With 

Tuesday, December 31, 2024

Apple Support Advisors in The Philippines say that Apple's documents disclosing Apple IDs are false, do not prove that Apple accounts exist -admission puts in doubt Tim Cook's financial statements, reported earnings

 by Ganesh Sahathevan 

        Rotten Apples are not confined to food markets

Is Apple's Tim Cook culling Apple IDs  in order to reduce Apple 's storage costs, so as to artificially raise consolidated gross profits?


On the face of it such a scheme would seem incredible but a simple Google search for the phrase "Apple ID Disappeared" reveals that the problem is commonplace.

This writer became aware of the issue when he was informed by Apple Support's advisors in The Philippines that his Apple ID which has been in use since 2012 and which Apple has used to bill for services, inlcuding iCloud storage,never existed. 

The evidence here  includes an admission by Apple Support advisors in The Philippines that Apple IDs are not proof that Apple accounts exist. This was despite the personnel concerned being provided samples of Apple documents , including Apple  invoices and receipts of payments for iCloud storage.In short, Apple appears to be booking revenue for iCloud storage, while eliminating data stored, on the pretext that the related Apple IDs do not exist. 

Tim Cook has already gotten Apple into  trouble by overstating demand, and hence potential revenue from the China market in 2019. That debacle forced Apple to seek settlement in a USD 490 Million class action.  Earlier in 2015 Apple was ordered to pay Italian tax authorities 318 Million in taxes and penalties for failing to disclose revenue earned in that country. 

There does seem to be a scheme in place, inadvertently revealed by Apple Support's Advisors in The Philippines, to reduce costs and artificially raise consolidated gross profits. It might also be part of a scheme to increase costs and reduce taxable income of  subsidiaries located in higher taxing jurisdictions. 

END 

Apple Support Advisors in The Philippines say that Apple's documents disclosing Apple IDs are false, do not prove that Apple accounts exist -admission puts in doubt Tim Cook's financial statements, reported earnings

 by Ganesh Sahathevan 

        Rotten Apples are not confined to food markets

Is Apple's Tim Cook culling Apple IDs  in order to reduce Apple 's storage costs, so as to artificially raise consolidated gross profits?


On the face of it such a scheme would seem incredible but a simple Google search for the phrase "Apple ID Disappeared" reveals that the problem is commonplace.

This writer became aware of the issue when he was informed by Apple Support's advisors in The Philippines that his Apple ID which has been in use since 2012 and which Apple has used to bill for services, inlcuding iCloud storage,never existed. 

The evidence here  includes an admission by Apple Support advisors in The Philippines that Apple IDs are not proof that Apple accounts exist. This was despite the personnel concerned being provided samples of Apple documents , including Apple  invoices and receipts of payments for iCloud storage.In short, Apple appears to be booking revenue for iCloud storage, while eliminating data stored, on the pretext that the related Apple IDs do not exist. 

Tim Cook has already gotten Apple into  trouble by overstating demand, and hence potential revenue from the China market in 2019. That debacle forced Apple to seek settlement in a USD 490 Million class action.  Earlier in 2015 Apple was ordered to pay Italian tax authorities 318 Million in taxes and penalties for failing to disclose revenue earned in that country. 

There does seem to be a scheme in place, inadvertently revealed by Apple Support's Advisors in The Philippines, to reduce costs and artificially raise consolidated gross profits. It might also be part of a scheme to increase costs and reduce taxable income of  subsidiaries located in higher taxing jurisdictions. 

END 

Top Education Group (HKEX:1752) did not inform the HKEX that it was trading without its law school being re-accredited for over 3 months

by Ganesh Sahathevan 

Top Education Group (HKEX:1752) did not inform the HKEX  that it was trading without its law school being re-accredited for over 3 months. Being a listed entity Top has continuous disclosure obligations. 

Accreditation expired on 30 June 2024 and was only renewed on 8 October 2024. This was not the case in 2019 when re-accreditation last occurred.

TO BE READ WITH

Thursday, December 19, 2024

NSW LPAB reaccreditated  Top Education Group's law school in October 2024, 3 months after expiration - Students ,prospective students not informed, and Top was in breach of HKSE continuos disclosure rules 

 by Ganesh Sahathevan 

The NSW LPAB has responded in writing  to the story below, about Top Education Group Ltd , which trades as  Australian National Institute of Management and Commerce. A copy was sent to  its chairman NSW Chief Justice Andrew Bell and hence the response.

In its first letter the NSW LPAB's current Executive Officer Jerry Riznyczok said: 

  The Board also records in its Annual Report every year the accreditation processes undertaken during the previous financial year.

The re-accreditation for Australian National Institute of Management and
Commerce’s Bachelor of Laws will be reported in the 2024-25 Annual Report, which 
will be released next year.

Clarification was sought as to when exactly e re-accreditation  was granted. In response the NSW LPAB said via email: 

The Australian National Institute of Management and Commerce’s Bachelor of Laws was reaccredited by the Board at its meeting on 8 October 2024.

 

This reaccreditation will be reported in the 2024-25 Annual Report, which will be drafted after 30 June 2025 and published towards the end of 2025.

Top Group's law school accreditation expired on 30 June 2024 students  but students and prospective students of its law school appear  not to have been  informed that their law school had not been granted reaccreditation by the due date.

Top was also in breach of HKSE continuous disclosure rules, for the HKEX was never informed of the above delay. 

The NSW LPAB has not said anything about the reasons for the delay. It does add to the fishy smell around the granting and continued reaccreditation of this license.

Sunday, November 24, 2024

Communist Party China linked Top Education Group law school scandal deepens- Australian law school regulator NSW LPAB, led by NSW Chief Justice Andrew Bell refusing to say if Top's law school has been reaccredited

Singapore International Commercial Court Judge Tom Bathurst relied on a Raja Petra Kamaruddin/Third Force conspiracy theory , but Australia's judicial bodies did not think that any investigation of his judgement was required despite the publicity; matter not likely disclosed to the High Court Singapore

 by Ganesh  Sahathevan 

Australian Judge Tom Bathurst who thinks 1MDB was a media conspiracy against Najib, and that Vincent Tan was defamed in Australia despite his false accounting that led to the collapse of his ASX listed Carlovers, has been appointed to the Singapore High Court as a judge of the Singapore International Commercial Court (SICC).

The source of Mr Bathurst's information was a post  on the recently deceased Raja Petra Kamaruddin's Malaysia-Today, which linked to and republished a story by Reggie Jessy (aka 

Raggie Jessy Rithaudeen

) published on his Third Force website. Publication and republication occured when the two men worked together, and on behalf of Najib Razak. While the matter of Bathurst's reliance on RPK was made public by  the national daily The Australian in January 2019, Australia's judicial bodies ignored the matter and Bathurst continued to serve as Chief Justice NSW . It does not appear that the matter was disclosed to the 

Singapore High Court when Bathrust was appointed judge of the SICC. 

TO BE READ WITH 

Bizarre blog claims used to deny man right to practise law

• EXCLUSIVE

  BEN BUTLER

  BUSINESS REPORTER

  
• 12:00AM JANUARY 17, 2019
• 2 COMMENTS

The body overseen by Chief Justice Tom Bathurst responsible for deciding who can practise law in NSW relied on a wildly defamatory Malaysian blog depicting ABC journalists, former British prime minister Tony Blair, financier George Soros and others as part of a global conspiracy when deciding to deny a would-be solicitor a certificate to practise.

Chief Justice Bathurst and Legal Practitioner Admission Board executive officer Louise Pritchard declined to answer The Australian’s questions about how the article came into the board’s hands and why its members felt the conspiracy-laden material could be relied upon as part of a decision to deny Sydney man Ganesh Sahathevan admission as a lawyer. Nor would either say which of the 10 members of the LPAB, three of whom are serving NSW Supreme Court judges, was on the deciding panel.

Ms Pritchard has left her role at the LPAB since The Australian began making inquiries in September. The article, published in December 2017 on website The Third Force, accuses Mr Sahathevan of engaging in a conspiracy to attack then Malaysian prime minister Najib Razak.

READ NEXT

• 
  EXCLUSIVE
  Would-be lawyer denied by blog
  BEN BUTLER

Mahathir Mohamad, who returned as prime minister after toppling Mr Najib in elections held last May, is also smeared as a participant in the globe-spanning conspiracy.

Mr Najib was under pressure at the time over the country’s sovereign wealth fund, 1MDB, which the US Department of Justice says has been looted of billions of dollars that was spent on property, art, jewels and the Leonardo DiCaprio film, The Wolf of Wall Street.

Malaysian authorities have charged Mr Najib with dozens of corruption offences that could attract decades in jail over his role in the 1MDB scandal, which allegedly included the flow of about $US1 billion through his personal bank account.

The article’s author, Malaysian political operative and Najib loyalist Raggie Jessy, also accused Rewcastle-Brown, Stein and Besser of receiving money, totalling millions of dollars, to participate in a Four Corners program exposing the 1MDB scandal that aired on the ABC in March 2016.

There is no suggestion any of Mr Jessy’s bizarre allegations are true. However, the LPAB cited the piece when denying Mr Sahathevan admission as a lawyer in an undated and unsigned set of reasons sent to him on August 3 last year.

It used the article as evidence in a passage dealing with legal conflicts between Mr Sahathevan, who has largely worked in the past as a journalist, his former employer, Malaysia’s Sun Media Group, and the company’s owner, tycoon Vincent Tan.

In that context, the board said the Third Force article reported “that Mr Sahathevan was investigated for blackmail, extortion, bribery and defamation”. While the article claims that blackmail, extortion, bribery and defamation “are but some of the transgressions many from around the world attribute” to Mr Sahathevan, The Australian was unable to find any reference in it to an investigation into him on these grounds.

It is unclear why the board felt the need to rely on the article, as it also made adverse findings about Mr Sahathevan’s character based on a series of other allegations including that he used “threatening and intimidating” language in emails to the College of Law and the NSW Attorney General and did not disclose his sacking from a previous job to the board.

Mr Sahathevan has denied the allegations in correspondence with the board.

The board also cited evidence that one of Mr Sahathevan’s blogs on Malaysian politics was banned by the Najib regime as indicating his poor character.

In an email to Chief Justice Bathurst, sent on August 30, Rewcastle-Brown said her site, Sarawak Report, which exposed much of the 1MDB scandal, was banned by the Malaysian government.

“I along with other critics of the 1MDB scandal (which includes Mr Sahathevan) became the target of immense state-backed vilification, intimidation and online defamation campaigns on behalf of the Malaysian government,” she said.

She said the board’s use of the Third Force article against Mr Sahathevan displayed “a troubling level of misjudgment and poor quality research, giving a strong impression that someone seeking to find reasons to disqualify this candidate simply went through the internet looking for ‘dirt’ against him”.

“The Third Force has consistently been by far the most outlandish, libellous, vicious and frankly ludicrous of all the publications that were commissioned as part of former prime minister Najib Razak’s self-proclaimed ‘cyber army’ which he paid (and continues to pay) to defame his perceived enemies and critics,” she said.

Besser, who now works in the ABC’s London bureau, told The Australian: “It’s clearly nonsense and comes from the darkest corners of some pretty wild Malaysian conspiracy theorists.”

Mr Sahathevan’s application is to be reconsidered at an LPAB meeting next month (Admission has since been denied, for the same reasons, but without explicit reference to the Thirdforce story).

BEN BUTLER

BUSINESS REPORTER

Business reporter Ben Butler has covered everything from tractors to fashion to corporate collapses. He has previously worked for the Herald Sun and as a senior business reporter with The Age and Sydney Morning... Read more