SIGNIFICANT CYBER INCIDENTS FOR THE PAST YEAR

The Center for Strategic and International Studies has published a timeline which contains summaries of significant cyber incidents since 2006.   It also has released a list of significant incidents over the past year.  The organisation focuses on cyber attacks on government agencies, defence and high tech companies, or economic crimes with losses of more than a million dollars.

https://www.csis.org/programs/strategic-technologies-program/significant-cyber-incidents

https://csis-website-prod.s3.amazonaws.com/s3fs-public/210901_Significant_Cyber_Incidents.pdf?iZAairy6vNXrSEp9cFC_TCaB0IxnkE3D

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

RENAISSANCE HEDGE FUND EXECS TO PAY £5 BILLION IN BACK TAXES IN US

On 3 September, City AM reported that Renaissance Technology executives and their family members have agreed to pay $7 billion in back taxes and fines as part of a settlement with the US tax authority as part of the largest tax settlement in US history.  The payments relate to trades made by the firm’s Medallion Fund between 2005 and 2015, with the IRS accusing the  company of registering short-term capital gains income as long-term profit which is taxed at a lower rate.  It is reported that the fund’s founder, Jim Simons, will pay an additional $670 million as part of the settlement.

https://www.cityam.com/renaissance-hedge-fund-pay-5bn-back-taxes/

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

US COURTS ADDRESS “FUGITIVE DISENTITLEMENT”: POTENTIAL GAME CHANGER FOR FOREIGN-BASED DEFENDANTS FACING US CHARGES

On 30 August, an article from DLA piper starts by pointing out that, in recent years, US prosecutors have increasingly pushed the envelope in bringing criminal charges against non-US professionals who live and work abroad and who may have never set foot in the UnUS, including for alleged violations of the FCPA, trade sanctions, the antitrust laws, and other statutes and regulations with extraterritorial implications.  Typically, pursuant to the fugitive disentitlement doctrine, these non-US citizens have not been allowed to challenge such charges unless and until they physically surrender to authorities in the US.  However, a recent decision may substantially affect a foreign-based criminal defendant’s ability to challenge the merits of her case without having to subject herself physically to the jurisdiction of US courts, and gives new hope to non-US defendants. The decision is said to narrow the definition of “fugitives” to those who have fled or otherwise taken affirmative steps to avoid facing charges in the US, and it explicitly excludes individuals who merely remain in their home countries. 

https://www.dlapiper.com/en/us/insights/publications/2021/08/us-v-bescond-addresses-fugitive-disentitlement/

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y