Tag: 夜上海论坛RR

  • Artificial intelligence: A frontier worth exploring for your credit union

    first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Artificial intelligence, or AI, may sound overwhelming or even scary. The truth is it can both automate and improve services delivered to members while improving the bottom line of financial institutions.AI is training computers to do things humans currently do better. Machines, using complex mathematical algorithms, demonstrate at least some behaviors associated with human intelligence. AI is often used in automating repetitive tasks, but automation and AI are very different solutions. AI covers a broad range of technologies including robotics, image and voice recognition.AI can be automatically improved by adding components of machine learning. Machine learning is an application of AI that provides the system the ability to automatically learn and improve from experience, much the way a child learns from his or her environment.Common applications of AI in the financial industry today include:last_img read more

  • FATF on-site visit could be disastrous for Guyana – Nandlall

    first_imgThe visit by the Financial Action Task Force (FATF) later this week to observe Guyana’s regulatory practices, could prove disastrous for this country, which is still to come up to par with international financial recommendations.PPP MP Anil NandlallFormer Attorney General and Legal Affairs Minister Anil Nandlall said on Thursday last, that the Guyana Government is failing in many ways and could find itself in a “serious problem” when the monitoring team visits Guyana.“When the on-site visit takes place later this month, we might find ourselves in problems, because we don’t have an enforcement unit as recommended by the FATF”, Nandlall said during a televised interview.He noted that when they group comes to Guyana, it will find two gaping holes in the system. One, he said, will be that the country does not have a Special Organised Crime Unit (SOCU) for the purpose of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. Also, he said Government has created a huge beauracratic organ, called an AML/CFT Authority, which should comprise of some 20 persons; 10 of whom will be holders of certain offices, similar to that of the Director of Public Prosecutions (DPP), the Police Commissioner, the head of CANU, the Guyana Revenue Authority, etc, and the other 10 to be appointed by Parliament.Nandlall said it could be difficult since Parliament took some 15 months to appoint the Director and the Deputy Director of the critical Financial Intelligence Unit (FIU).“I don’t know how long it would take to appoint two,” he stated.Legal Affairs Minister Basil Williams had said that Guyana would soon be able to exit FATF and the Caribbean Financial Action Task Force (CFATF) when officials from FATF carry out an on-site visit here.“Having met the core recommendations for CFATF, we would have been able to exit but for the fact that Guyana had been referred under the previous Government to the FATF process after being subjected to three public statements and still haven’t corrected or implemented the recommendations. So it’s obvious we cannot exit CFATF until we exit FATF and that is why we are here because we have satisfied all those recommendations in CFATF and that is why we were able to have them do the on-site visit”, he told journalists.The on-site visit to Guyana by FATF’s five-member team will be conducted on September 14 and 15.“With the on-site visit, FATF will be looking to see if the reforms contained in the agreed action plan between Guyana and FATF, if those reforms have been introduced, implemented and sustained and if there is political commitment to sustain it,” Williams said.He added that once the team is satisfied then Government, at the next October meeting, will move a motion for them to exit the process.The team will also meet with the Attorney General and compliance team; the Finance Minister; the Director of Public Prosecutions; supervisory authorities and reporting entities, including banks and remittance services.Williams said Guyana has prepared for this visit by having its AML/CFT compliance team conducting meetings with key agencies, including the Financial Action Unit (FIU), The Special Organised Crime Unit (SOCU) and the Bank of Guyana (BoG) to sensitise them on their AML/CFT obligations.“There is no delay; Guyana has done something that is unprecedented in the FATF world and that is within a year in Government, we are poised to exit both FATF and CFATT… This is the third round. In the fourth round you will not only have to comply, but show effective compliance. The fourth round has already started because we have already been exposed to the whole issue of de-risking and the National Assessment that has started to identify risks in Guyana”, the Attorney General said about the process.last_img read more

  • Supreme Court Warns NEC

    first_imgChief Justice Francis Korkpor yesterday warned authorities of the National Elections Commission (NEC) not to disqualify any candidate that desires to contest the October 10 presidential and legislative elections because only the Supreme Court has the sole legal authority to do so.Earlier, Kamara’s lead lawyer, Cllr. Arthur Johnson, argued that his client was never given any due process of law before his rejection, which contradicted the Constitution of Liberia.Chief Justice Korkpor’s warning came after the NEC admitted that it did not accord Mr. Abu Kamara, a sitting assistant minister of Post & Telecommunications, due process as an aspirant for Montserrado County District #15 Representative seat. The NEC rejected Mr. Kamara because he is a presidential appointee that did not resign his post two years before the elections, according to the Code of Conduct.Justice Korkpor told NEC authorities that they “cannot disqualify a candidate only based on the application form that he or she has filled in to be qualified for participation in the election process.”“A form is not an individual that you rely on to disqualify anyone, because you should have first invited the candidate for investigation before rejecting their nomination, which you have failed to do with the case of Kamara,” Justice Korkpor pointed out, adding, “tell the NEC to stop their rejection formalities unless you heard our ruling into this matter.”The Supreme Court did not give a specific date when it will deliver its ruling in Kamara’s case.The Supreme Court on March 3, in its opinion (ruling), confirmed the constitutionality of the Code of Conduct (CoC), with three justices in favor and two against. The NEC’s admission came during an argument on whether its rejection of Kamara was in compliance with the CoC. In his argument, Cllr. Musa Dean admitted that Kamara was not accorded due process when the decision to disqualify him was approved by NEC’s Board of Commissioners.“When the nomination committee noticed that Kamara placed on his form that he was serving as assistant minister for administration at the Ministry of Post and Telecommunications, the committee immediately disqualified him and submitted the document to the Board of Commissioners, which immediately confirmed the action,” Cllr. Dean said.“Kamara filed his nomination form on June 19 and he was rejected on July 1. Besides, he had 48 hours to appeal the decision, and he failed to take advantage of that,” Cllr. Dean said in his argument.“Immediately after the 48 hours; that was, on July 3, the commissioners confirmed the decision without hearing from Kamara,” Dean clarified. The NEC said Kamara was in total violation of the CoC, because he did not resign his position as assistant minister, before applying as an aspirant for the forthcoming presidential and legislative elections. “He admitted on his nomination form that he has not resigned his position and that alone makes the NEC reject his nomination for violation of the CoC,” the NEC lawyer argued.“Kamara is still in violation of the CoC because he currently serves as an assistant minister at the Ministry of Post and Telecommunications and has refused to resign that position,” Cllr. Dean added.Kamara’s lawyer had argued that the NEC, without any legal basis and support consistent with due process, denied and rejected his application on grounds that he is prohibited from contesting for public office as outlined in the controversial Code of Conduct (CoC).Kamara said although he did not resign his post two years prior to the upcoming elections, “it does not warrant disqualification to contest as a candidate in Section 15.1 of the CoC.”Cllr. Arthur Johnson said his client had already prepared his letter of resignation, but at that time President Sirleaf was not in the country to approve it, before pleading by saying “we beg this court to allow him to resign and be made to participate in the forthcoming presidential and legislative elections.”Cllr. Johnson said though Kamara was still occupying his position at the ministry, he could not wait for the return of President Sirleaf to approve his resignation, on grounds that he was going to miss the nomination deadline.“This is how he managed to apply and indicated on the NEC’s application form that he is an assistant minister at the Ministry of Post and Telecommunications. He never wanted to lie under oath, so he was fair enough to admit that he is serving as a presidential appointee,” Kamara’s lawyer argued.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window) Chief Justice Francis Korkpor – Advertisement –last_img read more

  • Manchester City sought to bypass financial fairplay rules: report

    first_imgThe allegations are the latest in the so-called Football Leaks series.FFP rules were introduced to curb European sides racking up huge debts and to put limits on how much clubs could lose over prescribed periods.City were fined 60 million euros by UEFA in 2014 for breaching those rules, but the two parties reached an agreement under which the club would get 40 million euros back if they stuck to the terms of their settlement.Der Spiegel says City were in danger of violating the FFP rules after they sacked manager Roberto Mancini in 2013 after the club failed to successfully defend their title.The magazine claims that in an internal email, City’s chief financial officer Jorge Chumillas wrote: “We will have a shortfall of 9.9m pounds in order to comply with UEFA FFP this season. The deficit is due to RM (Roberto Mancini) termination. I think that the only solution left would be an additional amount of AD (Abu Dhabi) sponsorship revenues that covers this gap.”To evade UEFA sanctions, another City executive allegedly suggested “a backdated deal for the next two years (…) paid up front”.– ‘Do what we want’ –Der Spiegel claimed that 10 days after the end of the season, Chumillas announced his decision — sponsorship contracts would be adjusted, with the club’s main sponsor Etihad paying £1.5 million more, the Abu Dhabi tourism authority chipping in £5.5 million and investment fund Aabar £0.5 million.Crucially, all the sponsors were allegedly asked to act as if the deal had been agreed at the start of the season.When Chumillas asked his colleague Simon Pearce if they could change the date of payments from the sponsors, Pearce allegedly answered: “Of course, we can do what we want.”In a repeated statement they first issued last week, City said they would not comment on what they described as “out of context materials purportedly hacked or stolen from City Football Group and Manchester City personnel and associated people.”The club’s manager Pep Guardiola insisted he wasn’t aware of any wrongdoing.“I’m completely honest, I don’t know what happen because I’m a manager. I’m focused on what happens on the pitch, in the locker room,” said Guardiola on Tuesday on the eve of City’s Champions League clash with Shakhtar Donetsk.“The business and how they handle this sort of situation, I am completely out. “But I am part of the club, I am supportive of absolutely the club and we want to do what we have to do in terms of the rules.”The accusations hinge on City’s insistence that the Abu Dhabi-based companies are independent sponsors and not merely tools of the Gulf state.If clubs can show that revenues come from sponsors and not just their owners, they can make larger expenditure on players without falling foul of the FFP rules.Some of City’s European rivals, including Bayern Munich and Atletico Madrid, have complained about such practices.In the first allegations on Friday, French investigative website Mediapart claimed Gianni Infantino — the current FIFA president who was then UEFA’s general secretary — had “directly negotiated” the agreement with City to reduce their 2014 fine.Mediapart claimed Infantino deliberately bypassed UEFA’s financial control authorities by proposing that City actually pay a fine “of 20 million euros instead of 60.”FIFA said the claims were an attempt to “undermine” Infantino.0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Der Spiegel claims Manchester City tried to bypass Financial Fair Play rules over Roberto Mancini’s sacking in 2013 © AFP / ANDREW YATESBerlin, Germany, Nov 6 – Premier League champions Manchester City attempted to bypass UEFA’s Financial Fair Play (FFP) regulations by allowing their Abu Dhabi-based sponsors to make cash injections, Der Spiegel alleges on Tuesday.The German news magazine said it had seen internal documents in which the club’s officials discussed how to wipe out a shortfall of almost £10 million ($13 million).last_img read more