Money laundering a security concern

first_img“We cannot measure the problem of money laundering,” she said. “Quite frankly, the problem hasn’t gotten any better, only bigger.” Laundered money gets “washed” after it is introduced into the currency system via banks, money service systems, casinos and several other avenues, Salazar said. Profits from money laundering often end up financing legitimate businesses such as real estate firms, insurance companies and stock market investments, she said. Salazar also showed slides of thousands of dollars seized from cereal boxes, platform shoes, stereo speakers, bicycle tires and even inside condoms. “The hiding places are limited to the imagination of the crooks,” Salazar said. “They are getting pretty desperate.” Special Agent Martin Odenyo also advised business owners not to cut off all ties with a customer or business if they become suspicions. “Be non-committal, collect information and contact us so we can run them through our database,” he said. For more information, or to reserve a presentation for your business, call (213) 633-6249. sandra.molina@sgvn.com (562) 698-0955, Ext. 3028160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! SANTA FE SPRINGS – Local business owners can help stem the tide of money laundering and counterfeiting by reporting “red flag” signs to Homeland Security officials, an agent for the federal agency said Tuesday. “Know who your customers are,” U.S. Homeland Security Special Agent Ana Salazar told business owners at the Santa Fe Springs Chamber of Commerce’s quarterly security and safety briefing. “If you suspect someone or something doesn’t seem right – report it,” she said. Money laundering, the act of concealing the source of illegally gained currency, is a major concern for Homeland Security officials, expanding so quickly that federal agents are hard-pressed to keep tabs on it, Salazar said. last_img read more

Messi scores in EU court battle to trademark name

first_img0Shares0000A court rules that Lionel Messi is too famous to be confused with a company with a similar name © AFP / Josep LAGOLUuxembourg, Luxembourg, Apr 26 – Barcelona footballer Lionel Messi won a legal battle Thursday to register his name as a trademark to sell sports goods after an EU court ruled that he is too famous to be confused with other businesses.The Argentine star, the world’s highest earning footballer, rode out a challenge by a Spanish cycling gear manufacturer called Massi, which had challenged his trademark on the grounds that it was too similar to its own. “Lionel Messi may register his trade mark ‘MESSI’ for sports equipment and clothing,” said a ruling by the General Court of the European Union, the bloc’s second-highest court.“The football player’s fame counteracts the visual and phonetic similarities between his trade mark and the trade mark ‘MASSI’ belonging to a Spanish company,” the Luxembourg-based court said.The ruling caps a seven-year legal fight since the footballer first tried in 2011 to trademark his name with the EU’s intellectual property office.The boss of the Massi cycling goods company filed an appeal the same year, saying there was a “likelihood of confusion” with its own trademark, and the trademark office agreed.Judges admitted that the trademarks “are very similar phonetically” but said the IPO was wrong to assume that Messi was only known by people who were interested in football or sport.“Mr Messi is, in fact, a well-known public figure who can be seen on television and who is regularly discussed on television or on the radio,” the court said.The ruling comes days after it emerged that Messi has overtaken Cristiano Ronaldo as the highest earner in world football, according to France Football magazine.The Barcelona attacker is making 126 million euros ($154mn) in salary, bonuses and commercial revenue for the current season while his great Real Madrid rival is making 94mn euros.0Shares0000(Visited 1 times, 1 visits today)last_img read more