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 Politics › Re: Jamila Bio Ibrahim: Youth Minister Under Fire Over Misplaced Leadership by Cousin9999: 10:40pm On Sep 09, 2024 |
Njoku looks like he's about to drop the hottest reggae album. He looks like he spends most of his time in the forest like:
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| Family › Re: UK Woman Urges Nigerian Wives: Stop Reporting Husbands To UK Police by Cousin9999: 5:07pm On Sep 09, 2024 |
Some of the men crying in here should stop to think about why these women switch up. It's not because "wOmEn DoN't LoVe aNyBoDy." It's because they were or felt so royally screwed over by the economy and society back home that they adopted a survival mentality, or they just became bitter. You blame them, but not the sexists. 3 Likes |
| Travel › Re: US: A Good Hustle You Probably Haven't Considered by Cousin9999(op): 4:44pm On Sep 09, 2024 |
Also, you want to come across as professional and reliable, even if it's just a side hustle. So you're going to want to form a legal business structure, get a logo and uniforms, and some promo material. Your truck should also be painted up. And you need to be neat in appearance even though it's blue collar work. So crisp haircut and beard, and clean looking polo and/or jacket with your company logo. Like this guy (yes, I know xfinity is not his business lol, it's an example):
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| Travel › Re: US: A Good Hustle You Probably Haven't Considered by Cousin9999(op): 12:11pm On Sep 09, 2024 |
Related hustles you can do simply by having a pickup truck or large van: Moving service Rental service (rent your vehicle out) Hauling for Small Businesses/Retail Deliveries Truck Wrapping Construction Material Hauling |
| Romance › Re: Mia Khalifa Regrets Her Adult Film Roles by Cousin9999: 11:58am On Sep 09, 2024 |
https://www.nairaland.com/8167499/porn-myth People who participate in creating that material are not well.
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| Travel › Re: US: Starting A Trucking Company by Cousin9999(op): 11:38am On Sep 09, 2024 |
The hardest part appears to be financing, so some people just try to avoid that and save up. That said, here are some financing options (besides SBA) and info on financing in general: https://www.forbes.com/advisor/business-loans/best-semi-truck-financing/ Do NOT go with Wells Fargo, they're crooks. Also, With about 900,000 drivers to 500,000 businesses, there are fewer than two truckers for every company. To succeed, your trucking business must overcome driver shortages and cash flow problems. A trucking business loan can help with the latter by financially boosting your business to hire skilled employees at an attractive pay scale.More financing info: https://www.nationalfunding.com/blog/how-to-get-trucking-business-loans/ |
| Travel › Re: US: Starting A Trucking Company by Cousin9999(op): 11:30am On Sep 09, 2024*. Modified: 12:01pm On Sep 09, 2024 |
https://www.nationalbusinesscapital.com/blog/how-to-start-a-trucking-company-with-no-money/ Cost of Starting a Trucking Company ExplainedMore cost information here: https://www.adcomcapital.com/blog/how-much-does-it-cost-to-start-a-trucking-company/ |
| Travel › Re: US: Starting A Trucking Company by Cousin9999(op): 11:22am On Sep 09, 2024 |
https://ecapital.com/blog/how-to-start-a-trucking-company-with-just-one-truck/ As you learn how to start a trucking company, you’ll discover that the most time-consuming part is the paperwork needed to fulfill many requirements outlined by the FMCSA. The good news – it may be time-consuming, but thankfully, it’s not difficult to complete. |
| Travel › Re: US: Starting A Trucking Company by Cousin9999(op): 11:17am On Sep 09, 2024 |
The bottom line Learning how to start a trucking company can sound complicated. In reality, it’s not dissimilar to the steps involved in starting a small business of any other stripe. Your equipment costs may be a bit higher, and the hunt for talent a bit more competitive, but the underlying principles involved in starting a trucking business are still the same. With the right business plan, licensure, and financing in place, you too can get the wheels rolling on your trucking business. https://www.nerdwallet.com/article/small-business/how-to-start-a-trucking-company |
| Travel › Re: US: Starting A Trucking Company by Cousin9999(op): 11:17am On Sep 09, 2024 |
Commercial truck financing If you don’t qualify for an SBA loan, equipment financing loans are a great alternative and also offer borrower-friendly repayment terms. Under this umbrella, you’ll also find commercial truck financing for buying or leasing new or used trucks or repairing or upgrading a truck you already own. The way this type of loan works is you will approach the lender with a quote for exactly how much your equipment (in this case, most likely a truck) will cost. If approved, the lender then provides you with the appropriate sum of money, which you’ll repay (plus interest) over a fixed amount of time. Keep in mind that the truck serves as collateral, should you fail to repay your loans. Because of this “safety net,” lenders are more likely to approve you for commercial truck financing. Small business term loans Another option to help start your trucking company is a business term loan. A lender provides a certain sum of money to the borrower to be repaid during a set amount of time. The interest rate associated with the loan may stay fixed throughout its duration or may vary based on economic factors. While short-term business loans are easier to get than SBA loans—chiefly because they have lower credit requirements and easier applications—they typically hold higher interest rates, lower loan tallies, and must be repaid much more quickly. 4 reasons to start a trucking company Here are the top four reasons why learning how to start a trucking company could be your next business venture: 1. There’s a major shortage of drivers The trucking industry is forecasted to need 100,000 drivers in the near future, and companies are desperate to find drivers to fill the void. When you want to figure out how to start a trucking company, this will likely provide you with a tactical advantage, considering that you’ll be helping to fill a need for more trucks and drivers. 2. There’s a need for innovation in the industry Nearly any industry welcomes innovation—including the trucking industry. Increasing efficiency within your fleet and establishing less fuel-intensive routes and logistics helps you improve your value to your customers. This gives you a competitive advantage, positioning your business for long-term success. 3. It's recession-proof Trucking is the backbone of the country’s economy. As a trucking business owner, you’ll play a pivotal role in getting goods to stores and warehouses. Also, the trucking industry is largely recession-resistant—there is always a need for trucking companies to obtain products and materials across the country. 4. It’s easy to start small (and scale) You won’t have to invest as much into your trucking company before it turns a profit, and you can better expand your business as demand—and your profit margin—grows. Eventually, you can learn how to start a trucking company without driving by hiring additional employees and drivers. Article continues in next post. |
| Travel › Re: US: Starting A Trucking Company by Cousin9999(op): 11:15am On Sep 09, 2024 |
Buy vs. lease This buy vs. lease debate depends on your buying power as a small business owner. And there are several advantages and disadvantages that accommodate each route. When you buy a truck outright, your payment is completed—no need to make monthly payments. You can also use the built-in equity to trade in your truck in the future. Of course, this also means a larger down payment—usually 10% to 25%—depending on whether you buy new or used. When you lease, you don’t own your truck. You must make regular payments and cannot use the equity to buy a new truck. Also, you must abide by specific regulations, including maintaining its condition and mileage restrictions. But leasing offers some advantages—mainly, the lessor will often cover your maintenance expenses. Whether you choose to buy outright or lease, you will still likely need to find some way to finance your purchase. Step 5: Secure startup funding As we mentioned above, buying a commercial truck is no small expense. Thus, you'll likely need to secure startup funding to get your trucking business off the ground. Besides the below funding options, also consider opening a business bank account and credit card. How much does it cost to start a trucking company? Trucking can be lucrative, no doubt. It’s also guaranteed to require a fair amount of business capital to start a trucking company—a commercial truck costs around $80,000, after all. Then, of course, there’s the capital that goes into keeping your fleet operating at peak performance. In addition to purchasing your truck, you’ll also want to factor into your business budget: Registration and documentations Business permits and licenses Truck maintenance fees Trucking accounting software These expenses can tally up. According to the Small Business Administration, trucking and transport companies took out an average loan of $106,000. So, if you want to learn how to start a trucking company with no money, you won’t get very far. You will likely need to seek additional funding to make your business plan a reality. The good news is that there are a ton of business loan options available to trucking businesses: SBA loans You’ll find that SBA loans are increasingly popular due to their low interest rates, high loan totals, and generous repayment terms. Moreover, the SBA guarantees up to 85% of the loan’s total if the borrower can’t make repayments. These loans are great to kickstart your trucking company but are notoriously hard to get. You need a long and established credit history, a good credit score, and a high tolerance for paperwork. If you think you can make the cut, check this full list of SBA loan types. Article continues in next post. |
| Travel › Re: US: Starting A Trucking Company by Cousin9999(op): 11:13am On Sep 09, 2024 |
Step 3: Obtain business licenses, permits, and insurance Next, make sure your trucking company is operating legally. To do so, you'll want to look into business licenses, permits, and insurance. Business licenses and permits Trucking companies face unique challenges and liabilities, which makes it crucial that you line up all the required licenses and insurance policies as required by your state of operation. Most, if not all, states will require you to get a business license if you intend to headquarter your business within its boundaries. You’ll need to get these policies and licenses set up before your first shipment hits the road. Another license you must secure is an International Registration Plan. This is required if your truck is 26,000 pounds and crossing state lines. This allows you to operate your truck in all states and some Canadian provinces. As regulations vary by state, consult with your state’s guidelines to find out exactly what you need to stay on the right side of local regulations. Business insurance Some types of business insurance you’ll likely need to obtain include public liability insurance, cargo insurance, bobtail, and physical damage insurance. If you’re unsure about whether you're fully compliant with your business requirements, it’s always a good idea to consult with a startup lawyer that's worked with other trucking companies. Their expertise ensures you're taking all the legally required steps before starting your trucking business. Step 4: Choose the right truck Your commercial truck will be one of your most significant investments when learning how to start a trucking company—it’s essential that you choose the right one for your business. When selecting your truck, you’ll want to consider some of the factors: Price Comfort level Your preferred cab style Weather resistance Whether they have multiple dealerships across the U.S. Weight limit New vs. used Whether you’re operating locally or long distances As with any vehicle you purchase, you should do a test drive. But if you want to narrow down your brands, you’ll find that Kenworth, Freightliner, and Peterbilt trucks can accommodate most of your trucking needs: Article continues in next post. |
| Travel › US: Starting A Trucking Company by Cousin9999(op): 11:12am On Sep 09, 2024*. Modified: 4:51pm On Sep 09, 2024 |
Just over 70% of all U.S. freight moves through trucks, which means that there’s always a demand for trucks—and, more importantly, trucking companies. If you want to know how to start a trucking company, there are plenty of factors to consider, including hiring employees, choosing your business entity, and securing financing. We’ll break down what you need to know about how to start a trucking company from start to finish and help you make the right decisions to get your trucking business in high gear. Step 1: Write a business plan It might not seem like you’d need to write a business plan for a trucking company, given that the underlying operating premises are somewhat straightforward. Writing a business plan, however, helps you focus on the core parts of your company. A good business plan lays out the reason for your company’s founding, the capital required to get started, financial projections that display costs versus anticipated profits, and other strategy details. Writing a trucking company business plan keeps you focused on building your company according to a blueprint, which is especially helpful as you get into the dirty work of getting started and may not have time to refocus on your overarching strategy. Just as importantly, you’ll also need a business plan as part of just about any small business loan application. You’ll be glad you created a plan before you start applying for funding, as the process will be smoother. To help you get started, check out our free business plan template. Step 2: Register your business Once you’ve written a rock-solid business plan, the next step you’ll want to take to start a trucking company is to register your business with any local or state governments that require it. Choose a business entity You’ll want to take a look at the different kinds of business entities available to you before submitting your paperwork. Each business entity offers various personal liability protections, taxation methods, ownership structures, and other technical differences. If you’re starting a one-person, self-owned trucking company, look into limited liability companies (LLC) to protect your personal assets. If you’re establishing your company with a business partner, you will also want to consider the different kinds of LLCs designed for partnerships (limited liability partnership) and corporations. There are other business entities out there as well worth considering, but it’s best to start with these two categories and determine from there whether or not you need to go with something different. The process of incorporating your business is relatively straightforward, even if it’s a little paperwork-heavy. Typically all it takes is some supporting documentation about the company’s principals and founders, tax identification information, a general business agreement, and a few other materials about your soon-to-be company (which largely differ depending on the state you’re registering in). Choose a business name Alongside registering your business, be sure to choose a unique business name. Your business name will the first impression for potential clients, so make sure it communicates your brand, specialty, and personality. Also, be sure that your business name is not taken. Once you have a boil down your options to a few names, do a quick secretary of state and U.S. Patent and Trademark search to ensure the name you're considering are available for use. Article continues in next post. |
| Travel › Re: Thieves Snatched His Phone In London - It Was In China A Month Later by Cousin9999(op): 1:47pm On Sep 07, 2024 |
"Phones will be offloaded to known fences within a couple of hours," he said. "It's always a battle against the clock immediately following any of these crimes, but people should always report these things to the police, because if we don't know that these crimes are taking place, we can't investigate them." And sometimes just one arrest can make a difference. "When we do catch these criminals, either in the act or after the fact, our crime rates tank," he said. "Quite often that individual has been responsible for a huge swathe of crime." But the problem is not just about policing. In a statement, Commander Richard Smith from the National Police Chiefs' Council, which brings together senior officers to help develop policing strategy, said it would "continue to target" the most prolific criminals. "We know that we cannot arrest our way out of this problem," he said. "Manufacturers and the tech industry have an important role in reducing opportunities for criminals to benefit from the resale of stolen handsets." Tracking and disabling Stolen phones can already be tracked and have their data erased through services such as "Find My iPhone" and "Find My Device", from Android. But policing minister Dame Diana Johnson said this week the government wanted manufacturers to ensure that any stolen phone could be permanently disabled to prevent it being sold second-hand. Police chiefs will also be tasked with gathering more intelligence on who is stealing phones and where stolen devices end up. A growing demand for second-hand phones, both in the UK and abroad, is believed to be a major driver behind the recent rise in thefts, the government said. The Home Office is to host a summit at which tech companies and phone manufacturers will be asked to consider innovations that could help stop phones being traded illegally. PC Evans said there was "no magic bullet", but he said there was one thing manufacturers could do which would be "enormously helpful" to the police - more accurate tracking. "At this moment in time, phone tracking is okay," he said. "But it's not that scene in Total Recall yet, where you're able to run around with a tracking device in your hand, sprinting down the road after a little bleeping dot. "I appreciate it's a big ask from the phone companies to make that a thing, but that would be enormously helpful from a policing perspective." Apple and Android did not provide the BBC with a statement, but Samsung said it was "working closely with key stakeholders and authorities on the issue of mobile phone theft and related crimes". https://www.bbc.com/news/articles/c3rdy132q3lo 1 Like 1 Share |
| Travel › Re: Thieves Snatched His Phone In London - It Was In China A Month Later by Cousin9999(op): 1:44pm On Sep 07, 2024 |
The city is home to 17.6 million people and is a big tech hub, sometimes referred to as China's Silicon Valley. Police could not help In the moments after Akara’s phone was stolen, he saw police officers on the street and he told them what had happened. Officers, he said, were aware of thieves doing a “loop of the area” to steal phones, and he was encouraged to report the offence online, which he did. A few days later, he was told by the Metropolitan Police via email the case was closed as “it is unlikely that we will be able to identify those responsible”. Akara subsequently submitted the pictures and information he had gathered from the locations where his stolen phone had been. The police acknowledged receipt but took no further action. The Metropolitan Police had no comment to make on Akara’s specific case, but said it was “targeting resources to hotspot areas, such as Westminster, Lambeth and Newham, with increased patrols and plain clothes officers which deter criminals and make officers more visibly available to members of the community”. Lost photos of mum Many other people have contacted the BBC with their experiences of having their phones taken. One, James O’Sullivan, 44, from Surrey, says he lost more than £25,000 when thieves used his stolen device's Apple Pay service. Meanwhile, Katie Ashworth, from Newcastle, explained her phone was snatched in a park along with her watch, and a debit card in the phone case. “The saddest thing was that the phone contained the last photos I had of my mum on a walk before she got too unwell to really do anything - I would do anything to get those photos back," the 36-year-old says. Again, she says, there was a lack of action from the police. "The police never even followed it up with me, despite my bank transactions showing exactly where the thieves went," she said. "The police just told me to check Facebook Marketplace and local second-hand shops like Cex." 'Battle against the clock' for police So why are the police seemingly unable to combat this offence - or recover stolen devices? PC Mat Evans, who has led a team working on this kind of crime for over a decade within West Midlands Police, admitted that only "quite a low number" of phones that are stolen actually get recovered. He says the problem is the speed with which criminals move. Article continues in next post. 1 Like 1 Share |
| Travel › Thieves Snatched His Phone In London - It Was In China A Month Later by Cousin9999(op): 1:40pm On Sep 07, 2024 |
Early on a Saturday morning in April, Akara Etteh was checking his phone as he came out of Holborn tube station, in central London. A moment later, it was in the hand of a thief on the back of an electric bike - Akara gave chase, but they got away. He is just one victim of an estimated 78,000 "snatch thefts" in England and Wales in the year to March, a big increase on the previous 12 months. The prosecution rate for this offence is very low - the police say they are targeting the criminals responsible but cannot "arrest their way out of the problem". They also say manufacturers and tech firms have a bigger role to play. Victims of the crime have been telling the BBC of the impact it has had on them - ranging from losing irreplaceable photos to having tens of thousands of pounds stolen. And for Akara, like many other people who have their phone taken, there was another frustration: he was able to track where his device went, but was powerless to get it back. He put his iPhone 13 into lost mode when he got home an hour or so later - meaning the thieves couldn't access its contents - and turned on the Find My iPhone feature using his laptop. This allowed Akara to track his phone's rough location and almost immediately he received a notification to say it was in Islington. Eight days later, the phone was pinging in different locations around north London again. In a move he says he "wouldn't recommend" with hindsight, he went to two of the locations his phone had been in to "look around". "It was pretty risky," he said. "I was fuelled by adrenaline and anger." He didn't speak to anyone, but he felt he was being watched and went home. "I am really angry," he said. "The phone is expensive. We work hard to earn that money, to be able to buy the handset, and someone else says 'screw that'." Then, in May, just over a month after the theft, Akara checked Find My iPhone again - his prized possession was now on the other side of the world - in Shenzhen, China. Akara gave up. It is not uncommon for stolen phones to end up in Shenzhen - where if devices can't be unlocked and used again, they are disassembled for parts. Article continues in next post. 1 Like 1 Share
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| Romance › Re: Why Do Skinny Men Like Big Women?(photo) by Cousin9999: 1:29pm On Sep 07, 2024 |
Maybe because they'll take off their wig and deal with people: https://www.youtube.com/watch?v=q4nB42by6M4 But seriously, some dudes just like big girls. |
| Foreign Affairs › Mou Signed To Revitalize TAZARA Railway by Cousin9999(op): 1:15pm On Sep 07, 2024 |
Chinese President Xi Jinping, Tanzanian President Samia Suluhu Hassan and Zambian President Hakainde Hichilema on Wednesday jointly witnessed the signing of a memorandum of understanding (MoU) on the revitalization project of the Tanzania-Zambia Railway Authority (TAZARA) railway. Hassan and Hichilema are in Beijing for the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC), which is taking place from Wednesday to Friday. While meeting with Tanzania's Hassan on Wednesday, President Xi said that China is willing to take the summit as an opportunity to push for new progress in the revitalization project of the TAZARA railway and jointly improve the rail-sea intermodal transport network in East Africa. These efforts will help Tanzania become a demonstration zone for deepening high-quality Belt and Road cooperation between China and African countries, Xi said. The revitalization of the TAZARA railway holds important symbolic significance - it is not only a historical testament to traditional China-Africa friendship but also a key project in promoting regional connectivity in Africa, Song Wei, a professor at the School of International Relations and Diplomacy at Beijing Foreign Studies University, told the Global Times on Wednesday. The 1,860-km single-track railway was constructed through an interest-free loan from China and started operation in 1976. It links Dar es Salaam in Tanzania with New Kapiri Mposhi in Zambia. Song noted that the TAZARA railway has played a crucial role in transporting copper from Zambia to Tanzania for export overseas, significantly contributing to the economic development of both countries. However, the railway has encountered poor management, aging infrastructure and reduced capacity over time, Song said. China has discussed how to update the TAZARA railway and enhance its role in promoting Africa's development. With the signing of the MoU, the three countries can make further efforts in its revitalization, analysts said. Some have proposed developing the TAZARA railway into a tourist project, which would not only attract visitors but also promote Africa's green economic development, providing new growth opportunities for local communities. Song said the TAZARA railway could serve as a pilot to explore how to achieve sustainable operation after a project was handed overed to African countries. In this way, the TAZARA railway could continue to serve as a bridge for China-Africa friendship while offering new momentum for Africa's economic development and China-Africa cooperation, Song said. https://www.globaltimes.cn/page/202409/1319255.shtml
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| Crime › Re: How Chinese Networks Clean Dirty Money On A Vast Scale by Cousin9999(op): 12:34pm On Sep 06, 2024 |
Traffickers in Europe are picking up on this idea, too. In October police in Italy arrested 33 people for alleged involvement in laundering more than €50m ($53m) for drug-traffickers. Among those detained were seven Chinese citizens. An Italian officer in charge of the operation suggested to Reuters, a news agency, that the amount handled by the alleged launderers was probably far greater than the police had managed to detect. Also that month, police in Italy and Spain arrested 78 people for alleged participation in a cannabis-trafficking network. Europol said the syndicate had involved people of several nationalities, including Albanians and Moroccans. Payments for drug shipments were handled by Chinese feiqian bankers. In South-East Asia governments face “unprecedented challenges” from transnational organised crime, according to the UNODC. Ask Singapore, which has been rocked in recent months by its biggest money-laundering scandal. It has involved the seizure or freezing of more than $2bn held in bank accounts or as assets such as luxury properties, cars and gold. This month a court in Singapore sentenced two of ten Chinese citizens (some of them holding other passports as well) who were arrested in connection with the case. The pair have been given terms of 13 months and 14 months in prison. One forfeited assets worth more than $120m. The UNODC says organised crime in the region has flourished thanks to “record levels” of the production of synthetic drugs in the “Golden Triangle” of Laos, Myanmar and Thailand. They have been served by fast-growing underground banking networks that use casinos, online betting platforms and cryptocurrencies to launder the traffickers’ money. China’s efforts to prevent its citizens’ access to all of these (warning, for example, that visiting casinos abroad may be considered illegal by Chinese police) have not ended the problem. “It has never been easier to set up an online casino operation with limited technical expertise and overhead capital, irrespective of gambling laws within a given jurisdiction,” the UNODC said. It is also easy to hook up with the Chinese brokers. Offers of their services abound on social media such as Facebook and WeChat. Underground bankers (often referred to online as chedui, or motorcades) use such internet platforms to recruit people as “money mules”, as those who allow their bank accounts to be used for laundering are known. They often target Chinese students abroad, who may be attracted by commissions and unaware of the risks. In December Europol announced it had identified nearly 11,000 mules and 500 recruiters in 26 countries, leading to the arrest of more than 1,000 people around the world. In 2022 China’s police launched a three-year campaign against money-laundering that has so far brought more than 2,300 people to court. One case, announced in December, involved the arrest of 74 people in 17 provincial-level areas suspected of handling nearly 16bn yuan ($2.1bn) in feiqian-style deals. They allegedly moved money through more than 1,000 bank accounts, each with an average daily turnover of 3m yuan. This is the tip of the iceberg. America says more than $150bn in illicit proceeds moves through China annually. China’s agreement with America to liaise in the fight against money-laundering was announced by America’s Treasury secretary, Janet Yellen, during a visit to Beijing earlier this month. Her country, she said, “cannot do it alone”. She said weaknesses in regulatory regimes in China and other countries were helping criminal gangs involved in everything from human-trafficking to fraud. But even with the best will in the world it would be hard to control a problem so large, complex and easily hidden as money-laundering has become. For officials in two mutually wary countries that have little experience of joint law enforcement, it will be harder still. https://www.economist.com/china/2024/04/22/how-chinese-networks-clean-dirty-money-on-a-vast-scale 1 Like 1 Share |
| Crime › Re: How Chinese Networks Clean Dirty Money On A Vast Scale by Cousin9999(op): 12:32pm On Sep 06, 2024 |
China’s anxiety is evident, too. It worries about the conduit provided by underground banks for evading the country’s strict foreign-exchange controls (capital flight, even by legitimate means, is a persistent headache: see chart). Mainland Chinese are not allowed to send more than $50,000 a year out of the country. For many rich Chinese, that is far from enough. Chinese often turn to illicit financiers not to launder cash, but to move some of their wealth abroad. Such demand is only likely to grow as China’s economy falters. Some of these people are criminals, including corrupt officials who want to park their ill-gotten gains beyond the reach of China’s police. They have cause to be nervous: China’s leader, Xi Jinping, has been waging a war against graft. In 2022 the chief prosecutor’s office said anti-money-laundering efforts were part of “a major national strategy for maintaining the country’s political and financial security”. According to state media, China is working on the biggest changes to its anti-money-laundering law since it came into force in 2007. Several factors are making the problem much harder to deal with. First is the rapid evolution of a centuries-old culture of informal banking based on what is often known as the feiqian (flying money) system. Its origins have nothing to do with crime. It began as a way for traders to settle accounts without the need to carry cash over long distances. Like the hawala system that is popular in the Middle East and South Asia, feiqian depends on trust: a sum of money exchanged between two parties in one location is matched by an equivalent transaction in another. In China feiqian has remained in common use as a way of getting international deals done quickly, without the encumbrance of banks. Chinese workers abroad often use such methods to send remittances home. The near-universal use among Chinese of WeChat, a messaging app that is often linked to people’s bank accounts, has turbocharged the feiqian system. America’s opioid epidemic has given it a further boost. Some of the billions of dollars in cash generated by drug demand is smuggled back, at considerable risk, to the cartels in Mexico. Some is handed over to Mexican money-launderers, who charge high commissions: usually between 8% and 12%, according to Ms Kent and Mr Gay. Chinese launderers provide a much cheaper option, even virtually free. This is made possible both by the feiqian system and the huge needs of Chinese wanting access to dollars. The Chinese money-launderers take the drug money and sell it for yuan at a high profit: feiqian enables a buyer in America to send the specified equivalent in yuan from their bank account in China to one or more accounts in China controlled by the launderers. With no money crossing borders, this kind of swap is extremely difficult for America’s investigators to spot. The sums are often broken up into smaller amounts that do not draw the attention of China’s enforcers, either. The yuan in China may then be used there to buy goods that are shipped to Mexico and sold for pesos that are handed over to the cartels. The Chinese brokers arrange delivery of the pesos nearly instantly after the receipt of the dirty dollars. “They are very, very efficient at what they do,” says Laurence Howland, a former investigator at Britain’s tax agency. Article continues in next post. 1 Like |
| Crime › How Chinese Networks Clean Dirty Money On A Vast Scale by Cousin9999(op): 12:31pm On Sep 06, 2024 |
IT IS RARE these days for America and China to co-operate on anything. As The Economist went to press, America’s secretary of state, Antony Blinken, was on a trip to China, in part to press his hosts to stop sending weapons-related materials to Russia’s defence industries. He will be lucky to get a polite smile. So it is noteworthy that the two countries have recently decided to boost mutual support in another domain: the fight against money-laundering. This month they launched a bilateral forum to discuss the problem. Unlike Russia, it is a big one for both of them. The menace has grown in recent years, fuelled by underground Chinese networks equipped with new technologies that can enable dirty money to be washed clean in minutes. For transnational criminal gangs, these shadowy “banks” are becoming the financiers of choice. Suppressing them requires the two great powers to talk. Amid their political rancour, discussions about money-laundering had been on ice for years. Their resumption marks “a big change, a big positive change”, says an official from America’s Treasury Department. In America the threat is a matter of life and death. In the 12 months to November 2023 more than 105,000 Americans were killed by overdosing on drugs, mainly fentanyl and other synthetic opioids smuggled into the country from Mexico. Chinese underground banks play a crucial role in this by enabling Mexican cartels to launder their proceeds swiftly and at low cost. In a paper published in 2021 by the American Intelligence Journal, Virginia Kent of the State Department and Robert Gay of the National Intelligence University in Maryland wrote of a “bloodless coup” by Chinese money-handling organisations, noting how, in recent years, they have largely displaced home-grown ones in Mexico. The authors called these Chinese operators “a new and more challenging money-laundering foe”. The American government has been sounding the alarm. In its “National Money Laundering Risk Assessment” of 2022, the Treasury Department highlighted the involvement of Chinese illicit finance, saying that drug-traffickers were making increasing use of it. The department’s latest such report, published in February, said that Chinese organisations had since become “more prevalent” and were now among the “key actors” laundering money around the globe. American officials hope that the new money-laundering forum, along with another launched by America and China this year to tackle drug-trafficking, will help fight them. Other authorities have been chiming in, too. In 2019 Europol, the EU’s police agency, said money-laundering by Asian criminal groups, particularly Chinese ones, presented a “growing threat to Europe”. It called the Chinese gangs “extremely flexible”, saying they were handling “substantial proceeds” from a variety of criminal activity. In January the UN Office on Drugs and Crime (UNODC) reported on a “revolution” under way in South-East Asia’s “underground banking architecture”, involving everything from casinos to cryptocurrency. The details it provided suggested that Chinese gangs were at the forefront. Article continues in next post. |
| Foreign Affairs › Us-backed Angola Rail Plan Secures $200 Million From Key Bank by Cousin9999(op): 12:22pm On Sep 06, 2024 |
The Development Bank of Southern Africa has approved as much as $200 million for the US-backed Lobito corridor rail project that will haul critical minerals from central Africa’s copperbelt to an Atlantic port in Angola. “The railway line is part of a broader strategy to support the energy transition by facilitating the export of critical minerals needed for renewable-energy technologies,” Mpho Mokwele, executive for transacting at DBSA, said in a statement Tuesday. “The Lobito corridor is expected to become the most competitive route for exporting these minerals, offering significant cost and time savings for exporters.” The lender is providing the financing alongside the US International Development Finance Corp., which has approved $553 million for the project. A group that includes commodities trader Trafigura Group and Portuguese construction company Mota Engil SGPS SA won a 30-year concession to operate the railway line that links the Lobito port to Angola’s border with the Democratic Republic of Congo. The project is part of a US plan to secure access to critical minerals such as copper and cobalt, while at the same time trying to gain influence in a region that China has dominated. The Chinese government is set to sign a deal this week with Zambia and Tanzania to upgrade and take over the concession for another rail line that links copper mines with the Indian Ocean port of Dar es Salaam. https://www.mining.com/web/us-backed-angola-rail-plan-secures-200-million-from-key-bank/
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| Crime › Re: NY State Official Acted As Undisclosed Agent For China, Laundering Millions by Cousin9999(op): 12:20pm On Sep 06, 2024*. Modified: 12:42pm On Sep 06, 2024 |
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| Travel › Re: Lagos Signs Agreement With Chinese Company For The Green Line Metro Rail by Cousin9999: 12:16pm On Sep 06, 2024 |
| Travel › SE Asia's Scamming Compounds, A Global Human Trafficking Crisis by Cousin9999(op): 11:13pm On Sep 05, 2024 |
Human trafficking-fueled fraud is exploding in Southeast Asia with organized crime rings raking in close to $3 trillion in illicit revenue annually, the head of Interpol has said in comments that reveal the huge profits being earned by cartels. One international organized crime group makes $50 billion a year, according to Interpol secretary-general Jurgen Stock, adding that $2 trillion to $3 trillion of illicit money flows through the global financial system annually. To compare, France’s economy is worth $3.1 trillion according to the International Monetary Fund. While drug trafficking contributes around 40% to 70% of organized crime income, criminal groups are also using those smuggling networks to illegally move humans, arms and stolen products among other things, Stock said. “Driven by online anonymity, inspired by new business models and accelerated by Covid, these organized crime groups are now working at a scale that was unimaginable a decade ago,” Stock told a briefing at the global police coordination body’s Singapore office on Wednesday. “Today, a bank – or indeed anyone – is less likely to be robbed at gunpoint than via a keyboard by someone on the other side of the world. “What began as a regional crime threat in Southeast Asia has become a global human trafficking crisis, with millions of victims, both in the cyber scam centers and as targets.” Interpol says its operations in Asia have led to nearly 3,500 arrests and the seizure of $300 million in illegally earned assets across 34 countries since 2021. Survivor testimonies, NGO campaigning and media reporting over the past three years have increasingly exposed an explosion in online fraud gangs operating in Southeast Asia, many using de facto slave labor to target people across the globe, including the United States. Victims from across Asia are often duped into seemingly legitimate jobs around the region and are then trafficked into scam compounds where they face serious abuse, including forced labor, arbitrary detention, degrading treatment or torture – often with minimal or no help from local authorities. Hundreds of thousands of people are trafficked into online criminality across the region, according to a United Nations report last year. The UN estimated that up to 120,000 people could be held in compounds across Myanmar, which has been plunged into civil war since a 2021 military coup, with another 100,000 people held in Cambodia and elsewhere in conditions that amount to modern slavery. Criminal enterprises also exist in Laos, Thailand and the Philippines, with many of the lucrative online scam operations ranging from illegal gambling, to love scams and crypto fraud. In heavily guarded compounds controlled by local warlords, tens of thousands of people, mainly Chinese, have been trapped and forced by criminal gangs to defraud strangers with sophisticated schemes over the internet. Beijing has pressed Myanmar’s military government to rein in the scam operations, but with limited success. Read more here: https://www.cnn.com/2024/03/28/asia/southeast-asia-interpol-scam-human-trafficking-crime-intl-hnk/index.html 1 Like |
| Food › Re: Cook In Your Kitchen, Take Pictures And Post It Here. SIMPLE! by Cousin9999: 10:39pm On Sep 05, 2024 |
Imagine stalking someone online...finding their pics and posting them...and all because of them posting food. 8 Likes
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| Travel › Re: US: A Good Hustle You Probably Haven't Considered by Cousin9999(op): 10:15pm On Sep 05, 2024 |
tensazangetsu20:I'm not sure what you're trying to suggest here. This is pretty common information in the US, but it may be something that some people who just got to the US or who are outside of it wouldn't think to do. I think part of the reason is they may not realize how easy it is and/or how much money you can make. Furthermore, I haven't offered to sell anyone anything in exchange for providing this information. Though I have considered doing this hustle in the past, I don't do it for the same reason I'm not a mechanic, truck driver, or nurse. It's not something I want to do, or the type of business I'd like to start. But the simple fact that I'm not doing it doesn't mean that it, or being a mechanic/truck driver/nurse, is somehow bad, or that I'm trying to mislead anyone. And you sound ignorant and childish responding to something with "wHy ArEn'T yOu." If you have a specific question about something, ask it. If you have some sort of point to make, state it. 1 Like |
| Celebrities › Re: I Regret Not Doing Fraud – Aremu Afolayan by Cousin9999: 4:58pm On Sep 05, 2024 |
| Travel › US: A Good Hustle You Probably Haven't Considered by Cousin9999(op): 4:46pm On Sep 05, 2024 |
Landscaping, Snow Removal, Junk Removal, and Tree removal. No, it's not glamorous, but this is a great hustle for people in the US, specifically in the northeast and great lakes region. You do need some equipment, and I don't have all the details as far as requirements for a full-on business, but it's not super expensive or complicated. You'll generally need a pickup truck, mower, edge trimmer, hedge trimer, tree trimmer, snow plow, snow blower, dolley, and some other small items. You don't need it all, it depends on what you decide to do. You have a lot of options. If you just want a little side money, you can do small jobs when you feel like it. You can also set up long-term contracts. Even just plowing driveways in a upper class suburb (100USD average for a driveway) pays pretty well. Tree removal makes bank (1200USD average per tree), but it's pretty dangerous. Even when you know what you're doing, it's risky, and you need heavier equipment. Junk hauls (taking old furniture to the dump) pay pretty well (300USD average for a haul), but aren't kind to your body and are pretty risky as well (heavy lifting). But you can easily sell some of this "junk." You can also cheaply repair, restore, and/or redesign it. There are people who make serious money doing this, enough to buy a big house, put their kids through college, and get some nice cars. They basically set up their business (business structure, insurance, etc), get a bunch of heavy equipment, hire family members, get some Mexicans/Guatemalans/etc. (dirt cheap labor), and get solid long-term contracts. No mystery there. |
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