Another day another fake news article from Jon Shapiro at AFR.
First it was the rehash of "old news" the Ownership Matters article. Any sophisticated investor would simply dilute the share count from the issue of performance shares (which by the way was voted on and approved by OTE shareholders in 2014, prior to the ISX acquisition)
Next it was the deceptive reporting of a private shareholder dispute as somethow creating a potential liability for the listed ISX. Um, no. That was just good old fashioned sloppy and mischievous reporting by Shapiro and his mates at Fairfax.
Then it was digging through the court documents of the warring private shareholders with the groundbreaking story that the party complaining about not getting their share of the performance shares claimed the ISX tech didn't work back in 2015. Yawn. Stock rallied 10pc as the market woke up to the AFR fake news.
Now is it the fake news of some transactions originated through an ISX client through the KAB remittance network being reported as suspicious. Um, THIS SHOULD HAPPEN!! That is actually good governance and oversight. And 26 transactions out of the thousands that would have been processed - well maybe there should be more. This is fake news trying to slur ISX and its issue of performance shares. The response of the CEO John Karantzis on Linkedin is exactly as it should be - "we cant comment on this because its against the law to do so". The rules on this are pretty clear:-
https://www.austrac.gov.au/business/how-comply-guidance-and-resources/reporting/suspicious-matter-reports-smrThe only company I can think of that does extend credit/remittance and does not report SMR to the regulator is .... AFTERPAY. Which is of course is a breach of Australian anti money regulations.
AND TODAY THE INTERIM REPORT FOR AUSTRAC'S AUDIT OF AFTERPAY'S "PROCESSES" IS DUE
So AFR shame on you for your poor one sided fake news on ISX.
Today's article = nothing more than click bait.
