Dear Shareholder,
ISX hasmade it clear multiple times that we do not offer services to unlicensedbinary operators who target Australians.
ASIC’s wintoday is a win for the sector and ISX, as unlicensed operators drag licensedoperators, unsuspecting customers and their suppliers (like ISX & thebanks) down.
Thisjudgment actually strengthens ISX's business case, as a further source ofillegal traffic is shut down, with a clear message sent by the court.
What themedia do not want to understand is that money laundering cartels andcriminals are only defeated by a strong customer due diligence (aka KYC) regimeand transaction monitoring.
The “KYC” service ISX offers to licensed AFSL holders is provided in order to helpAFSL holders to meet their compliance requirements. A strong KYC regimeprotects the community from Westpac and CBA style money laundering issues.Without it, paedophiles (ref Westpac) and drug cartels (ref CBA) getaccess to the global banking network.
CBA, NAB,Westpac, Bendigo, Citibank, Allianz are all defendants in the court actionreferred to in the Age/SMH story. Yet ISX, who doesn’t get a mentionanywhere in this case, gets the headline!
Forthose that are curious, and looking for a link (any link) to ISXin the case, be my guest……. the judgment is attached.
Licensingand enforcement is the jurisdiction of ASIC. ISX relies uponASIC enforcing the law, and, as I said hours earlier in my LinkedIN post,we welcome ASIC prosecuting illegal operators.
https://www.linkedin.com/posts/njkarantzis_judgment-davies-j-federal-court-vid848-activity-6630707929714647040-jGKP
I alsoattach our 4C again from last week, in case the media missed it on Friday.
ISX providea valuable service to the community with our KYC service, which wouldhave defeated both Westpac and CBA money laundering issues at their source.
Thankingyou for your support.
Regards
N J (John) Karantzis
CEO - iSignthis Ltd (ASX : ISX || FRA : TA8)
