One common example is the use and sale of fraudulent and stolen credit cards by terrorists, who also sell such cards to conventional criminals for use in various kinds of financial scam.

An Eddie in Los Angeles sent me an email asking if I wanted to serve on the advisory board to his new hedge fund. Eddie s accompanying flattery aside, I would normally trash such a letter, figuring it was a fraud or scam of some kind.

But it is instructive to recall that many of those now universally admired rules were fiercely resisted when first proposed. The options backdating scandal that recently caught Apple s chairman, Steve Jobs, is a microcosm of innovation, prosecution, and reform now that a rule has been written to prohibit backdating, this particular scam will not happen again.

Staff reporter Cai Changchun. Legal Daily learned from the Ministry of Public Security today that a series of cross border telecommunication network scams was uncovered in an action under the command of the Ministry of Public Security entailing the police from Xiangyang, Hubei going to Malaysia, and with the cooperation of the Royal Malaysian Police. It was a fairly typical Taiwanese telecommunication network scam.