Pacnet | pacnet.com
Pacnet provides integrated network services and data center platforms for carrier and enterprise.
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Pacnet was founded in 01/2008 and its headquarters is located in Taikoo Shing, Other, HK. Pacnet has $134.2M in revenue and 428 employees. Pacnet's top competitors are PCCW Global, Automated Systems and M1.
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Tan Tong Hai
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|Pacnet: Paciolan's Pacnet Starts Today in OCIs your box office person posting pictures of sunny skies while you freeze your arse off back home? Have you noticed Newport Beach's Fashion Island has been taken over by collegiate logo bearing millennials in golf shirts and khakis? No, it's not a SWAC lacrosse tournament that's taken over the Marriott- it's PacNet, one of the [...]The post Paciolan's Pacnet Starts Today in OC appeared first on Amplify.Amplify|
|Pacnet: Retired MLB Pitcher and Olympic Gold Medalist Jim Abbott to Give Keynote Address at PACnet'18IRVINE, Calif., Dec. 14, 2017 (GLOBE NEWSWIRE) - Jim Abbott, All-American athlete, gold-medal Olympian, and retired Major League Baseball pitcher, will present the Tuesday afternoon keynote address at Paciolan's annual PACnet community conference. The conference will be held Feb. 11-14, 2018, at the Newport Beach Marriott Hotel & Spa in Newport Beach, California. His accomplishments ...The post Retired MLB Pitcher and Olympic Gold Medalist Jim Abbott to Give Keynote Address at PACnet'18 appeared first on ForexTV.ForexTV|
|Pacnet: Best-Selling Author Nathalie Nahai to Give Keynote Address at PACnet'18IRVINE, Calif., Nov. 30, 2017 (GLOBE NEWSWIRE) - Paciolan today announced Nathalie Nahai, web psychologist and best-selling author, will present the Tuesday morning keynote address at its annual PACnet community conference. The conference will be held Feb. 11-14, 2018 at the Newport Beach Marriott Hotel & Spa in Newport Beach, Calif.A photo accompanying this announcement ...Continue reading "Best-Selling Author Nathalie Nahai to Give Keynote Address at PACnet'18"Military Technologies News|
|Pacnet: Pacnet seeks to repay clients, Bord na Mona's US plans and five-star profits at Dublin's Fitzwilliam hotelIrish Canadian payments processor Pacnet says it is working to ensure clients can access their cash following the flisting of sanctions against it by US authorities. Pacnet says that designating it as a crime organisation was wrong in the first place and effectively forced it out of business. Its general counsel, Paul Davis, confirmed that it is taking all possible steps to ensure clients' cash is returned to them.State energy company Bord na Móna will shortly seek Government approval for its plan to spend €60 million building a wood pellet factory in the US. The proposed plant in Georgia would turn willow trees into pellets to be exported to the Republic as fuel for electricity generators.Profits at the hospitality group which owns Dublin's five-star Fitzwilliam Hotel rose 18 per cent to more than €4 million last year. Barry O'Halloran also reports on figures for Fota Wildlife Park, which recorded a seven percent rise in visitor numbers in 2016, to 465,281.Lender First Auto has agreed a €30 million deal with the Irish distributor of French car brand Citroen. Established by former Irish Permanent chief executive Billy Kane, First Auto is backed by, amongst others, the State-owned Irish Strategic Investment Fund and private equity player Pimco.In the aviation world, IAG boss Willie Walsh says there is no shortage of airline pilots, despite the recent flight cancellations at rival Ryanair. His comments came as the latest figures reveal IAG airline Aer Lingus had nearly €1 billion in cash last year. Meanwhile Norwegian Air International is still considering whether it will begin flying from Cork to New York.In his column this week Chris Johns writes that in Britain, ignorance of history and zero appetite for the details of European law have combined to produce the current chaos. On the issue of a potential hard border, he fears for the worst.Finally, Pilita Clark meets with the boss of a firm that monitors employees for client firms, and explains how tracking staff can boost revenue - and why we should be worried.THE IRISH TIMES|
|Pacnet: Pacnet working to refund clients after US authorities lift sanctionsIrish Canadian payments processor Pacnet says it is working to ensure clients can access their cash following the lifting of sanctions against it by US authorities.The US Treasury's Office of Foreign Assets Control (Ofac) recently confirmed that it has dropped Canada- and Shannon-based Pacnet from a list of transnational crime organisations, ending sanctions against it that had been in place for a year.Pacnet says that designating it as a crime organisation was wrong in the first place and effectively forced it out of business. Its general counsel, Paul Davis, confirmed that it is taking all possible steps to ensure clients' cash is returned to them.Ofac's move last year froze its US accounts and barred anyone in that jurisdiction from doing business with Pacnet. Following this, banks and finance institutions in other countries also froze funds held by the company for its clients.Pacnet recently asked a New York court to hold $5.2 million in client funds. The specific proceeding that the company took, known as an interpleading, means that Pacnet itself has no claim over the cash.Instead, the company has asked the court to hold the money as both its clients or the US government may argue that they have a right to it. Mr Davis explained that it would be up to the court to adjudicate on any claims.Not 'culpable'He noted that it also means that the court acknowledged that Pacnet was not "culpable" for the money; in other words, if the cash had been connected with some wrongdoing, Pacnet itself was not responsible.The company does not have a final estimate of final amount due to clients. The figure may be up to $15 million. Pacnet had 500 banking relationships around the world, according to Mr Davis.Pacnet had hundreds of clients, including the New York Times subscription service, Bloomberg Business Weekly, the Catholic archdiocese of Durban and American Airlines and Mastercard Gateway Payment Services.Ofac used a controversial power, based on an executive order by former US president Barack Obama, that allows the office to designate businesses as crime organisations where they pose a threat to US citizens or its economy.The office said that Pacnet companies were handling cash on behalf of mail fraudsters that were using various schemes to dupe vulnerable people out of their money.However, in a deposition used in the interpleading hearing, Pacnet points out that Ofac's grounds for this were vague and that the company was given a redacted version of the report on which the office based its actions.Compliance unitThe deposition also states that Pacnet's own compliance unit provided hundreds of suspicious transaction reports to the US authorities. It notes that facts and records available to the Washington authorities directly contradicted Ofac's claims.The office's move put the company out of business, with the loss of 120 jobs, including around 20 in the Republic. "It was utterly devastating, it was wrong and it was unconstitutional," Mr Davis said.The group's attorney in the US, A Jeff Ifrah, recently told a trade publication that the US Treasury got it wrong and that the speed at which the group and those connected with it were dropped from the Ofac list implied this.The Judicial Review Commission on Foreign Assets Control, whose members are appointed by the US Senate and House of Representatives, has already recommended that the controversial power used in the Pacnet case be subject to safeguards.THE IRISH TIMES|
|Pacnet: Pacnet says false claims by US authorities wiped out its businessIrish-Canadian payments processor Pacnet says US authorities wiped out its business by wrongfully claiming that the company was laundering money from schemes used to dupe people out of cash.The US treasury's powerful office of foreign assets control (Ofac) last year designated Canada- and Shannon-based Pacnet Group as a "significant transnational criminal organisation", freezing its US assets and barring anyone there from doing business with it.Ofac confirmed it had dropped Pacnet from its list of transnational crime organisations, ending sanctions against it. But Irish executive Gerry Humphreys declared the company should never have been listed in the first place."Our business has been obliterated, and they had absolutely no grounds for designating us. We were never involved in criminal activities," Mr Humphreys said.More than 120 people, 20 of them in the Republic, lost their jobs as Pacnet, which handled credit and debit card payments and cheques for 700 organisations, was forced out of business.Its clients included the New York Times subscription service, the Catholic archdiocese of Durban and American Airlines.Pacnet's US lawyer, Jeff Iffrah, told trade publication the Daily Litigant that the speed at which Ofac had taken the group off its blacklist implied the treasury knew its original sanction had been wrong.In September 2016, the office originally named 24 Pacnet companies, some based in the Republic, along with 12 people, including Mr Humphreys and in-house counsel Paul Davis, on its list.The US authorities alleged Pacnet was laundering cash for mail fraud scams such as those where people are asked to pay to process fictitious lottery wins.Ofac dropped sanctions against most of the individuals early this year and delisted the companies last month. Experts say it normally takes two years for the office to do this.Pacnet has asked a New York court to hold $5.2 million in clients' funds, frozen since last year, so customers themselves can apply directly to have it returned to them. Mr Humphreys estimated there is €8 million in all due to larger customers.Pacnet is not ruling out legal action, although Mr Humphreys acknowledged that taking on any arm of the US government could take a lot of time.A US treasury spokesman noted that Pacnet had agreed to dissolve all its businesses. He said that, after a review, Ofac had determined that the circumstances surrounding the designation of Pacnet had changed, and that it should no longer be included on the list of criminal organisations.Ofac sanctioned Pacnet using a powers granted by former US president Barack Obama. Mr Iffrah pointed out that a review by leading judges recommended that those powers be subject to safeguards.THE IRISH TIMES|
|Press Release: Pacnet : Ifrah Law Announces PacNet Officers Removed from OFAC ListWASHINGTON--(BUSINESS WIRE)--Today the U.S. Treasury Department's Office of Foreign Assets Control removed PacNet's CEO Rosanne Day, General Counsel Paul Davis, and Gerard A. Humphreys from its list of specially designated foreign nationals. OFAC has now acted to remove from its list of specially designated nationals all 12 employees and officers of PacNet who previously had been included on the list. Following is a statement by George Calhoun of Ifrah Law, attorneys for PacNet: "The officers aBusiness Wire|
|Pacnet: US set to drop sanctions against Irish person in Pacnet inquiryUS authorities are likely to end sanctions against at least one more Irish person connected to payments group Pacnet, which has been at the centre of a money-laundering investigation since the autumn.The US department of the treasury designated Canadian-headquartered payments processor, Pacnet, as a criminal organisation following claims that it laundered money from schemes used to dupe people out of cash.The department's office of foreign assets control recently removed the names of a number of Irish-based individuals linked to Pacnet subsidiaries in the Republic from a special designation list which barred US residents from doing business with them and froze any assets they may have held in the US.It is understood that following consultations with Pacnet's lawyers, the office is likely to drop at least one more Irish resident from its specially designated nationals' list. A total of 12 people connected to the payments group were listed after the investigation began last autumn.The US treasury confirmed that late last month, following a review of information available to it, the office removed former Pacnet directors Siobhán Hanrahan and Donna MacBain from its list of specially designated nationals.They no longer met the criteria for designation. Both have resigned as Pacnet directors and no longer work for the group. Neither had US properties or assets. It delisted two other former Pacnet directors, Estelle Snyman and Brian Weekes in February following a similar review.Change of circumstancesThe office considers a number of factors when it comes to removing individuals from its specially designated nationals' list. These can include a change of circumstances, such as the fact that someone no longer works for, or is a director of, a designated organisation.Generally the office conducts an investigation to establish whether those on the list continue to meet the criteria for designation. That inquiry includes corroborating statements made by the individuals involved.It can take up to two years for the office to remove an individual from the list, but it dropped the Pacnet directors's designation within five months of placing them on it in the first place, which experts say is unusually fast.Pacnet hired lawyers to act for it and its directors once the investigation began last year. It is understood that the Irish-based individuals believe that the office went beyond its powers in placing them on the list in the first place. Contacts between the sides are ongoing.IRISH TIMES|
|Pacnet: Spectra by Comcast Spectacor Announces Client Community Awards From Annual PACnet '17 Conference / Playhouse Square, NHRA, Ole Miss recognized as Star of the Year award winners, Mississippi State University acknowledged as Rookie of the Year and CincinnaIRVINE, CA -- (Marketwired) -- 02/28/17 -- Spectra by Comcast Spectacor today announced its Ticketing & Fan Engagement division has recognized five clients as recipients of its annual awards from ...FinanzNachrichten|
|Press Release: Pacnet : Spectra Ticketing & Fan Engagement Announces John Wentzell as Pro Sports/Arenas Keynote at PACnet '17 ConferenceNewly-appointed President of Spectra Venue Management and Food Services & Hospitality to address Spectra communityMarketwired|
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Pacnet provides integrated network services and data center platforms for carrier and enterprise. Pacnet was founded in 01/2008. Pacnet's headquarters is located in Taikoo Shing, Other, HK . Pacnet has an estimated 428 employees and an estimated annual revenue of 134.2M.
Visit the Pacnet website to learn more.