FORMER EU COMMISSIONER’S DAUGHTERS IN ALLEGED PONZI SCHEME
The Times of Malta and Malta Today carry the story about the daughters of former EU Commissioner John Dalli appearing in court charged with involvement in a Ponzi scheme targeting evangelical Christians. Louise Dalli and Claire Gauci Borda, along with 4 foreigners – Eloise Marie Corbin Klein, Charles Ray Jackson, Elizabeth Jean Jackson and Robert Mitchell McIvor – are facing charges of money laundering, misappropriation of funds, fraud, making a false declaration to a public authority and the falsification and use of documents. Gauci Borda is also charged with breaching the Money Laundering And Financing Of Terrorism Act and with failing to carry out her professional duties as an accountant and auditor. According to Malta Today, The scheme, first reported by assassinated journalist Daphne Caruana Galizia in 2015, was allegedly run by Eloise Marie Corbin Klein, operating under a number of aliases. The journalist had reported her as having conned elderly Christians out of some $600,000 by posing as a missionary and convincing them to invest their savings into a bank account that ostensibly was to be used for an African mining project. But instead, the money was funnelled into 2 Maltese companies – Tyre Ltd and Corporate Group – owned by Louise Dalli and Claire Gauci Borda
MONEY LAUNDERING FEARS IN CANADIAN CASINOS
The Globe & Mail in Canada reports on ongoing inquiries into suspected money laundering using casinos in British Columbia. On 8th January it reports that people identifying their occupations as “student” or “housewife” make up an unusually large share of of high-rolling gamblers, after gaming officials audited a year’s worth of transactions at a single casino – Richmond’s River Rock Casino – looking for patterns that could shed light on money laundering by organised crime. Among the report’s findings were housewives whose bets were flagged as unusual because of the amount of cash they were bringing in, sometimes with stacks of bills in small denominations. One student alone bet $819,000 over the course of the year.
CEO OF DIGITAL CURRENCY “DISAPPEARS” WITH INVESTORS’ MONEY
On 8th January, Zero Hedge carried a story from the New York Post saying that investors in a cryptocurrency designed for watching live-streaming porn called Fantasy Market, claimed that its CEO (Jonathan Lucas, who had seeking up to $25 million in 2017) had disappeared with their money — affecting the Fantasy Market tokens, or FMtokens.
ALLEGED LIBYA-SARKOZY MIDDLEMAN ARRESTED AT HEATHROW
On 8th January, Euronews reported that police had arrested French businessman Alexandre Djouhri at Heathrow Airport in connection witha corruption probe involving ex-French President Nicolas Sarkozy. Djouhri is suspected of being the middleman between Sarkozy and the late Libyan leader Muammar Gaddafi, and funding for Sarkozy’s 2007 election campaign, and of involvement in laundering the money. The allegations first emerged from Gaddafi’s son, Saif al-Islam when he was detained in 2011, but Djouhri has repeatedly refused to appear in a French court and Nicolas Sarkozy has denied taking covert funding from Libya.
BOAT-MAKERS AND USE OF BURMESE TEAK
On 8th January, Superyacht News reports that both Princess Yachts and Sunseeker have provided clarity on a statement circulated by The Environmental Investigation Agency (EIA), a UK-based organisation that investigates and campaigns against environmental crime and abuses. The statement had suggested that Sunseeker and Princess Yachts were among a number of companies that have been unwittingly supplied with illegally-sourced Burmese teak from Myanmar on board their vessels. EIA alleges that there have been breaches of the European Union Timber Regulation – though that only regulates the act of “first placement”, so there is no implication that Sunseeker and Princess Yachts are guilty of, and they have in no way been accused of, actually breaching the Regulation themselves.
http://www.superyachtnews.com/business/princess-and-sunseeker-respond-to-eia
For information on the Regulation which prohibits the placing on the EU market for the first time of illegally harvested timber and products derived from such timber; and requires EU traders who place timber products on the EU market for the first time to exercise ‘due diligence‘ – see –
http://ec.europa.eu/environment/forests/timber_regulation.htm
FACILITATION PAYMENTS BAN IN CANADA
McInnes Cooper on 17th November published a article reminding one that, w.e.f. October 31st, “facilitation payments” contravene Canada’s Corruption of Foreign Public Officials Act (CFPOA), and that all of the sweeping amendments to the CFPOA are now in force. Canadian companies (particularly those doing business beyond Canadian borders) cannot delay updating or implementing an anti-corruption compliance programme, as the legal exposure of violating the CFPOA is too great and the consequences too serious.
UZBEK ANTI-CORRUPTION REFORMS
On 8th January law firm Dentons published a briefing saying that as Uzbekistan seeks to attract more foreign investment, the government has recently introduced a number of anti-corruption reforms. 3 lawyers from Dentons’ Tashkent office have written the Anti-Corruption chapter for Uzbekistan as part of the 2018 edition of the Chambers Global Practice Guides.
CANADA HAS MANY EXPORT CONTROLS/ECONOMIC SANCTIONS LISTS
On 5th January Lex Sage published an article containing a table detailing lists of which an exporter needs to be aware. Canada has made many lists and you may have to look at more than one list before exporting goods. Which lists you must look at depends upon the destination country, the identity of buyer (including related parties), what specifically you are selling to your buyer (the good and its component parts), and the industry in which your buyer operates. The lists include –
- Area Control List – countries to which exports of all goods and technology is prohibited unless licensed.
- Export Control Lust – goods, technology and technical data that cannot be exported/re-exported without an export licence, including dual-use goods, nuclear non-proliferation, missile and chemical/biological weapon-related.
- Automatic Firearms Country Control List (AFCCL) – unique to Canada, countries to which residents of Canada may sell and export certain firearms if licensed to do so.
- Economic Sanctions: Listed Persons Lists – aka Designated Persons Lists, re UN or national sanctions.
- Economic Sanctions: Targeted Goods, Technology and Services List – re UN or national sanctions.
- Economic Sanctions: Targeted Sectors/Industries List – List of sectors and/or industries or government units targeted by UN or national economic sanctions.
- Terrorists List
- Magnitsky Sanctions List – foreign officials who have committed gross human rights abuses or have engaged in corrupt activities.
- Corrupt Foreign Official Asset Freeze List
- Controlled Nuclear Substances List
- Ozone-Depleting Controlled Substances List
- Cultural Property Export Control List
BETTING MISCONDUCT IN SPORT – TENNIS AND CRICKET
On 29th December, law firm Shepherd Wedderburn Business of Sport group turned their attention to tennis and cricket in its series of articles focussing on gambling in sport. This follows on from previous bulletins on betting misconduct in football and snooker and the FA’s termination of sponsorship deals with betting companies. It concludes that further investment in resources, prevention programmes and education is absolutely necessary to ensure governing bodies stay on top of the corruptive practices that risk damaging the integrity and enjoyment of sport.
https://shepwedd.com/knowledge/betting-misconduct-sport-tennis-and-cricket
GLOBAL ANTI-CORRUPTION AND ANTI-BRIBERY LAWS: COMPARISONS TOOL FOR SELECTED JURISDICTIONS
Dentons has provided a useful and interesting, free to use online tool that allows one to view the bribery and anti-corruption legislation etc for a wide range of jurisdictions. It is designed to let you know: what conduct is prohibited? Is it an offence both to bribe and be bribed? To whom does the law apply? Are gifts, hospitality and facilitation payments allowed? What are the penalties? Are deferred prosecution and/or non-prosecution agreements available in the jurisdiction? One can also compare one to jurisdiction to one or two others – for example, comparing the UK to France and Germany. It also provides links to statutory text and law enforcement resources.
CRIME, FRAUD AND INVESTIGATIONS 2018: 5th MONEY LAUNDERING DIRECTIVE
On 3rd January law firm Simmonds & Simmonds published a briefing saying that, with implementation of the 4th ML Directive still ongoing, 2018 should see the finalisation of further changes to the EU’s AML framework. It says that negotiations between EU bodies over the proposed 5th ML Directive continue into 2018, but look near to completion. The proposals involved include enhanced CDD, monitoring of transactions through virtual currencies, misuse of anonymous prepaid cards, information sharing between FIU to be broadened, enabling FIU to request information from obliged entities, and changes affecting beneficial ownership registers.
RUSSIA’S FAR EAST INITIATIVES – NEW OPPORTUNITIES FOR BUSINESS?
On 24th November Baker McKenzie issued a briefing saying that Russia’s Far East has attracted a total of $55 billion in investments in the past 3 years, largely as a result of a wide-ranging programme of incentives introduced by the government. The briefing provides an overview of the key incentives available to foreign investors who are increasingly active in the region’s numerous business projects.
http://www.bakermckenzie.com/en/insight/publications/2017/11/opportunities-newsletter
DIRECTORS’ DISQUALIFICATION – A GROWING THREAT IN THE UK
On 8th January, law firm Ashfords produced a briefing stating that in the UK director’s disqualification is nothing new – the current legislation (the Company Directors Disqualification Act) dates back to 1986. However, there are an ever increasing number of corporate offences that can rest with a director personally, which in turn raises the spectre of being disqualified. It says that sentencing guidelines direct the prosecution and the court to specifically consider making a disqualification order.
https://www.ashfords.co.uk/article/directors-disqualification-a-growing-threat
THE UK’S NEW ANTI-CORRUPTION STRATEGY: 5 PRACTICAL CHANGES
Burges Salmon LLP has published an article that says that the UK government has published its new strategy in respect of anti-corruption policies and actions over the next 5 years. The briefing outlines the 5 key things you need to know, and the 6 priorities set by the government, and changes include improving SAR – upgrading capabilities (including IT) and making the necessary legislative, operational and technical changes; implementing all key elements of the Criminal Finances Act, including Unexplained Wealth Orders, by the end of April 2018; and extending corporate criminal liability to wider economic crimes from just bribery and tax evasion.
https://www.burges-salmon.com/news-and-insight/legal-updates/the-uks-new-anti-corruption-strategy/
EU REGULATION IMPLEMENTS UN SANCTIONS CHANGES FOR NORTH KOREA
EU Regulation 2018/12/EU added 16 persons and 1 entity, the Ministry of the People’s Armed Forces (MPAF), to the lists of those subject to an asset freeze and travel restrictions, transposing part of the new sanctions imposed by UN Security Council Resolution 2397. The names can also be found in the UN news release of 22nd December.
Council Decision 2018/16/CFSP –
HM TREASURY NEWS RELEASE ADVISES NORTH KOREAN SANCTIONS CHANGES CONFIRMED
On 9th January, HM Treasury confirmed that the temporary sanctions listings imposed to give effect to the above have now been made permanent.
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/672664/Notice_2018_12.pdf
EFFECTS OF CHINESE BAN ON IMPORTED WASTE
The British International freight Association (BIFA) on 9th January commented on new Chinese restrictions on imported waste, introduced since 1st January, which are set to have significant implications for the international freight transport, logistics and supply chain sectors – particularly for backhaul east-west intercontinental container shipping trades, although the changes are also likely to lead to rising costs to supply chains from higher packaging costs. A spokesman for BIMCO is quoted as saying that waste paper in particular, but also scrap plastics and metal scrap, are among the more significant back-haul cargoes for container shipping lines
https://bifa.org/news/articles/2018/jan/china-s-waste-import-changes-impacting-freight-sector?l=y
$500 MILLION RECOUPED WORLDWIDE FROM TAX CHEATS DUE TO PANAMA PAPERS — BUT NONE IN CANADA
On 9th January, CBC in Canada reported that a dozen governments around the world say they have recovered a combined $500 million in unpaid taxes so far thanks to the Panama Papers leak of tax-haven financial records in 2016. But not a penny of that is destined for Canadian government coffers. The Canada Revenue Agency maintains it will be at least another 2½ years before it will have an idea of how much it might recoup. The stark contrast is fuelling criticism of the CRA’s effectiveness at catching offshore tax cheats, and comes in the wake of a CBC investigation that found few, if any, of the criminal convictions the agency cites in defence of its record actually have anything to do with offshore tax evasion.
SINGAPORE CLARIFIES AML TREATMENT OF VIRTUAL CURRENCIES
Finance Feeds in Singapore reports that a Singapore official has clarified the AML approach re virtual currency transactions. The Deputy PM says that, when it comes to money laundering, Singapore’s laws do not make any distinction between transactions effected using fiat currency, virtual currency or other ways of transmitting value.
1 MILLION CIGARETTES FROM CHINA HIDDEN IN FOOT STOOLS
Border Force on 9th January in a news release revealed that officers discovered the cigarettes in 6 separate seizures between 23rd December and 2nd January. Each consignment was listed as foot stools, but when officers examined the furniture they found hundreds of packets of cigarettes, branded as Lambert and Butler but suspected counterfeit, hidden in the void beneath the cushions. In total, 1,012,800 cigarettes were detected, worth approximately £375,000 in unpaid duty and VAT. All of the consignments came from China.
https://www.gov.uk/government/news/border-force-seize-more-than-a-million-cigarettes-in-manchester
9 INSOLVENCY ADVICE COMPANIES CLOSED DOWN IN UK
CCH Daily reports on 9th January that 9 companies in the UK which claimed to provide services to directors of insolvent companies, have been placed in provisional liquidation following an investigation by the company investigations unit of the Insolvency Service – Rigil Kent Acquisitions Ltd; Rigil Kent Corporate Acquisitions & Turnaround Ltd; Rigil Corporate Rescue Ltd; Rigil Kent Group Ltd; RK Acquisitions Ltd; RK Corporate Rescue Ltd; RK Client Account Ltd; French Fox Ltd; and Dump Your Bust Business Dot Com Ltd. All had registered offices in north London.
https://www.accountancylive.com/nine-insolvency-advice-companies-placed-liquidation
THE UNODC-WCO CONTAINER CONTROL PROGRAMME (CCP)
The UN Office on Drugs and Crime provides a briefing on the CCP. It explains that more than 420 million containers move around the globe by sea every year, transporting 90% of the world’s cargo. Most carry licit goods, but some are being used to smuggle drugs, weapons, even people. The sheer volume of this international maritime container traffic, the sophisticated and often ingenious concealment methods, along with the diverse routings adopted by illicit drug traffickers and other smugglers, invariably makes successful interdiction difficult. Already implemented in Benin, Cape Verde, Costa Rica, Ecuador, Guatemala, Ghana, Pakistan, Panama, Senegal, Togo and Turkmenistan. CCP, launched in 2003, was developed jointly by UNODC and the WCO to assist Governments to create sustainable enforcement structures in selected sea ports in order to minimise the risk of shipping containers being exploited for illicit drug trafficking, transnational organized crime and other forms of black market activity. As well as guidance and training, is the creation of port control units (PCU) at selected container terminals. These units will be located in a secure environment, preferably inside the ports, and staffed by front line personnel who will be trained and equipped to systematically target high risk containers whilst facilitating the free flow of legitimate trade. The PCU will also be equipped to exchange information with counterparts in other countries using a secure communication application developed by WCO called ContainerComm. Under CCP several types of goods have been seized. Since March 2006 more than 36 metric tons of cocaine, 26 metric tons of cannabis and approximately 770 metric tons of precursor chemicals used to produce drugs have been seized.
http://www.unodc.org/unodc/en/drug-trafficking/horizontal-initiatives.html
LARGE-SCALE MAFIA ARRESTS IN ITALY, GERMANY
On 9th January the Washington Post reported that anti-mafia police have seized €50 euros in mafia assets controlled by the ‘ndrangheta’s Farao-Marincola clan and detained more than 160 people in Italy and Germany, accusing them of running a huge mob-controlled empire involving everything from bread and wine sales to funeral services, migrant housing and garbage recycling. https://www.washingtonpost.com/world/europe/italy-nabs-mob-clan-controlling-bakeries-funerals-migrants/2018/01/09/dd0ed2fa-f52b-11e7-9af7-a50bc3300042_story.html?utm_term=.9de5cb109c4a
See also Eurojust news release –
http://www.eurojust.europa.eu/press/PressReleases/Pages/2018/2018-01-09.aspx
BENEFICIAL OWNERSHIPS – RECENT EU & IRISH DEVELOPMENTS
On 8th January, Irish law firm published a briefing saying that developments at the end of 2017 have provided some welcome clarity on the implementation of new rules on beneficial ownership across the EU. These obligations, which will apply in Ireland, will regulate the extent to which beneficial ownership information for applicable Irish entities will be available to the public in the future.
DRONE ATTACK ON RUSSIAN BASES IN SYRIA
RFERL reports on 8th January that Russia claimed 13 armed drones have recently been used to attack its airbase and its naval facility in western Syria. The Defense Ministry that there were no casualties or damage as a result of the attacks on the Hmeimim airbase and Tartus naval facility overnight on 5th/6th January. Other drones were destroyed with short-range anti-aircraft missile systems, it also said, adding that the UAV were carrying foreign, professionally manufactured explosives. The article also said that the UK-based Syrian Observatory for Human Rights said the attacks were carried out by an Islamist rebel faction that operates in Latakia Province, where the Hmeimim base is located, according to the Associated Press news agency.
https://www.rferl.org/a/syria-russia-says-drones-used-attack-bases/28963399.html
NORTH KOREAN NUCLEAR CAPABILITIES 2018
The Bulletin of Atomic Scientists has published an analysis in which the authors “cautiously estimate” that North Korea may have produced enough fissile material to build between 30 and 60 nuclear weapons, and that it might possibly have assembled 10 to 20. North Korea’s nuclear weapons programme has made considerable progress over the years, they argue, including a wide variety of ballistic and powerful nuclear tests; and presumably, if it hasn’t happened already, it is only a matter of time before Pyongyang’s nuclear arsenal can be considered fully functioning. The article describes the various weapons known.
www.tandfonline.com/doi/full/10.1080/00963402.2017.1413062
ELIMINATING THE ICBM — AS PART OF A 21st CENTURY DETERRENCE STRATEGY
Another article from the Bulletin of Atomic Scientists argues that ICBM could, and should be abolished (by the US anyway). They are, it argues, less accurate than submarine-launched ballistic missiles; they are easier for adversaries to target; and because they can plausibly be used only against Russia, they do little to deter prospective nuclear rogue actors. Intercontinental ballistic missiles should therefore be phased out of the US nuclear arsenal beginning no later than 2030. Instead, the article proposes, deterrence should focus on missile defense, intelligence, and conventional long-range strike capabilities – as well as on alliances, partnerships, and institutions at all levels.
http://www.tandfonline.com/doi/abs/10.1080/00963402.2017.1413067?journalCode=rbul20
TYCOON SANCTIONED BY US REVEALS ARMENIAN GOVERNMENT POST
Azatutyun reports that a controversial Russian businessman designated by OFAC for his alleged ties to organised crime has worked as an “adviser” to Armenia’s Foreign Minister Edward Nalbandian, the Foreign Ministry in Yerevan acknowledged. He and 9 others were listed by OFAC, which accused them of joint involvement in “serious transnational criminal activities”. He is based in Sochi in Russia and holds an Armenian diplomatic passport, which the article says raises questions about his ties to Armenia’s government. He said he not affected by the US sanctions as he has no assets in the USA.
https://www.azatutyun.am/a/28965368.html?src=ilaw
CHINESE COURT JAILS 2 FOR LIFE OVER HUGE PYRAMID SCHEME
Reuters reports that a Chinese court has sentenced 2 people, Huang Dingfang and Cai Keyi, to life imprisonment at the Hangzhou Intermediate People’s Court, for fraud in a £1.77 billion pyramid scheme that involved more than 200,000 people.
FORMER ZIMBABWE MINISTER “STILL WANTED IN KENYA”
Mynationnews reports in Nigeria reports that a former minister under Mugabe in Zimbabwe, Jonathan Moyo, is reportedly “still wanted by Kenyan authorities for an alleged $6 million fraud committed in the east African country in 2000”. The website alleges that Moyo had not been cleared of the fraud charges committed while he was programme director for an American-based charity, Ford Foundation.
METROPOLITAN POLICE CONFIRMS LEGAL AID FRAUD INVESTIGATION
On 9th January, the Law Society Gazette reported that the CPS was considering charges following a police investigation into an allegation of fraud referred by HM Courts & Tribunals Service 5 years ago. The Sun newspaper had claimed that there was a £15 million legal aid fraud involved, with 3 judges amongst those being investigated. The Metropolitan Police confirmed that its Operation Falcon Complex Fraud Team was investigating, with 3 people arrested and 9 interviewed under caution.
ISLE OF MAN REGISTRY NAMED BEST GLOBAL AIRCRAFT REGISTRY
Tax News reports on 9th January that the Isle of Man Aircraft Registry has been presented with 2 awards by business-to-business publisher World Commerce Review at its recent 2018 awards. The Registry was named “Best Global Aviation Registry” and “Most Recommended Global Aviation Registry 2018.”
https://www.lowtax.net/news/IoM-Aviation-Registry-Named-Best-Global-Registry-76170.html
UK PARLIAMENTARY COMMITTEE EXAMINES POLICE & INDUSTRY RESPONSE TO ONLINE FRAUD
On 9th January, the Home Affairs Committee of the UK House of Commons examined the police and industry response to online fraud, as part of its inquiry into Policing for the future.
BURMA/MYANMAR: JANUARY 2018 UPDATE
On 9th January the House of Commons Library published an updated Briefing Paper on the situation in Burma/Myanmar, including the role of the Arakan Rohingya Salvation Army (ARSA).
https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-7901
THE NEW SILK ROAD – A PHOTOGRAPHIC FEATURE
A nice feature in the New Yorker on 8th January, with some fascinating photos, about the routing into which China is investing billions, to build pathways to Europe, Central Asia, and the Middle East. It starts by setting matters in a historical perspective, explaining that the original Silk Road was established during the Han dynasty, beginning around 130 BC, with markets and trading posts strung along a loose skein of thoroughfares that ran from the Greco-Roman metropolis of Antioch in the Levant, across the Syrian desert, through modern-day Iraq and Iran, to the former Chinese capital of Xian. It also comments that the “Belt and Road” term used by the Chinese is unhelpful – the “belt” part will be the land routes running from China to Scandinavia, the Iberian Peninsula, and the Middle East; the “road” part refers to shipping lanes connecting China to SE Asia, the Middle East, and Africa.
PODCAST INTERVIEW WITH UN OFFICIAL AFTER HIS VISIT TO NORTH KOREA
The Carnegie Center’s DiploPod podcast series opens 2018 with an interview of Jeffrey Feltman, the UN under-secretary-general for political affairs, to discuss his December 2017 trip to North Korea, the upcoming talks between North and South Korea, and the role of the US in those talks. Feltman was the highest level official from the UN to meet with officials in North Korea since 2010.
CHINESE GENERAL TO BE PROSECUTED FOR CORRUPTION
The Risk & Compliance Hub on 9th January reported that one of China’s former top generals will be prosecuted for bribery. State-run news agency Xinhua reported that former chief of joint staff Fang Fenghui, 66, was suspected of receiving and giving bribes. He was once the youngest commander of a People’s Liberation Army military region, and is a former member of China’s powerful Central Military Commission.
http://www.riskandcompliancehub.com/chinese-military-to-prosecute-former-top-general-for-graft/
RUSSIAN MILITARY ESTABLISHES COUNTER-SANCTIONS UNIT
Janes.com reported on 9th January that Russia has established a special group within the country’s Military-Industrial Commission (MIC) to counter the effects of further US trade sanctions.
www.janes.com/article/76912/russia-establishes-counter-sanctions-unit
GOOD YEAR FOR SERBIAN MILITARY EXPORTS
Janes.com on 9th January also reported that the Serbian defence industry secured new export orders worth about $475 million. Its Defence Minister is quoted as saying it had issued export licences worth around $870 million, a 24% increase compared to 2016. Janes.com reports that the biggest single customer is thought to be UAE, with active contracts worth around $220 million.
http://www.janes.com/article/76914/serbia-reports-another-good-year-for-defence-exports
UPGRADING EU COMPANY LAW FOR DIGITAL SOLUTIONS AND CROSS-BORDER OPERATIONS
The EU Parliament research think tank published a briefing on 9th January in anticipation of the European Commission being expected to publish a legislative proposal on an EU company law package on 16th January, potentially addressing digitalisation, cross-border mergers, divisions and conversions, as well as rules on conflict of laws related to company law. EU company law is partially codified in Directive (EU) 2017/1132 relating to certain aspects of company law but, the paper notes, problems linked with legal certainty, administrative burden, unnecessary costs for companies resulting in lack of transparency or ineffective protection of companies, still remain.
http://www.europarl.europa.eu/RegData/etudes/BRIE/2018/611014/EPRS_BRI(2018)611014_EN.pdf
HOW TO SEARCH THE ICIJ OFFSHORE LEAKS DATABASE BY LOCATION
ICIJ, which was behind both the Panama Papers and Paradise Papers, published on 9th January the first of 3 articles on ways to search its Offshore Leaks Database that now includes more than 680,000 entities from 55 jurisdictions.
For the past several years, it says, ICIJ has updated the Offshore Leaks Database with data from different leaks of information on offshore companies, as well as corporate registries from several “secrecy” jurisdictions. The full dataset is searchable and available to download.
One way to explore the more than 680,000 entities, explained in a step-by-step way in this first instalment, is to use the jurisdictions and countries associated to these companies and their officers.
https://www.icij.org/blog/2018/01/offshore-leaks-database-tips-location-geogrpahy/
NORTH KOREA’S NEWEST SPECIAL ECONOMIC ZONE (SEZ)
The North Korean Economy Watch website has published an article about the decision in December to establish Kangnam Economic Development Park near Pyongyang. It reports that North Korea announced 14 new SEZ in 2013, 7 in 2014, and 3 in 2015. None were announced in 2016 aand this is the first SEZ to be announced in 2017, and it was announced just a day after the UN Security Council voted to tighten sanctions on the country. The article guesses that the site “aspires to be a manufacturing/ processing/ shipping hub built on the Taedong River”. It seems that evidence of much effort at many of the SEZ has been apparent, with a focus on Rason Economic and Trade Zone and Wonsan-Mt. Kumgang International Tourist Park – though these both affected by ongoing and tightening sanctions. Given this, perhaps it might be expected that the article’s author said that the latest news had been a surprise.
http://www.nkeconwatch.com/2017/12/23/kangnam-economic-development-park-announced/
UK POLICE SEIZE BITCOIN WORTH AROUND $300,000
KYC 360 reported on 9th January that Leicestershire Police had seized 26 bitcoins and other assets worth £1 million from an individual allegedly linked to an ongoing money laundering investigation.A police spokesman told KYC360 that the East Midlands Special Operations Unit had assisted the force with recovering the bitcoin and also assessing it’s value, which is estimated to be around $300,000.
https://kyc360.com/news/uk-police-seize-bitcoin-worth-300000-money-laundering-investigation/
US TERROR THREAT ASSESSMENT HIGHLIGHTS RISE IN HOMEGROWN EXTREMISM
In the US, Homeland Preparedness on 9th January reported that 4 US citizens were arrested and charged with providing material support to ISIS in December, marking an increrase in the number of cases of homegrown terrorism, according to an assessment released by the House of Representatives Homeland Security Committee. The “Terror Threat Snapshot” indicates that 2 of the people arrested volunteered to carry out attacks on behalf of ISIS. The article reports that 150 alleged homegrown terrorists have been arrested in the US since 2013.
AIRLINE STAFF CAUGHT SMUGGLING CASH IN INDIA
KYC 360 on 9th January reported that a female flight attendant of Jet Airways, an Indian airline, and another man have been arrested for allegedly trying to smuggle nearly $500,000 in foreign exchange out of India. The woman was on a Jet Airways flight from Delhi to Hong Kong when she was caught with the money in her luggage.
https://kyc360.com/news/jet-airways-india-flight-attendant-held-smuggling-money/
HMRC’s TOP 10 CRIMINAL CASES OF 2017
KYC 360 on 9th January also carried a report on 5 of the 10 most significant tax fraud and organised crime cases dealt with by HMRC in 2017. These included a £100 million fake “green” investment scheme, a £46 million wine smuggling fraud, and a £17 million excise duty fraud carried out by Polish criminals with illegal tobacco manufacture.
https://kyc360.com/news/uk-hmrcs-top-ten-criminal-cases-2017/
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