THINGS YOU MAY HAVE MISSED – MARCH 17

17th March 2018

FORMER TONGA PM LORD TU’IVAKANO ARRESTED

ABC News in Australia on 2nd March reported that Tonga Police have arrested a former prime minister, Lord Tu’ivakano, and charged him with numerous offences relating to passport fraud, bribery and money laundering.  It quotes Pesi Fonua, the publisher/editor of Matangi Tonga, who says the nature of the charges are very vague but linked to a decades-long investigation into the sale of Tongan passports.

http://www.abc.net.au/news/programs/pacific-beat/2018-03-02/former-tonga-pm-lord-tuivakano-arrested-by-police/9504142

IN-TRANSIT FREIGHT FINANCE: THE WHY AND HOW FOR LEVERAGING EVERY CONTAINER

Benesch Attorneys at Law in a briefing on 16th March explains the mechanics of lending against in-transit freight.  Shippers often own goods sourced abroad well before the freight reaches a destination port of entry. Commercial terms of sale, such as the Ex Works (EXW), can transfer title and risk of loss from the foreign supplier to the shipper even before the goods leave the country of origin.  Lenders may lend against this in-transit freight just as if it were domestic inventory, provided that reporting provides sufficient visibility and the legal relationships to the freight offer recourse in the event of default.  Shippers and lenders balance these interests by negotiating workflows that establish lender rights to the freight while permitting the uninterrupted movement of freight.  The article says that in-transit freight financing achieves the practical effect of conceptually extending the walls of a large shipper’s warehouses as far as the supplier’s door, provided that it is well-structured and documented across all relationships; and is most advantageous for global supply chains with high volumes of inbound freight and long transit times due to the relative magnitude of freight that may be in transit at any given time.

https://www.jdsupra.com/legalnews/in-transit-freight-finance-the-why-and-60388/

BACK TO SCHOOL: RESOURCES ON HISTORY AND POLICY OF WMD

The Nuclear Threat Initiative (NTI) has resources for students and professors interested in the history, theory, and policy surrounding weapons of mass destruction and disruption.  These include “The Basics” – educational tutorials were developed on the following subjects to help build understanding on the often complex and interrelated issues surrounding WMD – including an introduction to missiles and other WMD delivery systems.  Recommended starter for those new to proliferation (and proliferation financing).

http://www.nti.org/newsroom/news/back-school-resources-students-and-professors-history-and-policy-wmd/

WHAT IS THE DIFFERENCE BETWEEN AN ICBM AND OTHER MISSILES?


ballistic-missile-categories_BRAZIL: MULTIMILLION SCAM INVOLVING BITCOIN

BTC Manager on 17th March reported that Police authorities in Rio De Janeiro have uncovered financial irregularities amounting to $13,625,901 in a food contract for prisons across the city. It is the first case in Brazil where analysis has indicated that the accused used bitcoin to siphon money instead of regular currency.  Felipe Paiva, the alleged mastermind is said to have been doing this since 2001, when his company, Induspan, was hired by the Brazilian government.

https://btcmanager.com/brazilian-authorities-uncover-million-dollar-scam-involving-bitcoin/

PROLIFIC CYBERCRIMINAL SUSPECTED OF SPREADING RANSOMWARE ARRESTED BY POLISH POLICE

Europol reported on 17th March that Polish police, in close co-operation with the Belgian Federal Police and Europol, has arrested a Polish national, known online as “Armaged0n”, who is suspected of having encrypted several thousands of computers and having committed a series of online attacks on various Polish companies between 2013 and 2018. The detainee will have to answer to 181 charges in court, including money laundering and computer fraud.

https://www.europol.europa.eu/newsroom/news/prolific-cybercriminal-suspected-of-spreading-ransomware-arrested-polish-police

ISLE OF MAN UPDATES ITS UKRAINE SANCTIONS

On 16th March, a news release advised that the Isle of Man had followed the UK and 36 entries subject to sanctions in the Island have had their details amended.

https://www.gov.im/news/2018/mar/16/european-union-sanctions-ukraine-sovereignty-and-territorial-integrity/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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