The NCA has released the annual report that covers a longer time period than previous reports, spanning the 18 months between October 2015 and March 2017 inclusive, as the the SARs Regime Committee decided in March 2016 to attempt to harmonise the SAR reporting period with the financial year. Future SAR Annual Reports will cover the April to March period.
On 25th May, the Department for International Trade published updated details of arms embargoes, trade control restrictions, defence export policies and restrictions on terrorist organisations.
https://www.gov.uk/guidance/current-arms-embargoes-and-other-restrictions
On 26th May, Reuters reported that one of the most radical proposals in the programme of Italy’s new anti-establishment coalition is to issue securities to pay individuals and companies who are owed money by the state as payment for services or as tax rebates. The article provides some questions and answers about the so-called “mini-BOT” – the name coined for Italy’s short-term Treasury bills.
On May 14th, Australian law firm Nyman Gibson Miralis published an article which began by saying that criminals may be drawn to money laundering through real estate due to the fact that it is relatively uncomplicated and requires little expertise. It then went on to describe briefly 10 methods by which money could be laundered.
On 23rd May, the Seychelles government issued a news release that said that Seychelles undertook to conduct its first NRA in 2016, in preparation for the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Mutual Evaluation, which was finalised in 2017. Its first draft report was received in February 2018. A summary of the NRA has been published and detailed contents have been made available to respective agencies.
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