OTHER THINGS YOU MAY HAVE MISSED – JUNE 5

TRUMP ADMINISTRATION AND CONGRESS TO TIGHTEN INVESTMENT RESTRICTIONS & EXPORT CONTROLS TO ADDRESS TECHNOLOGY TRANSFER CONCERNS

On 5th June, Baker McKenzie issued an alert saying that the Trump Administration and the US Congress are tightening investment restrictions and export controls to address technology transfer concerns.  These measures initially focus on China, but will have broader effects on investments in the US and transfers of emerging technologies. The article says that the investment and export control measures are to be announced by June 30th, and “implemented shortly thereafter”.  The Administration is apparently considering restricting a broader range of technology transfers than that related to defense or “dual-use” items, the traditional focus of US export controls. The view expressed is that the Administration will likely use the International Emergency Economic Powers Act of 1977, which is the statutory basis for most US sanctions programmes, and appears to be contemplating using the model of sanctions – in that case, persons subject to US jurisdiction would likely be prohibited from involvement in targeted China-related investments into the US.  The article also cautions that Congress is finalising legislation, the Foreign Investment Risk Review Modernization Act (FIRRMA), that would expand the scope of national security reviews of foreign investments in the US and make mandatory for the first time declarations for some foreign investments, and require the Administration to assess and regulate “emerging” and “foundational” technologies under existing export controls.

http://bakerxchange.com/rv/ff003c73e80ef8a7921d936cd449b87fef131887

US TREASURY SANCTIONS VIOLENT COLOMBIAN COCAINE TRAFFICKING ORGANISATION

On 5th June, the US Treasury issued a news release saying that OFAC had identified the Rincon Castillo drug trafficking organization (Rincon Castillo DTO), its leader, Colombian drug trafficker Pedro Rincon Castillo (aka Pedro Orejas), and a key Colombian criminal associate Horacio de Jesus Triana Romero as significant foreign narcotics traffickers.  7 additional Colombian individuals were designated for providing material support to or acting on behalf of the Rincon Castillo DTO. OFAC further designated 7 Colombian companies that are owned or controlled by the designated individuals or the Rincon Castillo DTO.  

https://home.treasury.gov/news/press-releases/sm0403

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180605.aspx

LEADERS OF CEO FRAUD GANG ARRESTED

On 4th June, OCCRP reported that Israeli and French authorities arrested 4 suspected leaders of a crime group responsible for impersonating executives of companies and ordering employees to wire company money to bank accounts owned by the group.   Europol said that the group was responsible for 24 cases of such “CEO fraud” in Europe that caused over €18 million of damage.

https://www.occrp.org/en/daily/8163-europol-leaders-of-ceo-fraud-arrested

WHO AND EU CLASH WITH TOBACCO INDUSTRY OVER PLAIN PACKAGING EFFECTIVENESS

EurActiv on 5th June carried an article saying that the industry says plain packaging has no visible impact on smoking rates while it opens the door to black markets.  On the contrary, the WHO insists on the effectiveness of the measure and rules out any link to illicit trade. From its side, the EU has adopted a “wait and see” approach, expecting 2.4 million fewer smokers over a five-year period of the new Tobacco Product Directive (TPD) implementation.  New research conducted by consultancy group Europe Economics showed that the introduction of plain packaging has had no statistically significant impact on smoking prevalence in the UK and on consumption in the UK. WHO told EURACTIV that in Australia there was evidence showing that plain packaging clearly contributed to the overall decline in smoking there.

https://www.euractiv.com/section/health-consumers/news/who-and-eu-clash-with-tobacco-industry-over-plain-packaging-effectiveness/

SOUTH AFRICAN POLICE SEIZE DOCUMENTS FROM MTN OVER TURKCELL ALLEGED BRIBERY CASE

Reuters on 5th June reported that South African police have seized documents from the offices of mobile phone operator MTN Group after Turkey’s Turkcell launched a lawsuit over a disputed Iran licence.  Turkcell alleges that the South African mobile company used bribery and wrongful influence to win a lucrative Iran license originally awarded to Turkcell. MTN rejects the allegations.

https://af.reuters.com/article/investingNews/idAFKCN1J11UE-OZABS?feedType=RSS&feedName=investingNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FAFRICAbusinessNews+%28News+%2F+AFRICA+%2F+Business+News%29&src=ilaw

BELGIAN POLICE DETAIN 13 IN TENNIS MATCH-FIXING PROBE

AFP on 5th June reported that Belgian police held 13 people in an investigation into match-fixing in tennis, prosecutors said, barely a month after a major independent report warned of a “tsunami” of corruption in the lower levels of the sport.  Officers swooped on 21 addresses in Belgium while simultaneous raids were launched on properties in the US, Germany, France, Bulgaria, Slovakia and the Netherlands as part of an international probe into an Armenian-Belgian criminal network suspected of bribing players to throw games.  Belgian prosecutors said the matches involved were on the low-level Futures and Challenger circuits, away from the gaze of television coverage and where prize money is low enough that players are susceptible to backhanders.

https://www.afp.com/en/news/23/belgian-police-detain-13-tennis-match-fixing-probe-doc-15m59y3?src=ilaw

UK BRIBERY ACT 2010: POST LEGISLATIVE SCRUTINY MEMORANDUM

On 4th June, the MoJ issued a news release saying that the Bribery Act 2010 was commenced on 1st July 2011 and replaced an old and outmoded mix of common and statutory law and was designed to provide the courts, prosecutors and investigators the tools they needed to tackle bribery in the UK and overseas in the 21st Century.  The MoJ has now issued a document which deals with the origins of the Act, its provisions, implementation and enforcement and provides a preliminary assessment of its performance against the policy drivers that informed its content. This memorandum is published to assist in the post legislative review of this legislation by the House of Lords select committee for the review of the Bribery Act 2010.

https://www.gov.uk/government/publications/bribery-act-2010-post-legislative-scrutiny-memorandum

SCOTTISH MAN CHARGED AFTER SEIZURE OF 3.6 MILLION CIGARETTES

Talking Retail on 5th June reported that HMRC has charged a 58-year-old man after an estimated 3.6 million suspected illicit cigarettes were seized in the Gartcosh village of North Lanarkshire.  The cigarettes, worth an estimated £1.3 million in lost duty and taxes, were discovered in a 20-foot container after Police Scotland executed a warrant at a business address.

https://www.talkingretail.com/news/industry-news/scottish-man-charged-seizure-3-6m-cigarettes-05-06-2018/

BVI PLANNING CHALLENGE TO UK’S BENEFICIAL OWNERSHIP LAW

Tax News on 4th June reported that the government has appointed legal counsel to advise on a potential challenge to the UK’s move to force its Overseas Territories to set up publicly accessible registers containing information on the beneficial ownership of legal entities.

https://www.lowtax.net/news/BVI-Planning-Challenge-To-UKs-Beneficial-Ownership-Law_76811.html

LITHUANIAN MAN HAS BEEN JAILED AFTER ATTEMPTING TO SMUGGLE ECSTASY WORTH AROUND HALF A MILLION POUNDS INTO NORTHERN IRELAND

An NCA news release on 4th June reported that Lukas Urbutis, 25, a Lithuanian national living in Dundalk, Republic of Ireland, was arrested by NCA officers on 11th September, following a raid on a property in Newry.  The operation, which was supported by the PSNI, followed the seizure of a package containing almost 10 kg of crystalised MDMA by Border Force officers at a courier depot near Belfast. The drugs had been sent in the post from the Netherlands.

http://www.nationalcrimeagency.gov.uk/news/1377-jail-for-man-who-used-parcel-courier-to-smuggle-ecstasy-into-northern-ireland

REPORT – NORTH KOREA WANTS US TO HELP IT BUILD AN INTEGRATED RESORT CASINO IN EXCHANGE FOR CONCESSIONS ON ITS NUCLEAR PROGRAMME

Calvin Ayre on 5th June reported that South Korean media outlet reported that Kim Yong Choi, a top aide to North Korean dictator Kim Jong-un, had suggested the US help finance a plan for a casino in a proposed international tourist destination in the Wonsan-Kalma coastal region.

https://calvinayre.com/2018/06/05/casino/north-korea-america-funding-casino/

MOLDOVA TO EASE CITIZENSHIP REQUIREMENTS FOR INVESTORS   

OCCRP on 4th June reported that the Moldovan parliament is divided over proposed amendments that would allow wealthy investors to bypass certain requirements in the citizen application process.  The new alterations to citizenship law initiated by the ruling pro-European Democrat Party would no longer oblige such investors to learn the official language or study the constitution, and would also no longer reveal the first or last names of those persons and their families granted citizenship through investment (CBI).

https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/8159-moldova-to-ease-citizenship-requirements-for-investors

IMMINENT CHANGES TO AUSTRALIAN RULES FOR FOREIGN FINANCIAL SERVICE PROVIDERS

Allen & Overy on 4th June published a briefing saying that the Australian Securities and Investments Commission has released a consultation paper in respect of potential reforms of the law applying to Foreign Financial Service Providers (FFSP), broadly foreign licensees who deal with Australian institutional clients.  The proposals represent a significant change to the existing regime, including a new licensing regime, which will replace the existing “passporting” regime currently allowing FFSP to provide services to Australian clients by complying with the laws in their home jurisdiction.

http://www.allenovery.com/publications/en-gb/Pages/Imminent-changes-to-Australian-rules-for-foreign-financial-service-providers–.aspx

DIRECTORS’ DUTIES: CAN A DIRECTOR BE LIABLE EVEN IF NOT FORMALLY APPOINTED?

On 5th June, The Lawyer carried an article from law firm Walker Morris that reported that 2 recent cases in the UK High Court have explored the differences between de jure, de facto and shadow directors and looked at when individuals, whether formally appointed as directors or not, can be held responsible for breach of their directors’ duties.

https://www.walkermorris.co.uk/publications/directors-duties-can-a-director-be-liable-even-if-not-formally-appointed/#

RUSSIAN BILLIONAIRE ART COLLECTOR “TO SUE BRITISH AUTHORITIES OVER ‘VANDALISM’ OF ANTIQUES”

RT on 5th June reported that a Russian billionaire art collector, Alexander Ivanov, one of the richest art collectors in the world and the owner of the most expensive Faberge eggs, has threatened to sue Border Force over allegations that it lost and damaged precious pieces from his unique £600,000 collection of antiques while they were confiscated at Heathrow Airport back in 2013.

https://www.rt.com/uk/428666-russian-oligarch-hmrc-antiques/

TRACE PODCAST: FOOTBALL DREAMS

In the latest free TRACE podcast, Sebastian Abbot, author of “The Away Game;  The Epic Search for Soccer’s Next Superstars,” talks about Qatar and the biggest soccer talent search in history, as well as the darker side of recruiting for the sport.

https://www.traceinternational.org/bribe_swindle_or_steal

WIFE OF EX-MALAYSIA PM QUESTIONED, NEW GRAFT SCANDAL UNFOLDS

Baker McKenzie on 5th June reported that anti-corruption investigators questioned the wife of former Malaysian Prime Minister Najib Razak about alleged theft and money-laundering involving the 1MDB state investment fund, as officials announced a probe into other suspicious multibillion-dollar transactions under Najib’s leadership.

http://www.riskandcompliancehub.com/wife-of-ex-malaysia-pm-questioned-new-graft-scandal-unfolds/

THE LATEST RESOURCES ON NORTH KOREA FROM NTI AND CNS

The Nuclear Threat Initiative (NTI) has provided resources to better understand North Korea’s nuclear programme, created by NTI and the James Martin Center for Nonproliferation Studies (CNS).  The resources include the CNS missile test database, an infographic illustrating North Korea’s missile capabilities, 3D missile models, B-roll of North Korea’s latest missiles, a country profile, articles and more.

http://www.nti.org/newsroom/news/NTI-and-CNS-latest-resources-on-north-korea/

EU ADVOCATE GENERAL OPINION ON BANK MELLAT SANCTIONS CASE

On 4th June, the European Sanctions Blog reported an opinion from the Advocate General stating that the ECJ should in his view uphold the General Court’s judgment of June 2016 rejecting Bank Mellat’s challenge in case T-160/13 to the non-targeted parts of the EU’s former Iran sanctions regime.  Bank Mellat was seeking to challenge the wider restrictions on Iranian banks that had been imposed by EU sanctions pre-JCPOA.

https://europeansanctions.com/

http://curia.europa.eu/juris/document/document.jsf?text=&docid=202349&pageIndex=0&doclang=EN&mode=lst&dir=&occ=first&part=1&cid=161528

ORGANISED CRIMINALS BRIBING UK PHARMACISTS AND WHOLESALERS TO DIVERT PRESCRIPTION-ONLY MEDICATION

An old article, but on 1st February Illicit Trade reported that an investigation conducted by the MHRA has revealed that organised criminal gangs are bribing pharmacists and wholesalers to supply them with prescription drugs illegally.  In a statement, the agency said it made 40 arrests linked to the diversion of legitimate pharmaceutical products last year, including 5 pharmacists, who have been suspended from practice.  The MHRA estimates that prescription medication worth as much as £200 million was diverted from official supply chains to illicit markets between 2013 and 2016, placing many thousands of vulnerable people at risk.  Prescription-only drugs including benzodiazepines, anxiolytics such as Diazepam and Zopiclone and the painkiller Tramadol were the focus of the MHRA probe.

https://www.illicit-trade.com/2018/02/organised-criminals-bribing-uk-pharmacists-wholesalers-divert-prescription-medication/

PANAMA ADOPTS FURTHER RETALIATORY MEASURES AGAINST VENEZUELA

On 10th April, Panama approved further measures against Venezuela with the suspension, for a period of 90 days (a period which may be extended) of all activities of air transport, passengers and cargo of Venezuelan airlines operating in Panama.  In March, Panama had included Venezuela in a list of countries that apply discriminatory or restrictive measures to the international economic and commercial interests of the Republic of Panama (the full list is Brazil, Chile, Colombia, Ecuador, El Salvador, Perú, Uruguay, Venezuela, Croatia, Slovenia, Estonia, France, Greece, Lithuania, Poland, Portugal, Cameroon, Georgia, Russia, Serbia).

https://www.presidencia.gob.pa/en/News/Panama-adopts-retaliatory-measures-against-Venezuela-

 

WELSH COUNCIL SECURES £1.6 MILLION CONFISCATION OVER TEETH WHITENING PRODUCTS

Local Government Lawyer on 4th June reported that Powys County Council has secured a £1.6 million confiscation order against 3 family members who were prosecuted for selling unsafe teeth whitening products. The 3 from Knutsford were prosecuted in 2016. The 2 men were sentenced to 18 months in jail in September 2016 while a woman was jailed for 6 months, suspended for 2 years.  Powys’ Trading Standards Service last month secured a proceeds of crime order against them at a hearing at Caernarvon Crown Court. This was after a financial investigation into the criminal benefit that the family had made from their illegal teeth whitening activity. The Crown Court was told that the three defendants had made £2.5 million from their criminality.

http://www.localgovernmentlawyer.co.uk/index.php?option=com_content&view=article&id=35522%3A2018-06-02-21-46-30&catid=190&Itemid=122

 

PUTIN SIGNS COUNTER-SANCTIONS IN RESPONSE TO US SANCTIONS ON RUSSIA

Jurist on 5th June reported that the counter-sanctions give Putin the right to ban trade from countries found to be hostile to Russia and to cut ties with such countries.  It is said that the counter-sanctions are not as strong those originally drafted by Russian legislators. Originally, the sanctions were intended to apply to many US goods, such as food and medicine.  However, businesses feared such sweeping sanctions would harm Russia’s economy and deter foreign trade.

http://www.jurist.org/paperchase/2018/06/putin-signs-counter-sanctions-in-response-to-us-sanctions-on-russia.php

 

JAMAICA APPEAL COURT LEAVES UNCERTAINTY OVER $150 MILLION SEIZED UNDER PROCEEDS OF CRIME ACT

The Gleaner on 5th June reported that a ruling by the nation’s second highest court has placed in limbo some 40 cases involving close to $150 million in cash that has been seized by the Financial Investigations Division (FID) under the Proceeds of Crime Act (POCA).  The Court of Appeal, in its unanimous, made it clear that the wrong procedure is being used before the Parish Courts to confiscate cash under POCA.

http://jamaica-gleaner.com/article/lead-stories/20180605/appeal-court-leaves-fid-limbo-ruling-creates-uncertainty-over-150m?src=ilaw

 

US MONEY MANAGEMENT FIRM SETTLES WITH JUSTICE DEPARTMENT IN LIBYAN BRIBERY PROBE

The Seattle Times on 5th June reported that a Baltimore-based money management firm has settled a DoJ probe of an affiliate that managed investments for the Gadhafi Libyan government.  Legg Mason is said to expect a $71 million settlement with the DoJ covering financial penalties and other costs. A separate settlement with the SEC is expected soon.

https://www.seattletimes.com/business/firm-settles-with-justice-department-in-libyan-bribery-probe/?src=ilaw

 

$585 MILLION FINE FOR SOCIETE GENERALE SA IN FIRST CO-ORDINATED SETTLEMENT OF A LIBYA BRIBERY CASE BY US AND FRANCE

On 5th June, Bloomberg carried a quote saying that the 50/50 split between the countries, shows the US desire to have France be part of the anti-bribery fight.  The article says that US authorities haven’t been shy in fining foreign companies — especially French ones. By contrast French regulators have been notoriously slow and ineffective in their pursuit of international corruption.  Societe Generale – France’s second-biggest bank – paid bribes through a broker to secure the investments from various Libyan state institutions, according to the bank’s admissions detailed in a statement from the DoJ.  In total, SocGen paid the Libyan intermediary more than $90 million.  As a result of the scheme, the bank obtained investments and one restructuring that earned it profits of approximately $523 million, the DoJ said.

https://www.bloomberg.com/news/articles/2018-06-05/socgen-s-585-million-joint-fine-puts-france-on-anti-bribery-map?src=ilaw

 

EU AMENDS ENTRIES ON NORTH KOREA AND ISIL/AL-QAIDA SANCTIONS LISTS

On 4th June, the EU published EU Regulation 2018/814/EU which replaced the entry for WEIHAI WORLD-SHIPPING FREIGHT in its North Korea sanctions lists.  See also EU Council Decision 2018/819/CFSP. Meanwhile, EU Regulation 2018/816/EU replaced the entry for Djamel Lounici (alias Jamal Lounici) in its ISIL/Al-Qaida sanctions lists.

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2018.137.01.0001.01.ENG&toc=OJ:L:2018:137:TOC

HM Treasury advised of a change to its lists on 4th and 5th June –

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/714029/Notice_ISIL_2018_816.pdf

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/713692/DPRK_2018.814.pdf

 

OTHER THINGS YOU MAY HAVE MISSED – JUNE 4

AML AND FRAUD IN AUSTRIA

On 1st June, Austrian law firm Knoetzl published a briefing on the current position and recent developments concerning AML and fraud laws in Austria, including the Beneficial Owners Register Act, which came into force on 15th January.

https://www.lexology.com/navigator#!results/43/view

BLACKBURN MAN CAN APPEAL TOBACCO SMUGGLING EXTRADITION TO ITALY

The Lancashire Telegraph on 4th June reported that High Court judges have ruled that Marek Lewicki can appeal against an order to extradite him to Italy where he faces a prison sentence, having been convicted in his absence by a criminal court in Naples in October 2015 with 11 others of organising a criminal cross-border tobacco smuggling organisation to avoid tax.  Any appeal would be strictly limited to the abuse of process argument in relation to the ultimate order to extradite the applicant in respect of all the offences set out in the European Arrest Warrant.

http://www.lancashiretelegraph.co.uk/news/blackburn/16267002.Blackburn_man_can_appeal_tobacco_smuggling_extradition_to_Italy/

TURKS & CAICOS STEPS UP FIGHT AGAINST FINANCIAL CRIME

On 4th June, the Turks & Caicos Weekly News reported that, according to a recent excerpt from the Caribbean Financial Action Task Force (CFATF) website, the territory has drastically improved its money crime prevention regime.  It has been subject to scrutiny under the CFATF International Country Risk Guide (ICRG) review for years and has recently submitted a 13th follow-up report on its efforts to combat money laundering.  Although the Turks and Caicos Islands is no longer subject to the ICRG monitoring process, its compliance with international standards on money laundering and financial crime will still be reviewed. Last year the territory undertook pre-assessment training in preparation for its mutual evaluation assessment by the CFATF in line with  FATF procedures.

http://tcweeklynews.com/tci-steps-up-fight-against-financial-crime-p8753-127.htm

CAMPAIGN AGAINST MONEY LAUNDERERS LEADS TO 20% DROP IN FINES

Lawyer Monthly on 30th May reported that the number of fines handed out in the UK for money laundering and terrorist financing rule breaches has fallen 20% in the last year as tougher enforcement delivers a wake-up call, anti-money laundering according to big data specialist, FortyTwo Data.  The article provides brief highlights from HM Treasury on SAR received 2015/17.

https://www.lawyer-monthly.com/2018/06/campaign-against-money-launderers-leads-to-20-drop-in-fines/

VANCOUVER REAL ESTATE AGENT FACING MONEY LAUNDERING CHARGES IN US

On 3rd June, the Vancouver Sun reported that a former Metro Vancouver realtor who has allegedly been leasing luxury properties to “gangsters” in British Columbia is behind bars in the US charged with international money laundering.  Omid Mashinchi, 35, appeared in a Boston courtroom last month and was remanded in custody. US authorities allege that he wired hundreds of thousands of dollars in drug money over several months last year to banks in Massachusetts through one of his company’s accounts, and knew the funds involved “represented the proceeds of crime” and “that such transportation, transmission and transfer was designed in whole or in part to conceal and disguise the nature, the location, the source, the ownership and the control of the proceeds of specified unlawful activity”.  It reports that Mashinchi has started at least 3 companies in British Columbia since 2006, all related to the real estate industry.

http://vancouversun.com/news/staff-blogs/real-scoop-ex-realtor-charged-in-us-with-money-laundering

CAYMAN MARITIME AND AVIATION SERVICES PARK

Cayman Finance on 4th June published an article saying that the Government has recently granted legislation allowing the addition of offshore aviation services to the Cayman Enterprise City (CEC) special economic zone which consists of 6 business parks.  The addition of the aviation park is, it says, expected to be instrumental in further diversifying Cayman’s economy and will assist in growing its client base. The Aviation Services Park joins the maritime sector within CEC to create the Cayman Maritime & Aviation Services Park (CMASP).  It is envisioned that CMASP will create the largest transportation services group in the region which will attract international maritime and aviation service businesses to set up a physical presence in Cayman. With this expansion, the CMASP can now include aircraft owners and brokers, technology companies and startups focused on aviation research and development, aircraft manufacturing and repair businesses, head offices of aviation industry businesses, companies that provide management consultancy and any other specialised services relating to the aviation industry.

http://www.mondaq.com/article.asp?articleid=707008&email_access=on&chk=1667832&q=960824

THE SCOURGE OF TRAMADOL ABUSE – NOT JUST IN NIGERIA

ENACT Africa on 21st May published an article which says that the use of tramadol as a recreational drug is on the rise across Central Africa.  The illegal trade and non-medical abuse of this synthetic opioid poses alarming risks for health and security. Health practitioners are faced with the dilemma of restricting the availability of this normally legal medicine to curb the abuse; or jeopardising access to pain treatment for legitimate patients.  When abused for non-medical purposes, it can pose various health risks. Ingested with other drugs or alcohol, tramadol use can lead to central nervous system depression, coma, tachycardia, cardiovascular collapse, seizures and respiratory arrest.

https://enactafrica.org/enact-observer/the-scourge-of-tramadol-abuse?utm_source=BenchmarkEmail&utm_campaign=May_Newsletter&utm_medium=email

UK ZIMBABWEAN ARRESTED OVER “FAKE TEA” KHAT

Zimeye on 5th June reported that a UK-based Zimbabwean is one of 2 people arrested over fake “tea” that turned out to be khat drug.  Arrested in Zimbabwe, it is alleged that the khat was destined for the UK.

https://www.zimeye.net/2018/06/05/uk-zimbabwean-arrested-over-fake-tea-khat/

DEPORTED DRUG BOSS JAILED FOR NEW £63 MILLION HEROIN HAUL IN UK

The Times on 5th June reported that a Turkish “crime lord” deported from Germany for drug running moved to the UK and set up one of Britain’s biggest smuggling rackets in a Derbyshire market town.  Fikri Yarasir was jailed for 10 years in 1997 for importing heroin into Frankfurt from Turkey.  He then moved to Glossop where he opened Yummies, a pizza takeaway, and began smuggling again. He was caught and jailed for 25 years in April.

https://www.thetimes.co.uk/article/deported-drug-boss-fikri-yarasir-jailed-for-new-63m-heroin-haul-2lkvxbh5l

LEBANON DETAINS ITALIAN AS ONE OF COCAINE SMUGGLING GANG

Urudupoint on 4th June reported that Lebanon has detained an Italian who was part of a group smuggling cocaine hidden in alcohol bottles through international airports and into Lebanon.  He was arrested on arrival from Paraguay, and was one of 8 foreigners involved in the trafficking operation.  Authorities also detained 2 Lebanese nationals for selling and transporting the drugs.  The group of 4 Italians, 2 Brazilians, an Argentinian and a German “specialised in smuggling large quantities of cocaine into Lebanon“. The cocaine was mixed with liquids and put in alcohol bottles in duty-free bags from a foreign airport.

https://www.urdupoint.com/en/world/lebanon-detains-italian-over-cocaine-smugglin-363031.html

 

TRANSACTION LAUNDERING – MONEY LAUNDERING GOES ELECTRONIC IN THE 21ST CENTURY

Finextra on 5th June carried a blog post about “transaction laundering”.  It says that electronic money laundering, also known as transaction laundering, is the most common, but least enforced , method of money laundering.  The principle is simple: an unknown online business uses an approved merchant’s payment credentials to process credit card transactions for unknown products and services.  It says that research has shown that transaction laundering for the online sales of products and services reaches over an estimated $200 billion a year in the US alone. Of this, $6 billion involves illicit goods.

https://www.finextra.com/blogposting/15423/transaction-laundering—money-laundering-goes-electronic-in-the-21st-century

 

NEW OFAC UKRAINE/RUSSIA GENERAL LICENSE

On 4th June OFAC issued Ukraine-/Russia-related General License 16 which authorises US persons to engage in specified transactions related to winding down or maintaining business involving EN+ Group PLC, JSC EuroSibEnergo, or any entity in which EN+ Group PLC or JSC EuroSibEnergo owns, directly or indirectly, a 50% or greater interest, until October 23rd.  

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180604.aspx