The UN Office for Disarmament Affairs has published an Occasional Paper which summarises the main findings and implications of the first empirical study investigating the scale and scope of arms trafficking on the dark web. It is claimed that the findings of this study shed light on the scale and scope of arms trafficking on the dark web, illustrating the range of weapons traded, their market price and most common transit routes. In addition, it discusses the implications of this growing phenomenon for law enforcement agencies and policy makers, highlighting the key role that firearms control measures continue to play in the presence of new forms of trafficking.
On 23rd October, Eversheds Sutherland published the latest edition of its booklet which summarises key financial crime related legal and regulatory changes expected over the next 18 months to 2 years, as well as providing electronic links to key resources.
The comprehensive subject matter includes –
- FCA is proposing to add a chapter on insider dealing and market manipulation to the Financial Crime Guide and also make a number of general changes as a result of recent regulatory changes to ensure the guide remains up to date;
- The Home Office is committed to publish an asset recovery action plan in response to a Public Accounts Committee. The asset recovery plan will set out how the UK is responding to the challenges involved in improving the recovery of the proceeds of crime;
- Criminal Fraud (Private Prosecutions) Bill 2017-19. A Private members’ Bill, it makes provision about private prosecutions in cases of suspected criminal fraud in certain circumstances; and for connected purposes. The Commons 2nd Reading scheduled for 26th October;
- The Law Commission consultation on AML closed on 5th October;
- The Law Commission public consultation on reforming the law of search warrants closed in September and the response from the Law Commission is awaited; and
- The consultation on the draft Registration of Overseas Entities Bill, which sets out provisions to establish a new beneficial ownership register of overseas entities that own UK property to be maintained by Companies House, closed on 17th
On 23rd October, The Lawyer published an article from Carey Olsen about the recently
introduced the Micro Business Companies Act (MBC Act) – bespoke and innovative legislation designed towards developing and supporting the ever-burgeoning micro/small business market – and typically characterised as being smaller style unsophisticated, non-financial sector corporate entities or structures usually having one owner and perhaps a handful of employees. The MBC are generally given a broad remit in terms of capacity and powers to carry on their business activities subject to certain restrictions. It is permitted to issue no more than 6 shares in total consisting of 1 “principal” share and a maximum of 5 “investor” or “participant” shares. Turnover should not exceed $2 million, and the gross value not exceed $2 million.
On 23rd October, Intergame published a video interview about the new rules from the UK Gambling Commission that come into force from October 31st. The changes to licence condition and codes of practice covers 5 main points –
- operators will be required to abide by UK advertising codes which are written by the committees of advertising practice and enforced by the Advertising Standards Authority;
- operators will be held fully accountable for the actions and behaviours of third parties, including affiliates;
- operators will be required to comply with consumer law, particularly in relation to online promotions and the withdrawal of customer funds;
- operators will be required to introduce better complaint handling processes and we’re introducing a new 8-week limit for the resolution of customer complaints; and
- operators will be required to ensure that they don’t spam UK consumers by electronic means.
On 23rd October, a news release from Jersey announced that the law just put forward –
- would preserve Jersey’s power to impose EU sanctions and would also allow Jersey to impose UK sanctions made under the UK Sanctions and Anti-Money Laundering Act after the UK leaves the EU: meaning Jersey would retain the ability to impose the same sanctions as the UK following Brexit; and
- would also bring together several other laws relating to the freezing of assets, including the Terrorist Asset-Freezing Law 2011 and the United Nations Financial Sanctions Law 2017.
Reuters on 23rd October reported that Australia has placed travel and financial sanctions on 5 top Myanmar military officers – Aung Kyaw Zaw, Aung Aung, Maung Maung Soe, Than Oo and Khin Maung Soe, following similar moves by the EU and US.
A news release from the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) on 22nd October reported that the latest edition in the EMCDDA Papers series is concerned with captagon and understanding the illegal market for the drug, and what is currently known about the captagon phenomenon in order to assist those working in the illicit drugs field who may need to respond to the issue. Captagon was originally the brand name for a medicinal product containing fenetylline (fenetylline was placed under international control in 1986) produced since the 1960s and serving licit markets in Europe and the Middle East. Sold in tablet form, it was prescribed as a treatment for conditions such as attention deficit disorder and narcolepsy, but it is no longer produced or used for therapeutic purposes. Traffickers started producing tablets containing other substances, especially amphetamine, which were then sold as ‘captagon’ on markets for stimulants in the Middle East – and it is reported to be a commonly used stimulant in the Middle East and seizures have been increasing in a number of Middle East countries (particularly Israel, Jordan and UAE). Production now seems to be largely in the Middle East.
The report is available at –