A probe by the Nigerian Senate into whether state oil firm NNPC improperly withdrew money expanded with the amount under investigation doubling to over $2.2 billion, a committee said. The Senate voted to probe withdrawals of $1.05 billion by Nigerian National Petroleum Corporation (NNPC), from NLNG, a venture owned by the state oil firm and foreign energy companies, without approval. NLNG, which produces liquefied natural gas (LNG) for export, is a joint venture company owned by NNPC and foreign energy firms Royal Dutch Shell Plc, Total SA and ENI.
On 15th November, EIN Newsdesk carried a report from the IMF under its Financial Sector Assessment Program-Report on the Observance of Standards and Codes on FATF Recommendations for AML/CFT. The summary says that Colombia has a reasonable understanding of its main domestic AML/CFT risks. The country’s understanding of risks relies particularly on the results of the 2013 and 2016 National Risk Assessments (NRA). The 2016 NRA has yielded reasonable findings with respect to the identification of the main money laundering threats and vulnerabilities. The AML/CFT supervisory systems and tools are not entirely in line with the risk-based approach (RBA), and there are significant gaps in the supervision of designated non-financial businesses and professions (DNFBP). Colombia investigates and prosecutes money laundering effectively, but not in a manner that is commensurate with its risks. The full report is available at –
Diálogo on 15th November reported that criminals in Costa Rica and Panama transport Chinese citizens to Central America for labour exploitation or to take them illegally to the US. In September, Costa Rican and Panamanian authorities dismantled a human trafficking ring that smuggled people from China to Latin America, and the 2-year investigation led to a ring linked to criminals in other Latin American countries, such as Peru, Colombia, and Ecuador. Chinese citizens were transported from China to Europe by air. From there, they were taken to Ecuador, Peru, or Colombia, with Costa Rica as their final destination for a $22,000 to $45,000 fee. Most migrants entered via Juan Santamaría International Airport in San José, Costa Rica, with the complicity of some state officials.