OTHER THINGS YOU MAY HAVE MISSED – JANUARY 4

4th January 2019

GHOSN PAID 2 MORE ACQUAINTANCES $48 MILLION WITH NISSAN MONEY

The Nikkei Asian Review on 4th January reported that Carlos Ghosn is said to have paid nearly $50 million to businesses run by 2 Middle Eastern acquaintances from the cash reserve at the centre of breach of trust allegations against the former Nissan chairman.  Nissan dealers in Oman and Lebanon received $32 million and $16 million, respectively, through Dubai-based Nissan Middle East, sources sai, and around the same time that Ghosn paid a total of $14.7 million to a business run by Saudi associate Khaled al-Juffali, allegedly as compensation for help covering personal losses in the wake of the 2008 financial crisis.

https://asia.nikkei.com/Business/Nissan-s-Ghosn-crisis/Ghosn-paid-2-more-acquaintances-48m-with-Nissan-money

PANAMA CLOSES NARCOTRAFFICKING ROUTES

Diálogo on 3rd January reported that Operation Shield (Operación Escudo) was a joint initiative of Panamanian security branches that began on October 1st.  In 3 months, the Panamanian Public Force seized nearly 25 tons of drugs and arrested more than 120 people in several operations throughout the country.  According to the Public Force, most of the drug seized belonged to Clan del Golfo, a Colombian organized armed group.  The Operation Shield, which will extend to the end of September 2019, seeks to create a permanent and sustained siege against narcotrafficking, using all air and naval means with intelligence support from Colombian, Costa Rican, and US security forces.  Although Shield is a nationwide initiative, the operations focus mainly on border areas with Colombia and Costa Rica, as well as coastal areas along the Pacific and the Caribbean.

https://dialogo-americas.com/en/articles/panama-closes-narcotrafficking-routes

RUSSIAN INDICTED IN FLORIDA FOR EXPORT CONTROL OFFENCES ARRESTED IN SAIPAN

The Marianas Variety in Micronesia reported on 4th January that a Russian national, Dmitrii Makarenko, 72, indicted in Florida in 2017 for alleged involvement in a conspiracy to illegally ship military items in 2013 has been arrested on Saipan.  He faces charges of conspiracy to export defence articles without a licence, and money laundering.  In June, Makarenko’s co-defendant, Vladimir Nevidomy, was sentenced to 26 months in prison.

http://www.mvariety.com/cnmi/cnmi-news/local/109795-russian-indicted-in-florida-arrested-on-saipan

https://www.saipantribune.com/index.php/fbi-arrests-man-wanted-in-florida-for-arms-violations-conspiracy/

UK IVORY BAN HAS BECOME LAW – HOW WILL IT WORK IN PRACTICE?

On 3rd January, an article in Apollo Magazine pointed out that there was also a de facto import ban on ivory in the US that means that US museums and private collectors are unable to increase their holdings with works of art made of or containing ivory, if such objects are not already in the country, and then not without considerable impediments.  It also points out that there are different rules on the trade in antique ivory in place across Europe, and in China.  The author of the article says that, in the UK, the salient issues revolve primarily around implementation, and how this will impact on the market for historic works of art.

https://www.apollo-magazine.com/now-that-the-uk-ivory-ban-has-become-law-how-will-it-work-in-practice/

IRELAND: CABINET GIVES GREEN LIGHT TO AML BILL TO IMPLEMENT 5TH AML DIRECTIVE

The Irish Times reported on 3rd January that the Cabinet has approved the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019, including tougher provisions to tackle the use of cryptocurrencies in funding terrorism.  The main purpose of is to give effect to the 5th EU money laundering Directive and strengthen existing legislation.  If the Bill passes, banks and other financial institutions will be required to carry out stricter due diligence before taking on new clients; credit and financial institutions will be prevented from creating anonymous safe deposit boxes; restrictions will be imposed on the use of virtual currencies for terrorist financing and limits on the use of pre-paid cards; and improved safeguards for financial transactions to and from “high-risk third countries”.  It also gives new powers to the Garda and CAB to access bank records when investigating money laundering.

https://www.irishtimes.com/news/crime-and-law/cabinet-gives-green-light-to-anti-money-laundering-bill-1.3747183

https://www.dublinlive.ie/news/dublin-news/how-new-anti-money-laundering-15628045

INDIA: GOVT RESTRICTS PRINTING OF 2,000 RUPEE NOTES TO RESTRAIN MONEY LAUNDERING

Newstrack Live reported on 4th January that the Indian Government has stopped the printing of Rs 2,000 (approximately £22) currency notes in order to hold back money laundering and tax evasion.

https://english.newstracklive.com/news/govt-restricts-printing-of-rs-2000-notes-to-restrain-money-laundering-sc1-nu-58794-1.html

BRITISH COLUMBIA CASINOS: $20 BILLS IN DUFFEL BAGS AND ‘OBVIOUS’ MONEY LAUNDERING, WARNINGS IGNORED

CTV News in Vancouver published an article on 3rd January saying that money laundering in British Columbia casinos with huge amounts of $20 bills in duffel bags and paper bags was “obvious” and a problem the BC Lottery Corporation needed to deal with to be a good corporate citizen, public servants warned almost a decade ago in correspondence obtained by CTV news.  The agency’s response at the time: dismiss the concerns, according to records newly uncovered through a Freedom of Information request.  It says that the person who wrote BCLC’s reply is now the director of its AML unit.

https://bc.ctvnews.ca/20-bills-in-duffel-bags-obvious-money-laundering-warnings-ignored-letter-1.4240114

CAUTIOUS WELCOMES FOR UK GOVERNMENT RESPONSE TO THE LIMITED PARTNERSHIP LAW REFORM CONSULTATION

An article from Charles Russell Speechlys comments on the Government response that summarises the comments received during the consultation launched in April 2018 and which ended in July, and sets out the Government’s proposed responses and potential legislative changes.  It says the response recognises the need to limit the risk of misuse of UKLP whilst also maintaining the appeal of UKLP as an investment vehicle for legitimate domestic and overseas businesses.

https://www.charlesrussellspeechlys.com/en/news-and-insights/insights/corporate/2019/charles-russell-speechlys-cautiously–welcomes-the-government-response-to-uklp-law-form-consultation/

US REPORTING CHECKLIST FOR FOREIGN TRUSTS

On 3rd January, Kozusko Harris Duncan published an article which says that trusts classified as foreign for US tax purposes, whether established under the law of a US state or of an offshore jurisdiction, must review whether they have any US tax or information reporting filings to make in 2019 with regard to income earned and distributions made in 2018.  This article provides trust officers and family advisers with a summary checklist.

https://www.internationallawoffice.com/Newsletters/Private-Client-Offshore-Services/USA/Kozusko-Harris-Duncan/US-reporting-checklist-for-foreign-trusts

UK: ADDITIONAL CUSTOMS DUTIES ON PRODUCTS FROM THE USA

On 4th January, HMRC published a Customs Information paper on an EU Regulation which, from 22nd June 2018, additional customs duties were liable on goods listed in Annex 1 and 2 of the Regulation originating from the USA.

https://www.gov.uk/guidance/additional-customs-duties-on-products-from-the-usa-cip19

GIBRALTAR ORDERED BY EU TO RECOVER €100 MILLION IN ILLEGAL TAX-BREAKS

On 2nd January, International Investment published an article saying that the European Commission has found that Gibraltar gave around €100 million worth of illegal tax advantages to multinational companies and has ordered it to recoup those tax-breaks.  Gibraltar’s corporate tax exemption regime for interest and royalties between 2011 and 2013 was deemed illegal under EU state aid rules after a 5-year probe

https://www.internationalinvestment.net/news/4000277/gibraltar-eu-recover-eur100m-illegal-tax-breaks

US: INTERNATIONAL CO-OPERATION IN FOREIGN-BRIBERY ENFORCEMENT CONTINUED IN 2018

The Wall Street Journal on 4th January reported that international co-operation continues to be a central theme in anti-foreign bribery cases, as 2018 enforcement figures indicate.  US authorities resolved 17 corporate cases of Foreign Corrupt Practices Act violations in 2018, matching the average amount struck over the past 10 years- with about $2.9 billion in penalties connected to those cases, but in several instances collecting only a portion of that amount, as the companies involved struck simultaneous settlements with multiple countries.

https://blogs.wsj.com/riskandcompliance/2019/01/04/international-cooperation-in-foreign-bribery-enforcement-continued-in-2018

ROMANIA: NEW RETROACTIVE TAX FOR GAMBLING OPERATORS

On 4th January, Calvin Ayre reported a new 2% tax on gambling turnover.  An emergency ordinance took effect on 1st January and imposed stiff tax hikes on a number of industries, including a ‘greed tax’ on bank assets and a 3% tax on telecom operators’ turnover.  The new taxes on gambling turnover, which the government referred to as a ‘gambling participation fee’, involve a 5% turnover tax for online operators, and 3% for land-based operators.  These were to be imposed in addition to the existing 16% tax all operators pay on their gross gambling revenue.  However, it says that the government then released a revised ordinance that softened the blow by reducing the gambling turnover tax to 2% – but will reportedly apply the tax retroactively to Romanian-licensed gambling operators’ 2018 performance, and operators will have until February 25th to make this lump-sum payment.

https://calvinayre.com/2019/01/03/business/romania-retroactive-gambling-turnover-tax/

NON-DISCLOSURE AGREEMENTS (NDA) IN EMPLOYMENT CONTRACTS – DO EMPLOYERS REALLY NEED THEM?

On 3rd January, Appleby published the second part of an article looking at the increasing use of non-disclosure agreements (NDA) in the employment context.  The second part considers introducing or improving upon standard confidentiality clauses in an employment contract as an alternative.

https://www.applebyglobal.com/insights/insights-2019/non-disclosure-agreements-in-employment-contracts—do-employers-really-need-them–part-2.aspx

MONTENEGRO LAUNCHES SCHEME OFFERING CITIZENSHIP FOR INVESTMENT

KYC 360 on 4th January reported that Montenegro has launched a programme offering citizenship to up to 2,000 foreigners in return for investment over the next 3 years to help speed up its economic development.

https://www.riskscreen.com/kyc360/news/montenegro-launches-scheme-offering-citizenship-for-investment/

BELGIAN COURT CALLS PRISON SENTENCES IN CHEMICALS TO SYRIA CASE

The Knack on 4th January reported that prosecutors in Antwerp recommended 3 Belgian companies involved in the shipping of 168 tonnes of isopropanol and 219 tonnes of acetone to Syria be fined and that managing directors of 2 companies be sentenced to jail.

https://m.knack.be/nieuws/belgie/gerecht-vraagt-gevangenisstraffen-in-isopropanol-case/article-longread-1412967.html?cookie_check=1546603054 (in Dutch)

ALLEGED DRUG TRAFFICKING WITHIN THE VENEZUELAN REGIME

In May, Insight Crime published an article saying that InSight Crime had been building files on senior Venezuelan officials, current or past, that have been involved in the trafficking of cocaine.  It says it had 123 files. However, for legal reasons it could not publish the entire list.  Instead it gave details of those it felt it had very strong evidence against.  It says that, instead of side-lining those accused of drug trafficking, President Maduro has promoted them to the highest offices, perhaps calculating that they have the most to lose if his regime falls and will therefore fight the hardest to preserve it.

https://www.insightcrime.org/investigations/drug-trafficking-venezuelan-regime-cartel-of-the-sun/

DUBAI CUSTOMS DISRUPTED 922 SMUGGLING ATTEMPTS IN FIRST 9 MONTHS OF 2018

On 2nd January, Insight Crime published an article saying that, of the 922 smuggling efforts disrupted by Dubai Customs last year, 355 were related to drugs, including one plot to sneak an illicit shipment of cannabis weighing 25.5 kg into the city hidden inside loud speakers in an airline passenger’s luggage.  In another incident, inspectors found 6,720 Lyrica tablets, which have been dubbed “the new Valium”, cleverly concealed inside bags of nuts.  Officers in Dubai are said to have inspected 30.2 million items of luggage between January and September.

https://www.illicit-trade.com/2019/01/dubai-customs-disrupted-922-smuggling-attempts-in-first-nine-months-of-last-year/

ILLICIT FINANCE IN RUSSIA’S OVERSEAS INFLUENCE OPERATIONS: A CASE STUDY OF FIRST CZECH-RUSSIAN BANK

On 28th December, the Alliance for securing Democracy published an article which claims that the bank was involved in financial support for Iran; use of the bank as a vehicle for money laundering by corrupt elites on a massive scale through the “Russian Laundromat” money laundering scheme identified by OCCRP; support for sanctioned organised crime figures; and Russian state-sanctioned interference in the Western political system in the form of a €9.4 million loan to the National Front in France.

https://securingdemocracy.gmfus.org/first-czech-russian-bank-case-study/

FORMER COLOMBIAN NATIONAL DIRECTOR OF ANTI-CORRUPTION JAILED FOR 4 YEARS IN US

The FCPA Blog on 3rd January reported that Luis Gustavo Moreno Rivera, 37, former Colombian National Director of Anti-Corruption has been sentenced to 4 years in prison after a DEA sting in Miami caught him soliciting a $132,000 bribe to undermine an investigation into a local politician.

http://www.fcpablog.com/blog/2019/1/3/former-colombia-anti-corruption-chief-jailed-four-years-for.html

UK: PHARMACIES WARNED OF FAKE TABLETS CONTAINING FENTANYL

The Pharmaceutical Journal on 4th January reported that counterfeit tablets that contain the opioid fentanyl have been found in the UK for the first time.  Public Health England (PHE) said that it had alerted all directors of public health in the capital about the seizure and was working with the police and local authorities.  PHE is quoted as saying that Fentanyl is a strong opioid about 50 times more potent than heroin…there is no safe way to use illicit fentanyl, which has been responsible for thousands of drug-related deaths in North America.

https://www.pharmaceutical-journal.com/news-and-analysis/news-in-brief/pharmacies-warned-of-fake-tablets-containing-fentanyl/20205956.article

TUNISIAN MAROUANE MABROUK SHOULD REMAIN ON EU SANCTIONS LIST, SAYS TRANSPARENCY INTERNATIONAL

On 4th January, Transparency International said that the EU should not unfreeze the assets of a Tunisian businessman and son-in-law of the former Tunisian president Zine el Abidine Ben Ali.  Following a request from the Tunisian Ministry of Foreign Affairs, Mohammed Marouen Mabrouk, will potentially be removed from the EU’s list of 48 people sanctioned for misappropriating Tunisian state assets in 2011, following the Tunisian revolution.  However, the NGO said that EU governments should reject the request until such time as the corruption allegations are resolved.

https://www.transparency.org/news/pressrelease/marouane_mabrouk_ben_alis_son_in_law_should_remain_on_eu_sanctions_list

FORMER PORTUGUESE MINISTER CLEARED IN VISA CORRUPTION CASE

The Washington Post on 4th January reported that a court in Lisbon said it was not proven that former Interior Minister Miguel Macedo had favoured Chinese and Angolan investors in administrative procedures granting the so-called “golden visas”.  2 other senior Portuguese officials were found guilty of corruption while 2 Chinese citizens were convicted of influence-peddling.  Another Chinese citizen and an Angolan were acquitted.

https://www.washingtonpost.com/world/europe/former-portuguese-minister-cleared-in-visa-corruption-case/2019/01/04/4f32a3c0-1024-11e9-8f0c-6f878a26288a_story.html?utm_term=.5e5597916cfc

SOUTH AFRICA: LAW ENFORCEMENT LAYS DOWN A MARKER AGAINST MARITIME POACHING

On 4th January, Defence Web reported the arrest of 20 suspects and confiscation of abalone and rock lobster valued at £9.7 million.  A 16 day-long tasking saw the SA Police Service (SAPS), Department of Agriculture, Forestry and Fisheries (DAFF) and Western Cape provincial conservation agency, Cape Nature, make what the national Department of Environmental Affairs called “a notable success”.

http://www.defenceweb.co.za/index.php?option=com_content&view=article&id=54109:law-enforcement-lays-down-a-marker-against-maritime-poaching&catid=108:maritime-security&Itemid=233

UK CORPORATE GOVERNANCE REFORM

On 4th January, the House of Commons Library published a briefing which discusses UK Government work on reforms and other proposals.  It explains that “corporate governance” is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies.

https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-8143

FOREIGN GANGSTERS ‘BUYING RESPECTABLE COMPANIES IN SCOTLAND TO HIDE DIRTY MONEY’

The Evening Times in Glasgow on 4th January reported that the head of forensic accountancy at Police Scotland, confirmed the purchase of a mainstream Scottish company by a foreign businessman with known gangland affiliations, and effectively sounded a wake-up call about the threat of organised crime infiltration into Scotland’s legitimate economy.  He said he was not talking about shell companies, such as Scottish limited partnerships, which tend to bank overseas, but rather about the purchase by gangsters of real-world business which employ real people and do real business in Scotland.

https://www.eveningtimes.co.uk/news/17335424.foreign-gangsters-buying-respectable-companies-in-scotland-with-dirty-money
BIRMINGHAM COUPLE WHO WASHED AND SOLD USED STAMPS ON EBAY JAILED

Birmingham Live on 4th January reported that a Birmingham couple who defrauded the Royal Mail by “washing” used stamps and selling them on ebay as new have both been jailed.  As a result of their scam, which they ran from their home for 5 years, they caused a potential loss to Royal Mail of over £400,000.

https://www.birminghammail.co.uk/news/midlands-news/birmingham-couple-who-washed-sold-15632376

FRENCH VAT EXEMPTIONS FOR CHARTERS STARTING IN MARTINIQUE AND GUADALUPE

On 4th January, Superyacht News reported that the French government has passed legislation allowing VAT exemptions for chartered superyachts in the Caribbean – provided the yacht is more than 24m long, is less than 3,000 GT and travels beyond French territorial waters.  It says that the system that is now applied to Martinique and Guadalupe is akin to that previously applied in France before the fallout from the Bacino Charter case (2010) forced the French government’s hand in 2013.  It explains that the EU VAT Directive does not apply to France’s overseas territories, which are Martinique and Guadalupe, thus allowing the treatment.

http://www.superyachtnews.com/business/vat-exemptions-for-charters-starting-in-martinique-and-guadalupe

CROATIA CATCHES WANTED ITALIAN MAFIA DRUG DEALER

OCCRP on 4th January reported that police arrested in Zagreb a former member of a mafia group who was convicted for drugs trafficking in Italy, Croatian authorities said.  They arrested Claudio D’Este, 72, as he was leaving his home with his family.  He had counterfeit identity papers.  Italy had issued a European arrest warrant for D’Este.  D’Este was a member of Venetian mafia group Mala del Brenta, which was led by Felice Maniero, also known as “Angel Face”.  The group sold drugs from abroad in the Veneto region throughout the 1980s and 1990s.

https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/9077-croatia-catches-wanted-italian-mafia-drug-dealer

FUND MANAGERS MUST ADAPT TO UK LIMITED PARTNERSHIPS REFORMS

On 4th January, Out-Law reported that fund managers will need to alter existing practices to comply with reforms to UK limited partnership laws likely to be introduced in 2019.  The article outlines the details of reforms that flow ultimately from allegations that Scottish limited partnerships in particular were being misused.

https://www.out-law.com/en/articles/2019/january/fund-managers-must-adapt-to-limited-partnerships-reforms/

UK BANKS EXPLORE PROBLEM GAMBLING SPENDING CONTROLS

On 4th January, iGB reported that 3 of the UK’s biggest banking groups are exploring ways to support customers who are problem gamblers, although they have denied that definitive timeframes for the introduction of payment-blocking tools have been finalised.

http://www.igamingbusiness.com/news/uk-banks-explore-problem-gambling-spending-controls

MODERNISING GUERNSEY’S CORPORATE INSOLVENCY LAW

In an article dated 7th January, Appleby published an article that said the States of Guernsey have published draft legislation (the Draft Legislation) which recommends amendments to the current corporate insolvency legal regime contained within the Companies (Guernsey) Law 2008.

https://www.applebyglobal.com/insights/insights-2019/modernising-guernsey-s-corporate-insolvency-law.aspx

DRUG TRAFFICKERS RECRUITING WOMEN BY THE HUNDREDS TO TRANSPORT DRUGS FROM BOLIVIA TO CHILE

On 4th January, an article from Insight Crime said that drug traffickers are recruiting women by the hundreds to transport drugs from Bolivia to feed Chile’s growing consumer market.  It says that they tempt impoverished, debt-ridden women, who are often the sole providers for their families, with offers of up to $1,000 to become “tragonas” (swallowers) or drug mules. And the countries’ poor relations coupled with the high demand for drugs mean this problem will likely only continue to grow.

https://www.insightcrime.org/news/analysis/expendables-weakest-link/

SAUDI ARABIA TO RECEIVE THUNDER-2 BALLISTIC MISSILE SYSTEM IN 2022

Defence Blog on 3rd January reported that Saudi Arabia’s military is expected to receive new mobile Thunder-2 short-range ballistic missile system in 2022.  It is in the middle of receiving first components of the Thunder-2 ballistic missile, which has been jointly developed by King Abdulaziz City for Science and Technology (KACST) and Ukrainian Yuzhnoye Design Office.

https://defence-blog.com/news/saudi-arabia-to-begin-receiving-thunder-2-ballistic-missile-system-in-2022.html

POLICE STRUGGLE TO STOP FLOOD OF FIREARMS INTO UK

The Guardian on 27th December carried an article saying that a Senior officer had warned that the supply of guns has increased in the past year and will continue to do so in 2019.  The newspaper says that it has learned that the situation is so serious that the NCA has taken the rare step of using its legal powers to direct every single police force to step up the fight against illegal guns; and has used tasking powers to direct greater intelligence about firearms to be gathered by all 43 forces in England and Wales.  It says that smugglers have increasingly found new ways and innovative routes to get guns past border defences.

https://www.theguardian.com/world/2018/dec/27/police-struggle-to-stop-flood-of-firearms-into-uk?CMP=share_btn_tw

SPAIN MODERNISING VENEZUELAN TANKS DESPITE EU-WIDE ARMS EMBARGO

El Pais on 31st December reported that the licence to export parts was granted when the sanctions were already in place.  The cross-ministry board that controls Spanish military exports approved the sale of €20 million of tank parts in the first quarter of 2018.  It says that the embargo only allows for 2 exceptions: the supply of material for humanitarian means, and for operations involving the UN and regional organisation; and the “execution of contracts signed before November 13th 2017 and auxiliary contracts necessary for the execution of the same”.

https://elpais.com/elpais/2018/12/31/inenglish/1546243499_331028.html?id_externo_rsoc=TW_CC

PANAMA COURT NO JURISDICTION TO HEAR CASE AGAINST FORMER PRESIDENT?

On 4th January, Kenneth Rijock in his blog said that the Panama Supreme Court has issued a ruling that appears to declare that it has no jurisdiction to hear the case against the country’s former president, Ricardo Martinelli on the criminal charges that he was extradited for from the US.  The Edict provides for the right of appeal by any interested party within 5 days.

http://rijock.blogspot.com/

ECUADOR AUDIT FINDS $2.5 BILLION LOST IN OIL INFRASTRUCTURE CORRUPTION

UPI on 4th January reported that a special audit into $4.9 billion worth of oil-related infrastructure investment in the last decade reveals that about half of it was lost to corruption.
https://www.upi.com/Energy-News/2019/01/04/Ecuador-audit-finds-25B-lost-in-oil-infrastructure-corruption/9981546603653/

BELGIAN COURT CALLS PRISON SENTENCES IN CHEMICALS TO SYRIA CASE

The Knack on 4th January reported that prosecutors in Antwerp recommended 3 Belgian companies involved in the shipping of 168 tonnes of isopropanol and 219 tonnes of acetone to Syria be fined and that managing directors of 2 companies be sentenced to jail.

https://m.knack.be/nieuws/belgie/gerecht-vraagt-gevangenisstraffen-in-isopropanol-case/article-longread-1412967.html?cookie_check=1546603054 (in Dutch)

THREAT INFORMATION-SHARING AND GDPR: A LAWFUL ACTIVITY THAT PROTECTS PERSONAL DATA

A White Paper from Osborne Clarke on 4th January argues that threat information-sharing and why it is a legitimate interest of financial institutions under GDPR.  It says that the GDPR has stifled the practice of threat information-sharing, in turn increasing the threat of successful attacks.  However, the White paper concludes that threat information-sharing seeks to preserve fundamental goals of GDPR, and is a cornerstone to the Regulation’s principles and purpose: to protect “fundamental rights and freedoms of natural persons and in particular their right to protection of personal data”.  The White Paper says that a proper understanding of what is involved is required, and explains what it is.  It says that threat information-sharing is the exchange of information relating to threats, whether cyber or other, between members of a sharing community for the purpose of enhancing their security posture by leveraging the collective knowledge, experience, and capabilities of the community toward the threat.  Generally, a “threat” is any circumstance with the potential to adversely impact organisational operations (including mission, functions, image, or reputation), assets, individuals, other organisations, or a nation through an information system “via unauthorised access, destruction, disclosure, or modification of information, and/or denial of service”.  Thus threat information-sharing involves the sharing of information to help organisations protect individuals, organisations, nations, and even the public at large against malicious acts resulting in an unauthorised access, disclosure, loss, or alteration of data, including personal data.   It says that a common motto for threat information-sharing is allowing “one organisation’s detection to become another’s prevention”.

http://www.osborneclarke.com/wp-content/uploads/2019/01/Threat-Information-Sharing-and-GDPR_Final_TLP-WHITE.pdf

EX-CREDIT SUISSE BANKERS ARRESTED OVER ‘$2 BILLION FRAUD SCHEME’ IN MOZAMBIQUE

On 4th January, the BBC reported that 3 former Credit Suisse bankers have been arrested over their alleged role in a $2 billion fraud scheme connected to businesses in Mozambique.  The men have been released on bail in London while the US seeks their extradition.  The scheme allegedly involved loans to state-owned companies in Mozambique 2013-2016 using maritime projects as fronts, and 2 others, including the country’s former finance minister, have also been arrested.

https://www.bbc.co.uk/news/business-46755159

FORMER MOZAMBIQUE FINANCE MINISTER ARRESTED IN RELATION TO $2 BILLION SECRET LOANS

Re reports that former Mozambique Finance Minister Manuel Chang had been arrested in South Africa in relation to $2 billion secret debt deals.

http://www.ekklesia.co.uk/node/27476

A Lebanese executive for a regional shipbuilding company has been arrested in New York over a $2 billion fraud linked to state-funded maritime projects in Mozambique, US prosecutors said.

https://www.thenational.ae/world/the-americas/lebanese-salesman-arrested-over-2-billion-fraud-1.809417