On 25th February, this SI 2019/329 specifies other names for –
- the organisation listed as Revolutionary Peoples’ Liberation Party-Front (Devrimci Halk Kurtulus Partisi-Cephesi) (DHKP-C) –
“Revolutionary People’s Liberation Party-Front (Devrimci Halk Kurtulus PartisiCephesi) (DHKP-C)”, “Revolutionary People’s Liberation Front (Devrimci Halk Kurtulus Cephesi) (DHKC)”, “Revolutionary People’s Liberation Party (Devrimci Halk Kurtulus Partisi) (DHKP)” and “Revolutionary People’s Liberation Front/Armed Propaganda Units (Devrimci Halk Kurtulus Cephesi/Silahi Propaganda Birlikleri) (DHKC/SPB)”; and
- the organisation listed as “Islamic State of Iraq and the Levant (Islamic State of Iraq and al-Sham) (Dawat al Islamiya fi Iraq wa al Sham (DAISh)) –
“Jaysh Khalid Bin Walid (JKbW) (JKW)” “Jaysh Khalid bin al-Walid (KBW)” and “Khalid ibn-Walid Army (KBWA)”.
On 25th February, FATF said it was consulting private sector stakeholders before the guidance is finalised, and wishes to receive views on, and specific proposals to the text of the 3 guidance documents: one each for legal professionals, accountants and trust and corporate service providers. Responses are requested by 8th April, in time for consideration of the draft guidance at the June Plenary.
Loadstar on 25th February reported that the freight forwarding association reminded members of the “dangers of requesting a switch bill of lading without being fully aware of potential liabilities”. A switch bill of lading can be used to hide the identity of the supplier and end user from each other – which can be for legitimate, commercial reasons, but they can also be used for fraudulent purposes. One expert is quoted as saying that “if you are asked to do a switch bill of lading, ensure that all due diligence has been completed – but we, as a business, tend to avoid them where possible”.
On 25th February, Dentons published an article saying that legalising access to medical cannabis has had a flow on effect on the Australian Trade Marks Register with now 240 pending and registered trademarks claiming the term ‘cannabis”. In Australia, traders have secured trade mark registrations containing the words cannabis, hemp and cannabis leaf devices.
On 22nd February, FATF identified the jurisdictions that have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF. While the situations differ among each jurisdiction, each jurisdiction has provided a written high-level political commitment to address the identified deficiencies; and FATF welcomes these commitments – Bahamas, Botswana, Cambodia, Ethiopia, Ghana, Pakistan, Serbia, Sri Lanka, Syria, Trinidad & Tobago, Tunisia, Yemen.
On 22nd February, FATF published a draft Interpretative Note to Recommendation 15 which says countries should consider virtual assets as “property,” “proceeds,” “funds”, “funds or other assets,” or other “corresponding value”.