A news release from the US Treasury on 22nd March announced that OFAC had designated 14 individuals and 17 entities in connection with Iran’s Organization of Defensive Innovation and Research (SPND), which it said has provided support to designated Iranian defence entities and whose key personnel played a central role in the Iranian regime’s past nuclear weapons effort. This action targets current SPND subordinate groups, supporters, front companies, and associated officials. It includes the Shahid Chamran Group, the Shahid Karimi Group, and the Shahid Fakhar Moghaddam Group (Shahid Fakhar); as well as 3 key SPND front and cover companies – Pulse Niru, Kimiya Pakhsh Shargh (KPS), and the Paradise Medical Pioneers Company (PMP).
The Mutual Evaluation report on Colombia, produced by the regional FATF-style body GAFILAT is available online.
The report from GAFILAT, the regional FATF-style body, on Peru is available online.
In March 2019, an interdepartmental working group in Ireland produced a report that suggested the regulator should also be tasked with monitoring gambling marketing, maintaining sports integrity and banning betting inducements such as issuing credit to customers for gambling purposes. The report also suggested the regulator consider imposing daily, weekly and monthly spending limits for gambling. It calls for a comprehensive reform of all legislation relating to the licensing and regulation of all gambling activities
On 22nd March, Accountancy Daily reported that the OECD’s Global Forum on transparency and exchange of information for tax purposes has released the first-ever beneficial ownership toolkit designed to help governments, particularly in developing countries, comply with international transparency standards. The focus is said to be on the standards ensuring that law enforcement officials have access to reliable information on who the ultimate beneficial owners are behind a company or other legal entity so that criminals can no longer hide their illicit activities behind opaque legal structures. The toolkit, prepared in partnership with the Inter-American Development Bank, was developed to support global forum members and in particular developing countries. The toolkit contains policy considerations that Global Forum members can use in implementing the legal and supervisory frameworks to identify, collect and maintain the necessary beneficial ownership information.
The toolkit itself is at –
The Nassau Guardian on 22nd March reported that the Financial and Corporate Service Providers (AML/CFT) Rules, 2019 and the Securities Industry (AML/CFT) Amendment Rules, 2019 were tabled in the House of Assembly 1 month after the Bahamas was added to the EU list of jurisdictions having strategic deficiencies in its AML/CFT regime. The rules for financial services providers call for a risk rating framework which, among other things, is designed to establish KYC and due diligence information requirements; require the appointment of a compliance officer and a MLRO; and require that financial and corporate service providers develop clear procedures and controls for the verification of a PEP.
EU Regulation 2019/459/EU from 23rd March replaces Annex I to Regulation 270/2011/EU, which contains the list of those subject to sanctions, being supplemented with information regarding the rights of defence and the right to effective judicial protection.