On 17th April, the National Law Review reported that South Africa’s Financial Intelligence Centre FIC periodically releases financial crime typologies and case studies. Recently it published information about typologies in 2 different lines of business: casinos and the gambling industry, and the property sector, including the activities of what it terms a prominent influential person (PIP) investing in property.
The Independent on 17th April reported that new rules will open door to lawsuits against European companies that do business in Cuba, as the US announced it would allow US citizens to sue foreign firms that do business deals involving property seized during the 1959 Cuban revolution. The restrictions were included in the 1996 Helms Burton Act signed into law by Bill Clinton, but were never actually activated. France 24, in reporting EU and Canadian reaction to the move, reported that US airlines and cruise lines that bring hundreds of thousands of travellers to Cuba each year appear to be exempt from the key provision of the Helms-Burton Act. Separately, it is also reported that US citizens sending remittances to Cuba will be limited t $1,000 per person per quarter, and non-family travel will be restricted to reduce “veiled tourism” that benefits the Cuban government and military.