OFAC Sanctions Officials of the Maduro Regime for “Rampant Corruption”

On 27 June, a news release from the US Treasury advised that OFAC had designated 2 Maduro regime officials who continue to engage in significant corruption and fraud to the detriment of the people of Venezuela.  They are the former minister of Electric Power and President of the National Electric Corporation (CORPOELEC), Luis Alfredo Motta Dominguez, and the Deputy Minister of Finance, Investments, and Strategic Alliances for the Ministry of Electric Power, Eustiquio Jose Lugo Gomez.



Statutory review of the arrangements on sharing beneficial ownership information between the UK, Crown Dependencies and Overseas Territories

On 27 June, the Home Office issued a news release saying that in 2016 the UK, the 3 Crown Dependencies and the 6 British Overseas Territories with major financial centres committed to improve longstanding law enforcement co-operation on the exchange of company beneficial ownership information.  The bilateral agreements, referred to as the Exchange of Notes Arrangements, commenced in July 2017. Now a 18-month Statutory Review of the Exchange of Notes examines their implementation and effectiveness in the period 1 July 2017 to 31 December 2018.


North Korean vessels exploiting tracking system flaws to evade sanctions

NK News on 26 June reported that following a UN report on North Korean vessels spoofing signals to hide their identity and conduct shipments in violation of sanctions, a new report sheds light on the methods used to trick the international tracking system.  The report, published by RUSI as part of its Project Sandstone series, delves into the case of the North Korean vessel Tae Yang and its attempts to spoof its identity as the Mongolian-flagged chemical tanker called the Krysper Singa.  It involves ships sending false information resulting in tracking systems recording the wrong ship. 


The report is at –