UK FUGITIVE CONVICTED IN £10 MILLION JEWISH CHARITY MONEY LAUNDERING SCAM

The Times of Israel on 1st July reported that Edward Cohen allegedly used Jewish charities to launder the proceeds of tax evasion on illegal sales of medicines including diet pills and Viagra across Europe.   He was convicted in absentia of providing false information to the Charity Commission and money laundering.  His son, David Cohen, 38, was also convicted of related charges – and he was granted bail.

https://www.timesofisrael.com/uk-fugitive-convicted-in-10-million-jewish-charities-laundering-scam/

HONG KONG WELCOMES FATF ‘COMPLIANT’ RESULT BUT IMPROVEMENTS STILL NEEDED

Regulation Asia on 1st July reported that Hong Kong is said to have been found to be particularly effective in the areas of risk identification, law enforcement, asset recovery, counter-terrorist financing and international co-operation by FATF.  The mutual evaluation report of Hong Kong was examined at the FATF Plenary on 20th June.  However, the report, due to be published in September, says that Hong Kong still needs to prioritise efforts to prosecute money laundering linked to foreign predicates, increase its risk understanding, boost AML/CFT implementation by smaller institutions, and strengthen supervisory measures for some sectors.

https://www.regulationasia.com/hong-kong-welcomes-fatf-compliant-result/