OTHER THINGS YOU MAY HAVE MISSED – JULY 13

13th July 2019

PANAMA TO WITHDRAW FLAGS FROM MORE VESSELS THAT VIOLATE SANCTIONS

On 12th July, Reuters claimed an exclusive in reporting that Panama will withdraw its flag from more vessels that violate sanctions and international legislation following the removal of about 60 ships linked to Iran and Syria from the Panamanian registry in recent months.  Grace 1, the tanker detained in Gibraltar, was rejected from the Panama flag on 29th May.  The general director of Merchant Marine from Panama’s Maritime Authority has told Reuters that it will maintain its flag withdrawal policy.

https://en.brinkwire.com/news/exclusive-panama-to-withdraw-flags-from-more-vessels-that-violate-sanctions/

DUTCH GAMBLING REGULATOR PUBLISHES GUIDELINES FOR PREVENTION OF MONEY LAUNDERING

Casino Buzz on 12th July reported that KSA has published its guidelines for the prevention of money laundering and financing of terrorism in the gambling industry in the Netherlands.  The new guidelines require operators to have a specific AML policy in place, and are required to run a verification check on customers, and those whose identity could not be verified should not be allowed to gamble.  If a customer exchanges €10,000 for gambling chips at a licensed casino or if they process a cashless payment transaction of € 15,000 or more, the gambling operator should inform the KSA.

https://casino.buzz/dutch-gambling-regulator-ksa-publishes-guidelines-for-prevention-of-money-laundering-9034/

https://www.sbcnews.co.uk/sportsbook/2019/07/12/dutch-ksa-publishes-first-guidelines-on-money-laundering/

RUSSIA: FEDERAL SECURITY SERVICE DETAINS 9 CUSTOMS OFFICERS OF DOMODEDOVO AIRPORT AT ‘AWARD CEREMONY’

On 12th July, Customs Today reported that the Federal Security Service arranged a fake award ceremony for employees of the customs office of Moscow airport of Domodedovo in order to gather together 9 workers of the service suspected of bribe taking.  8 front line employees and a shift supervisor who arrived at the ceremony were detained.

http://www.customstoday.com.pk/federal-security-service-detains-9-customs-officers-of-domodedovo-at-award-ceremony/

150 YEARS OF THE P+I CLUB

A video on Vimeo celebrates the 150 years of the shipping mutual insurance club.

https://vimeo.com/347049714

POLICE CORRUPTION IN SOUTH AFRICA

On 11th July, Transparency International published an article saying that in South Africa police corruption leaves the public exposed to high rates of crime, and causes distrust of the police service while allowing crime to flourish. It refers to a report published by Corruption Watch in June that paints a grim picture of corruption within the South African police and metro police services – analysing the 1,440 reports received to date that point to police corruption, the organisation noted that the top 3 types of corruption experienced by whistleblowers are bribery (33%), abuse of power (23%), and failure to act (18%).  Another survey is said to have found that 19% of South African respondents had paid a bribe to a police officer, whether just once, occasionally, or often.

https://voices.transparency.org/the-terrible-consequences-of-police-corruption-in-south-africa-294e6fd8922

The June report is at –

https://www.corruptionwatch.org.za/cw-reveals-grim-state-of-corruption-in-policing/

IS MAURITIUS AT A TIPPING POINT IN THE FIGHT AGAINST CORRUPTION?

An article from Transparency International on 11th July said that what made Mauritius different from most of the rest of Africa was how much bribe-free service delivery and institutional integrity Mauritius could lose compared to most of the African countries surveyed by the organisation.  It asks why is this island state unusually bribery-free for Africa and why might corruption be on the rise?  It says Mauritius benefits from being stable, prosperous and largely democratic, has a mostly free press, robust laws and a strong anti-corruption system in its institutions.  It combines one of Africa’s highest GDP (although with increasing income-based inequality) with an open, multiparty democratic system in which free and fair elections consistently allow for the handover of power, and a strong legal framework to prevent corruption, (although this can be enforced inefficiently and unevenly).  Nevertheless, the Mauritius national anti-corruption agency has had a significant effect on corruption, though it did not rid Mauritius of nepotism and cronyism and recent scandals involving top politicians have also rocked the country – which the article suggests may be major reasons why Mauritians feel that unchecked corruption is on the rise.

https://voices.transparency.org/is-mauritius-at-a-tipping-point-in-the-fight-against-corruption-914e4d5ab878

MAURITIUS

 

INDIA’S ALLAHABAD BANK REPORTS $259 MILLION ALLEGED FRAUD BY BANKRUPT STEELMAKER

On 13th July, Reuters reported that Allahabad Bank has become the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd.  Punjab National Bank (PNB) had already reported an alleged fraud of $554.6 million in the steelmaker’s accounts.

https://uk.reuters.com/article/us-india-allahabad-bank-fraud/indias-allahabad-bank-reports-259-mln-alleged-fraud-by-bankrupt-steelmaker-idUKKCN1U80HM

JEFFREY EPSTEIN’S MYSTERIOUS WEALTH “COULD BE EXPLAINED BY A PONZI SCHEME”

The New York Post on 13th July said that what it called the mystery source of Jeffrey Epstein’s wealth could be buried in a 1980s fraud case which is resurfacing as the billionaire financier faces a slew of sex-trafficking charges.  It reports alleged links to a claimed Ponzi scheme run by Steve Hoffenberg’s Towers Financial Corporation.

https://nypost.com/2019/07/13/jeffrey-epsteins-mysterious-wealth-could-be-explained-by-a-ponzi-scheme/

INDIA: AUTHORITIES ARREST TOP EXECUTIVE AT FUTURE GROUP OVER UNPAID DUTIES

Live Mint on 13th July reported that the Directorate of Revenue Intelligence had arrested Dinesh Maheshwari, executive director and CFO of retail conglomerate Future Enterprises over the alleged breach of import rules that allow duty-free shipments of certain items under a free trade pact with Bangladesh.  The group runs a series of retail chains in the country.

https://www.livemint.com/companies/news/authorities-arrest-top-executive-at-future-group-over-unpaid-duties-1563028914849.html

https://www.reuters.com/article/india-future-group-fraud/indian-authorities-arrest-top-executive-at-retailer-future-group-over-unpaid-duties-idUSL4N24E031

TAIWANESE SECURITIES ANALYSTS ARRESTED IN SHANGHAI

Focus Taiwan on 13th July reported that several Taiwanese security analysts (and stock tipsters) were arrested in Shanghai.  12 Taiwanese working for Thousand & Billion Education and Trading Co. based in Shanghai were arrested on fraud charges, but 9 have since been released on bail.  They were reportedly arrested for not having analyst licences in China as Chinese law requires, even if they are licensed in Taiwan.

http://focustaiwan.tw/news/asoc/201907130016.aspx

INDIA: RAID ON HOMES AND OFFICES OF SENIOR HUMAN RIGHTS LAWYERS IN AN INVESTIGATION INTO ALLEGATIONS OF ILLEGALLY RECEIVING AND MISUSING FOREIGN FUNDS FOR THEIR NGO

Jurist on 13th July reported that the Central Bureau of Investigation (CBI) had raided the homes and offices of 2 senior human rights lawyers, Anand Grover, and Indira Jaising, in an investigation into allegations of illegally receiving and misusing foreign funds for their NGO.  The raids prompted criticism they were being targeted for political reasons.  The case involved alleged criminal conspiracy, criminal breach of trust, cheating, making a false statement in the NGO’s declaration required under Indian law.

https://www.jurist.org/news/2019/07/india-officials-raid-prominent-human-rights-lawyers-over-alleged-misuse-of-foreign-funding/

DRAMATIC VIDEO SHOWS US COAST GUARD OFFICERS INTERCEPTING SUBMARINE LOADED WITH COCAINE WORTH $232 MILLION

On 13th July, Illicit Trade reported that the footage, which was captured by one seaman’s body-worn camera, a Coast Guard boat can be seen approaching the submarine-like vessel, which was partially submerged below the water in the Eastern Pacific Ocean.

https://www.illicit-trade.com/2019/07/dramatic-video-shows-us-coast-guard-officers-intercepting-submarine-loaded-with-cocaine-worth-232-million

 

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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