Day: October 4, 2019

On 4^th October, a news release from the Home Office was concerned with an historic agreement that will enable British law enforcement agencies to directly demand electronic data relating to terrorists, child sexual abusers and other serious criminals from US tech firms.  It is said that the UK-US Bilateral Data Access Agreement will dramatically speed up investigations and prosecutions by enabling law enforcement, with appropriate authorisation, to go directly to the tech companies to access data, rather than through governments, which can take years.  The current process, using Mutual Legal Assistance (MLA), can often take anywhere from 6 months to 2 years, but it is said that once in place, the Agreement will see the process reduced to a matter of weeks or even days.  The US will have reciprocal access, under a US court order, to data from UK communication service providers.

https://www.gov.uk/government/news/uk-and-us-sign-landmark-data-access-agreement

https://www.wilmerhale.com/en/insights/client-alerts/20141004-us-signs-first-bilateral-data-sharing-agreement-under-the-cloud-act

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

Unearthed reported on 27^th September that one of the UK’s biggest waste companies has been ordered to pay a record sum for trying to send loads of paper contaminated with dirty nappies and dog faeces to China for recycling.  Biffa Waste Services Ltd was fined £350,000 plus £240,000 in costs by a UK court for breaching waste regulations.  Biffa had labelled seven containers at Felixstowe port destined for the South China Sea coast as ‘mixed paper’ – but during a routine dockside inspection Environment Agency officers also found many other items including glass, plastics, electrical items, used nappies and sanitary towels, etc.

https://unearthed.greenpeace.org/2019/09/27/waste-giant-gets-record-fine-for-trying-to-illegally-export-paper-to-china/

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

A news release on 4^th October reported that the 3 European Supervisory Authorities (EBA, EIOPA and ESMA) have published their second joint Opinion on the risks of money laundering and terrorist financing affecting the financial sector. Drawing on data and information provided by national AML/CFT competent authorities, they found that the monitoring of transactions and suspicious transactions reporting still raise concerns, particularly in sectors where a financial institution’s business model is based on frequent transactions.  This Opinion is intended to contribute to strengthening the EU’s AML and CFT efforts.

https://eba.europa.eu/documents/10180/2622242/Joint+Opinion+on+the+risks+on+ML+and+TF+affecting+the+EU%27s+financial+sector.pdf

There is also an interactive tool intended to give European citizens, competent authorities and credit and financial institutions a snapshot of all risks covered in the Joint Opinion.

http://tools.eba.europa.eu/joint-opinion/JO_ML_TF_2019.html

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

On 4^th October, Air Cargo World reported that the paper was produced by FIATA’s Advisory Body on Legal Matters.  It recommends adoption of clear rules on sensitive issues like gift-giving, facilitation payments and employment of third-party service providers. Recommended processes to deal with bribery solicitations from public officials are also included to help FIATA members in such situations.

https://www.aircargoweek.com/fiata-releases-paper-to-address-corruption/?src=ilaw

The full report from FIATA is available at –

https://fiata.com/fileadmin/user_upload/documents/Prevention_of_Bribery_in_the_International_Logistics_and_Freight_Forwarding_Industry.pdf

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

International Adviser on 4^th October reported that the Association of Accidental Americans (AAA) – a group that represents people who have acquired American citizenship by birth or who were born in the US but have moved to another country shortly after – has filed a complaint against France over its compliance with the US’ Foreign Account Tax Compliance Act (FATCA).  It claims that that the intergovernmental agreement (IGA) between France and the US is in breach of European law.  The legal challenge follows a move by 2 dual Canadian/US citizens in Canadian courts.

https://international-adviser.com/france-sued-by-accidental-americans-over-fatca/

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

The ABA Banking Journal on 26^th September reported that the ABA had joined a group of financial trade associations in a letter to Senate Banking Committee leaders endorsing the Illicit Cash Act, a bipartisan Bill that would create a secure beneficial ownership registry of legal entities, to be overseen by FinCEN and the US Treasury.  Creating such a data base would help close a “massive loophole” in the existing AML framework, the groups said.  ABA—which says it has long advocated for the creation of a beneficial ownership registry—also sent its own letter of support to Senate lawmakers.

https://bankingjournal.aba.com/2019/09/aba-trades-support-legislation-to-create-beneficial-owner-registry/

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