Day: October 31, 2019

The Firearms Regulations 2019 implement in the UK the requirements of EU Directive amending Council Directive 91/477/EEC on control of the acquisition and possession of weapons. They require the notification to a competent authority in the UK of the holding or transfer of deactivated firearms. They come into force on 12^th December.

http://www.legislation.gov.uk/uksi/2019/1420/contents/made

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On 31^st October, FATF published the MER on the Philippines, following a review undertaken by FATF-style regional body, APG.  The onsite visit took place in November 2018.

http://www.fatf-gafi.org/media/fatf/documents/reports/mer-fsrb/APG-Mutual-Evaluation-Report-Philippines.pdf

On 31^st October, FATF advised that it is developing guidance to clarify how digital identity (digital ID) systems can be used for customer due diligence (CDD), with draft guidance intended to help governments, financial institutions and other relevant entities apply a risk-based approach to the use of digital ID for CDD.  FATF is consulting private sector stakeholders before finalising the guidance, and is inviting comments on 4 points:

1. Are there any specific money laundering / terrorist financing risks, that arise from the use of digital identity systems for CDD, other than those already mentioned in Section IV of the guidance?
2. What is the role of digital ID systems in ongoing due diligence or transaction monitoring?
3. How can digital ID systems support financial inclusion?
4. Does the use of digital ID systems for CDD raise distinct issues for implementing the FATF record-keeping requirements?

http://www.fatf-gafi.org/publications/fatfrecommendations/documents/consultation-digital-id-guidance.html

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On 31^st October, a news release from Eurojust advised that an Agreement between EU Member States, Norway and Iceland will apply as of 1^st November and will lead to an easier and faster surrender of suspects and convicted people, avoiding long extradition procedures, and ensuring that justice can be done faster.  Norway, Iceland and EU Member States must now, in principle, surrender their own nationals , if so requested, unless a declaration to the contrary is made by a given State.

http://eurojust.europa.eu/press/PressReleases/Pages/2019/2019-10-31.aspx

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https://enactafrica.org/interactive/videos-and-infographics/africas-main-drug-routes

On 30^th October, a news release from the UN reported that the STATE ORGANIZATION FOR IRRIGATION PROJECTS and the STATE ORGANIZATION FOR LAND RECLAMATION had been removed from list of persons and entities subject to sanctions.

https://www.un.org/press/en/2019/sc14005.doc.htm

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On 30^th October, Walker Morris published an article saying that the Law Commission reported in September that electronic signatures are valid; and that the law as it currently stands allows documents, including land contracts and deeds, to be executed with an electronic signature.  This was followed by a case in which it was held that a single ‘document’ can include a chain of e-mails and that an automatically-generated e-mail footer constituted a valid signature for the purposes of section 2 of the Law of Property (Miscellaneous Provisions) Act 1989.  Both the Law Commission and court case have confirmed that the test as to whether a document has been ‘signed’ is whether the name (or mark) was applied with authenticating intent.  It says that it is now more important than ever before that parties negotiating arrangements or agreements by e-mail – even including land contracts or other contracts with specific statutory signature requirements – understand the fundamental law of formation of contract, and appreciate that their automated e-mail signature could have a legally binding effect.

https://www.walkermorris.co.uk/publications/electronic-signatures-and-e-mail-footers-think-before-you-send/

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On 28^th October, HKTDC reported that all trade across Nigeria’s land borders has been prohibited, while sea and air entry points are unaffected. The ban was announced on 15^th October as an indefinite ban on all overland importation and exportation of goods with neighbouring countries of Benin, Chad, Niger, and Cameroon as part of efforts to tackle rampant food smuggling.  All goods must now pass through the country’s sea ports and airports, where scanners can verify whether goods are in compliance with relevant requirements.

http://economists-pick-research.hktdc.com/business-news/article/Economists-Pick-Regulatory-Alert-Middle-East-and-Africa/NIGERIA-All-Land-Border-Import-and-Export-Banned/ramea/en/1/1X34IXCX/1X0AJ07T.htm

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ABC News reported on 31^st October that Australian Federal Police had seized $17.3 million in property as part of an investigation into alleged money laundering by Chinese nationals.  It seized 6 properties in Melbourne’s east and more than 3,000 acres of farmland at Musselroe Bay on Tasmania’s north-east coast.  The operation followed a request in 2017 from the Chinese Ministry of Public Security for help to identify 2 Chinese nationals suspected of laundering proceeds of crime in Australia, with money said to have been raised in China through real estate and bank loan fraud and the 2 Chinese nationals having moved about $23 million of alleged proceeds of crime from China since late 2012.

https://www.abc.net.au/news/2019-10-31/afp-melbourne-tasmania-property-alleged-chinese-money-laundering/11657344

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