Month: November 2019

Various media on 30^th November reported that Federal prosecutors have charged a cryptocurrency expert, Virgil Griffith, 36, a US national who lives in Singapore, with violating economic sanctions against North Korea by presenting at a conference there after the US government denied his request to travel to Pyongyang.

https://www.stripes.com/news/pacific/us-says-cryptocurrency-expert-violated-north-korea-sanctions-1.609266

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 29^th November, Bellingcat reported on its EU Arms Project, a collaboration project which has documented, using open source, how European countries and companies have breached their own, and international, laws dozens of times.   It has documented where European arms end up after their export licences have been granted. It reports that the latest project shows where Spain has approved export licences for arms sold to countries such as Saudi Arabia, Morocco, and Nicaragua, and how those arms have been used in the facilitation of oppression or human rights violations.

https://www.bellingcat.com/news/uk-and-europe/2019/11/29/dangerous-goods-tracing-european-arms-used-in-oppression-and-human-rights-violations/

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 from OECD on 29^th November said that the global trade in fake goods, from cosmetics to car parts, is costing the UK economy billions of dollars a year in forgone company sales, overpriced products and tax revenues, and was behind more than 86,000 lost jobs in 2016, according to a new OECD report.  A new report estimates the value of counterfeit and pirated British goods sold worldwide at £16.2 billion in 2016, up from £13.4 billion in 2013 and equivalent to 3.3% of UK manufacturing sales.  UK goods particularly targeted by counterfeiters include perfumes, cosmetics, clothing, footwear, leather goods, telecoms equipment, electronic goods, cars and motorbikes.  It is said that more than half of the counterfeit and pirated goods imported to the UK were bought by people who knew they were buying fakes, and that most fake imports to the UK come from China, Hong Kong, Turkey, India, Pakistan and Bangladesh.

http://www.oecd.org/newsroom/trade-in-counterfeit-goods-costs-uk-economy-billions-of-euros.htm

The report is at –

http://www.oecd.org/governance/risk/trade-in-counterfeit-products-and-the-uk-economy-2019.htm

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

An article in ENACT Africa (which I would argue is essential reading) on 26^th November starts by saying that IFF are difficult to detect and prosecute when regulatory systems lack integrity, transparency, and accountability, and that Africa is estimated to lose billions of dollars annually to illicit financial flows – often driven by northern hemisphere countries (i.e. Europe, US and Canada).  The paper argues that international definitions, measures and regulatory frameworks are not always appropriate for the African context.  As such, a stronger understanding of how IFF are generated and moved and their impact is needed to better respond to African IFF and prioritise action against the flows and activities that are the most harmful.  As might be expected, it says that natural resource crimes are particularly immense and harmful.  The report points to the use of shell companies, trade-based money laundering (TBML), and the use of money value transfer systems (MVTS), arguing that there is a pressing need for greater political will and investment into responses which go beyond technical compliance with international standards.

The report contains an interesting chart comparing African nations’ ratings for technical compliance with FATF Recommendations, and the effectiveness ratings.  It also introduces one to the concept of “felqlan” or ‘flying money’.  This is an ancient Chinese MVTS which is thought to be enabling the multi-billion-dollar illicit environmental trade.  Similar to the hawala, it relies on a network of brokers which enables the trade of illicit commodities without money ever leaving China.  A study is said to have revealed that the system relies on the systematic under-invoicing of Chinese imports into Africa and a seamless chain-of-payments system in which accounts are settled through the transfer of high-end — and often illicit — goods such as abalone, rosewood, rhino horn and ivory.

https://enact-africa.s3.amazonaws.com/site/uploads/2019-11-26-african-illicit-financial-flows-012pdf.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

On 29^th November, RUSI published a report on a new study which sheds light on illegal, unreported and unregulated (IUU) fishing, showing how countries can tailor their specific strategies to combat this major security challenge.  It says that much IUU fishing takes place on a systematic and industrial scale for profit, with these large-scale operations increasingly recognised as a form of transnational organised crime.  However, there has been to date a collective failure, at a systemic level, to provide an adequate global response.  However, it says, little work has been done to assess the extent to which measures have effectively mitigated the role that transnational organised crime plays in the IUU fishing industry.  The report examines experiences in 5 countries: Indonesia; Thailand; Vietnam; Tanzania; and South Africa; and it outlines the key features of the multidimensional threat posed by organised, large-scale IUU fishing across these countries.  It points, in particular, to high levels of convergence between this and other crimes, adding further complexity to the nature of the challenge posed by IUU fishing.  It also considers the range of challenges encountered in bolstering legislative, regulatory and institutional frameworks, strengthening detection and interdiction capabilities, and enhancing investigation and prosecution.  Finally, it makes a number of recommendations offering specific guidance on tailoring existing approaches, based on the lessons derived from the study of these 5 countries.

https://rusi.org/sites/default/files/201911_whr_3-19_turning_the_tide_de_rivaz_web.pdf

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On 28^th November, the Daily Observer in St Maarten reported that the FATF-style regional body CFATF has issued a public statement noting St Maarten’s failure to comply with FATF standards. However, no consequences were imposed against the country just yet, according to Justice Minister Egbert Doran.  If the island does not approve the Penal Procedures Code and correct other deficiencies in its AML/CFT regulations it faces consequences.  The article says that, in the last 6 years, a total of 11 major laws were introduced to strengthen St. Maarten’s compliance framework.

https://www.thedailyherald.sx/islands/92843-cfatf-issues-statement-against-st-maarten-no-consequences-yet

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 28^th November, Lloyds List reported on presentations at the International Maritime Industries Forum in London that said that Insurance companies, including P&I clubs and flag states face increased pressure from the US government to comply with unilateral sanctions.  It is said that US bans on Iranian shipping, oil and petrochemical exports in place throughout 2019 have placed global shipping at the forefront of geopolitical unrest as companies and owners grapple with the trading and commercial implications.  One body said that the US State Department in meetings had made very clear that “they have a willingness to use every tool at their disposal to enforce their policy”.  It was reported that the world’s top-3 cargo liner companies have collectively employed more than 150 people to stay on top of sanctions compliance.  The Forum was also warned that, in response to US restrictions, Iran has quietly acquired a hidden fleet of ships to establish a shipping logistics chain for Iran-China flows, with ship-to-ship transfers becoming commonplace off Fujairah, Malaysia and Singapore, amid vessel name, flag and ownership changes.

https://lloydslist.maritimeintelligence.informa.com/LL1130196/Shipping-used-to-police-sanctions-forum-hears

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28^th November 2019

ECUADOR SPECIFIC TASK FORCE AND THE CUSTOMS SURVEILLANCE CORPS TO COMBAT COUNTERFEITING AND SMUGGLING

An article from Corral Rosales on 27^th November says that local production of counterfeits in Ecuador, especially luxury brands and electronic products, is low.  Therefore, most are manufactured outside Ecuador and their entry into the country is almost always illegal.  It says that the National Customs Service of Ecuador created the “Specific Task Force”, made up of inspectors of the highest rank and proven reputation inside and outside the institution.

http://www.mondaq.com/article.asp?articleid=867792

NEW UK LEGISLATION IN THE PIPELINE — WATCH LIST FOR CORPORATE CRIME LAWYERS

On 26^th November, BCL Solicitors produced a briefing saying that the October 2019 Queen’s Speech included a significant number of Bills impacting the work of corporate crime lawyers. It warns that the announced Bills may be resurrected dependent upon the result of the forthcoming General Election.  It highlights Brexit-related Bills that would have a knock-on effect, as well as others non-Brexit ones.  Implementation of the 5^th Money Laundering Directive is seemingly assured, but without continuing membership of Europol and Eurojust, Joint Investigative Teams and with changes (or loss?) of European arrest warrants – though the Extradition (Provisional Arrest) Bill is intended to plug at least part of the gap in relation to the latter.

http://www.mondaq.com/article.asp?articleid=867764

MALTA: 61 YORGEN FENECH-CONNECTED COMPANIES UNDER SCRUTINY BY FIAU

On 28^th November, KYC360 reported that the Financial Intelligence Analysis Unit has launched a massive hunt for information regarding any possible financial transactions made by former Tumas Group CEO Yorgen Fenech or any of the 61 companies connected to him over the past years.

https://www.riskscreen.com/kyc360/news/malta-yorgen-fenechs-61-connected-companies-under-scrutiny/

9 MORE ARRESTED IN YORKSHIRE OVER DUBAI MONEY-SMUGGLING PLOT

On 27^th November, the BBC reported that the number of people arrested in the case involving the transport of suitcases of cash to Dubai had now reached 23.  The further 9 were arrested after NCA raids in various parts of Yorkshire.  The NCA said £2.3 million has been seized as part of the wider investigation said to involve the money being exchanged for gold and converted back into cash, which is then transferred to bank accounts around the world.

https://www.bbc.co.uk/news/uk-england-50577158

CHINA’S ONCE-BOOMING P2P LENDING INDUSTRY MUST CLOSE WITHIN 2 YEARS

The South China Morning Post on 28^th November reported that the industry has been rocked by pyramid-scheme scandals and absent bosses, sparking public anger as well as a government crackdown; and only 427 P2P firms were still operating by the end of October, down from 6,000 at their 2015 peak.  A new notice says those left must become small loan providers within 2 years, and need to clear outstanding loans in less than 1 year (or 2 years for those with larger loan books) before switching to small loans.

https://www.scmp.com/economy/china-economy/article/3039715/p2p-chinas-once-booming-lending-industry-must-close-within

US-BASED SEMICONDUCTOR TECHNOLOGY GROUP MOVING TO SWITZERLAND OVER TRADE CURB FEARS

On 28^th November, Business World reported that a US-based foundation overseeing promising semiconductor technology developed with Pentagon support will soon move to Switzerland after several of the group’s foreign members raised concerns about potential US trade curbs – to ensure that universities, governments and companies outside the US can help develop its open-source technology.  The article quotes a former Clinton Administration official as saying that the foundation’s move from Delaware to Switzerland may foreshadow further technology flight because of US restrictions on dealing with some Chinese technology companies.

https://www.bworldonline.com/us-based-chip-tech-group-moving-to-switzerland-over-trade-curb-fears/

US ASSURES BANKS ON TRANSACTIONS WITH CHINA COMPANY AFFECTED BY IRAN SANCTIONS

On 28^th November, Business Standard reported that the Trump administration has assured US banks that they can temporarily process dollar transactions on Dalian units of Chinese shipping company COSCO, which it had previously sanctioned for allegedly transporting oil from Iran, in a move meant to blunt the impact of the sanctions on global shipping markets.

https://www.business-standard.com/article/international/us-assures-banks-on-transactions-with-china-firm-hit-by-iran-sanctions-119112800025_1.html

SUDAN MILITIA LEADER ALLEGEDLY PART OF ILLEGAL GOLD SALES

On 27^th November, Defence Web reported that a Reuters investigation is said to have found that even as militia chief Mohamed “Hemedti” Hamdan Dagalo sympathised with protesters in the recent coup that ousted the President al-Bashir, and was accusing Bashir’s people of enriching themselves at public expense, a company that his family owns was flying gold bars worth millions to Dubai.  It is claimed that, in 2018, Bashir gave Hemedti free rein to sell Sudan’s most valuable natural resource through the family firm, Algunade.  At times Algunade bypassed central bank controls over gold exports, at others it sold to the central bank for a preferential rate.  The article says that Hemedti’s grip on Sudan’s gold trade illustrates the scale of the challenge to rescue an economy broken by decades of mismanagement, corruption and war.

https://www.defenceweb.co.za/security/national-security/sudan-militia-leader-allegedly-part-of-illegal-gold-sales/

DOES AN EU SHIPOWNER NEED A SHIP RECYCLING POLICY?

On 26^th November, law firm HFW published a briefing saying that the entry into force of the European Ship Recycling Regulation 1257/2013 (the SRR) on 31^st December 2018 once again brought ship recycling back into the limelight; and recent prosecutions and investigations by national environment agencies into the activities of ship owners and insurers have reinforced the need for awareness of the complex regulations affecting the area.  The briefing sets out to consider why a ship recycling policy is essential for all prudent shipowners by first examining recent developments and then moving on to the regulatory landscape.

http://www.hfw.com/Do-I-Need-a-Ship-Recycling-Policy

US USES FAKE UNIVERSITY TO FIGHT VISA FRAUD

The Jerusalem Post on 28^th November reported that the US authorities used the fake University of Farmington to lure hundreds of international students in a fight against visa fraud.  The University offered a “pay to stay” scheme, whereby the “students” paid to enrol in order to maintain their student status to remain in the US.  8 people are alleged to have assisted for acting as “recruiters”, helping at least 600 to remain in the US under false pretences.

https://www.jpost.com/American-Politics/US-uses-fake-university-to-fight-visa-fraud-students-claim-innocence-609265

KAZAKHSTAN: EX-FIRST DEPUTY HEAD OF DEPARTMENT OF CRIMINAL-EXECUTIVE SYSTEM CONVICTED FOR BRIBERY

TAG News on 28^th November reported that the ex- first deputy head of department of criminal-executive system in the Kyzylorda region has been convicted for bribe taking.  He was of being bribed by his subordinate for patronage and promotion.

https://kaztag.kz/en/news/ex-first-deputy-head-of-department-of-criminal-executive-system-convicted-for-bribery-in-kyzylorda-r

CENTRAL BANK GOVERNOR: RISK AVERSION OF CORRESPONDENT BANKS IMPACTING HEAVILY ON MALTA

Following a recent statement on the subject by the St Lucia prime minister, on 28^th November, Malta Today reported that the central bank governor said that Maltese banks were facing a more rigorous and intrusive supervisory approach coupled with more rigorous standards of AML rules, and alternative products by fintech players which operate with a lower cost base and hail from a less intrusive regulatory environment.  He also said that said the risk aversion of correspondent banks was impacting more heavily on smaller jurisdictions like Malta.

https://www.maltatoday.com.mt/news/national/98835/governor_risk_aversion_of_correspondent_banks_impacting_heavily_on_malta

DELOITTE CANADA ACQUIRES CANNABIS CONSULTANCY

On 27^th November, ICAEW reported that Deloitte Canada has bought Ontario-based consultants, Cannabis Compliance Inc (CCI), in a major move that will see its growing cannabis consulting arm double in size.  It says that CCI was set up in 2017 ahead of Canada’s legalisation of cannabis for recreational purposes, and has become a trusted advisor to many Canadian cannabis leaders.

https://economia.icaew.com/news/november-2019/deloitte-canada-grows-its-own-cannabis-consultancy

NETHERLANDS DELAYS NON-EU EXPORTER RESTRICTIONS

On 25^th November, VAT Live reported that the Netherlands has postponed from 1^st December until 1^st April 2020 changes to prevent non-EU businesses acting as the exporter of record for customs declarations.  It also says that Germany, Belgium, Italy, Hungary, Spain, Latvia, Lithuania and the Czech Republic have already imposed the restriction or announced plans to do so.

https://www.avalara.com/vatlive/en/vat-news/netherlands-delays-non-eu-exporter-restrictions.html

THEFT OF £1 MILLION WORTH OF ADULT TOYS FROM A LORRY IN A LAYBY

On 28^th November, Commercial Motor reported on the theft of £1 million worth of adult toys from a lorry in a layby in September.  The lorry had travelled from Felixstowe and the driver had parked up in the layby for the night before taking the freight to sex toy manufacturer Rocks Off in Kettering.

https://www.commercialmotor.com/news/compliance/thieves-snatch-£1m-adult-toy-booty

US CUSTOMS SEIZES 154 POUNDS OF PROHIBITED BOLOGNA

On 22^nd November, the US Customs and Border Protection blog carried a post saying that Agriculture Specialists working at the El Paso area port of entry seized 14 rolls of Mexican bologna.  Bologna is a prohibited product because it is made from pork and has the potential for introducing foreign animal diseases to the US pork industry.

https://www.cbp.gov/newsroom/local-media-release/cbp-seizes-154-pounds-prohibited-bologna

US STATE DEPARTMENT AND PENTAGON TEAMS TO UAE AND SAUDI ARABIA TO INVESTIGATE CLAIMS THAT US-MADE WEAPONRY HAS BEEN TRANSFERRED TO REBEL FIGHTERS AND SEPARATIST MILITIA IN YEMEN

On 26^th November, CNN reported that the State Department and Pentagon are sending teams to the UAE and Saudi Arabia to investigate CNN’s findings that American-made weaponry has been transferred to rebel fighters and separatist militia in Yemen.  It was alleged that that US-made armoured vehicles (known as Mine-Resistant Ambush Protected vehicles, or MRAP) which were sold to the UAE and Saudi Arabia have been transferred – in violation of their agreements with Washington – to groups including al Qaeda-linked fighters, Iranian-backed rebels and separatist militias.

https://edition.cnn.com/2019/11/26/middleeast/us-yemen-investigators-sent-uae-saudi-arabia-intl/index.html

OVER $5 MILLION SEIZED IN GLOBAL OPERATION TARGETING CASH SMUGGLING

A WCO news release on 28^th November announced that 19 countries – all from the WCO Asia/Pacific region except for the US –  recently participated in a ground-breaking international operation, code-named TENTACLE, targeting the smuggling of cash and other valuables, and leading to over $3.7 million in cash being seized as well as approximately 28.5 kg of gold worth $1.3 million.  It ran in August-October 2019.  It was aimed detecting the movement of concealed or undeclared currency and bearer negotiable instruments, as well as gems and precious metals, which were being smuggled via commercial air and other cross-border transport modes.

http://www.wcoomd.org/en/media/newsroom/2019/november/over-5-million-us-dollars-seized-in-global-operation-targeting-cash-smuggling.aspx

GLOBAL TERRORISM INDEX 2019

The Institute for Economics and Peace has produced the 7^th edition of the GTI.  The report provides a comprehensive summary of the key global trends and patterns in terrorism over the last 50 years, covering the period from the beginning of 1970 to the end of 2018, and placing a special emphasis on trends since 2014, which corresponds with the start of the fall of Islamic State of Iraq and the Levant (ISIL).  It notes that deaths from terrorism fell for the fourth consecutive year, after peaking in 2014. The decline in deaths corresponds with the military successes against ISIL and Boko Haram.  Total deaths from terrorism are now down over 52% from their peak in 2014.  However, 103 countries recording at least one terrorist incident in 2018.  Other than the top country, Afghanistan, only 3 other countries recorded a substantial increase in deaths from terrorism in 2018: Nigeria, Mali, and Mozambique.  The global economic impact of terrorism was estimated at $33 billion in 2018, 38% lower than in 2017 – though terrorism is a small percentage of the total global cost of violence, which was equal to $14.1 trillion in purchasing power parity (PPP) in 2018.  It also says that one of the more worrying trends is the surge in far-right political terrorism over the past 5 years, although the absolute number of far-right attacks remains low when compared to other forms of terrorism; and far-right terrorism is also more likely to be carried out by individuals unaffiliated with a specific terrorist group.

http://visionofhumanity.org/app/uploads/2019/11/GTI-2019web.pdf

VIETNAM AML/CFT ASSESSMENT MUTUAL EVALUATION ON-SITE VISIT

On 27^th November, FATF-style regional body APG announced that the onsite visit for Vietnam’s 2^nd mutual evaluation was conducted from 4^th to 15^th November in Hanoi and Ho Chi Minh City.  Vietnam’s mutual evaluation report will be considered and adopted at the next APG Annual Meeting in July 2020.

http://www.apgml.org/news/details.aspx?pcPage=1&n=2155

FOREIGN INFORMATION REQUESTS RELATING TO TAX OFFENCES RECEIVED BY UK GOVERNMENT ROSE 44% LAST YEAR

The Law Society Gazette on 28^th November reported this rise in requests – from 103 in 2017 to 148 in 2018.  Requests can be for businesses or individuals to provide documents, such as transaction histories or bank statements, within a certain time period, or for people to give evidence in court.  A tax expert at Thomson Reuters is quoted as saying that tax authorities globally are increasingly working together to stamp out tax evasion.

https://www.lawgazette.co.uk/news/prosecutors-look-to-uk-to-tackle-tax-evasion/5102322.article

ANTIGUA PM LOBBIES FOR CFATF TO ASSIST SMALL ISLANDS TO IMPLEMENT AML/CTF POLICIES

On 28^th November, the Daily Observer in Antigua reported that, at the opening ceremony for the 50^th Caribbean Financial Action Task Force (CFATF) plenary and working group meetings the Prime Minister Gaston Browne spoke persuasively advocating for it to make considerations for small islands which do not have the resources to implement AML/CFT recommendations.  He said the small nations do not have to human or financial resources to carry out some of these recommendations but, because we do not wish to be blacklisted, they have to use resources that ordinarily would have been used in social and economic development.

https://www.antiguaobserver.com/pm-browne-lobbies-for-cfatf-to-assist-small-islands-to-implement-aml-ctf-policies

BANKS ARE EXPOSED TO RISING SWIFT PAYMENT MESSAGING FRAUD

On 28^th November, Retail Banker International reported that a new study had surveyed 200 banks, and found that two-thirds of banks said that fraud attempts have been increasing since 2016 – and only 40% of banks expressed confidence that they identified every electronic SWIFT fraud in the last 3 years.  It was also reported that found that the industry has incurred at least $380 million in combined losses due to SWIFT payment fraud.

https://www.verdict.co.uk/retail-banker-international/news/banks-exposed-to-rising-swift-payment-messaging-fraud

UK: MAN JAILED FOLLOWING MULTI-MILLION POUND MONEY LAUNDERING OPERATED BEHIND FRONT OF LEGITIMATE MONEY TRANSFER BUSINESS

A news release from Leicestershire Police on 28^th November reported on the 8-year jail sentence for Chauhan Vijay Yogendrasinh, 55, the director of Rushi Investments Limited – a company which appeared to be a legitimate money transfer service, but was actually found to be a money laundering operation transferring criminal money overseas.  It is said that more than £11,000,000 had gone through the business which was ran from Canon Street in Leicester, being a mix of legal and illegal funds.

https://www.leics.police.uk/news/leicestershire/news/2019/november/man-jailed-following-multi-million-pound-money-laundering

MALDIVES EX-PRESIDENT SENTENCED TO 5 YEARS IN PRISON FOR MONEY LAUNDERING

On 28^th November, the Malay Mail (and others) reported that a court in the Maldives had sentenced former Maldives president Abdulla Yameen to 5 years in prison for money laundering.  He had governed the Maldives with an iron hand for 5 years, before he unexpectedly lost an election last year and has since faced investigations over a number of deals sealed during his time in power.

https://www.malaymail.com/news/world/2019/11/28/maldives-ex-president-sentenced-to-five-years-in-prison-for-money-launderin/1814249

ILLEGAL CARIBBEAN CBI PAYMENTS FROM A NON-EXISTENT BANK “WERE FACILITATED BY SWITZERLAND”

On 28^th November, a post on Kenneth Rijock’s always interesting blog is about a New York court case involving the non-existent “Bank of Dominica” and where an Italian-American businessman, who holds a diplomatic passport from Dominica under a Citizenship by Investment (CBI/CIP) programme is suing over a a multi-million “finder’s fee” that he was allegedly denied.  It is claimed that money was transferred from Dominica, via Switzerland, to the UAE, despite the Dominica “bank” being bogus.

http://rijock.blogspot.com/2019/11/new-york-court-case-exposes-how-illegal.html

 RUNAWAY POLITICIAN ACCUSED OF GRAFT TO RETURN TO UKRAINE

On 28^th November, OCCRP reported that Oleksandr Onyshchenko, a wealthy Ukrainian lawmaker and Olympic show jumper, who fled the country after he was accused of corruption 3 years ago, is said to be planning to return in December and face charges of fraud and money laundering.  It is reported that Ukrainian authorities announced in November they were close to getting Onyshchenko extradited from Spain in December.

https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/11223-runaway-politician-accused-of-graft-to-return-to-ukraine

ROMANIAN FUGITIVE FORMER CHIEF PROSECUTOR RE-SENTENCED TO 4 YEARS

On 28^th November, OCCRP reported that Alina Bica, Romania’s fugitive former chief prosecutor has lost her final appeal in a corruption case and has been sentenced to 4 years in prison.  However, having already fled to Costa Rica, she is nowhere to be found.  She had been detained in Costa Rica, but then released after an extradition request was cancelled.

https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/11221-romanian-fugitive-ex-chief-prosecutor-re-sentenced-to-4-years

UK WILL TAKE BACK 42 CONTAINERS OF WASTE SENT TO MALAYSIA ILLEGALLY

On 28^th November, Insurance Marine News reported that the UK is to take back 42 containers filled with plastic waste that had been illegally shipped to Malaysia.  The article reminds one that, after China imposed a ban on scrap imports, Malaysia last year became the world’s main destination for plastic waste.  Last month Reuters reported that more than 300 containers carrying plastic waste were being held at Penang. Malaysia said earlier this year that it would send plastic waste back to the source country, and get them to pay for the transportation costs.

https://insurancemarinenews.com/insurance-marine-news/uk-will-take-back-42-containers-of-waste-sent-to-malaysia-illegally/

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 December Order Paper for the Isle of Man’s parliament includes the annual report from the GSC.  Amongst (many) other things, it mentions that the new Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Code 2019 came into effect in June 2019.  The new Code replaces a 2013 Code and also applies to terrestrial gambling operators that previously came under the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Code 2015.  It is said that the new Code was chiefly to address shortcomings identified through the Island’s National Risk Assessment and MONEYVAL evaluation but other changes have been included to help modernise and simplify the legislation.

http://www.tynwald.org.im/business/opqp/sittings/20182021/2019-GD-0091.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

The Order Paper for the December sitting of the Island’s parliament includes a number of Orders as well as the Anti-Money Laundering and Countering the Financing of Terrorism (General and Gambling) (Amendment) Code 2019-

• Proceeds of Crime Act (Compliance with International Standards) (No. 3) Order 2019 – would align tipping-off legislation so that it is commensurate with the FATF Recommendation 21, together with amendments and the offence of prejudicing an investigation being aligned with that of “tipping off”. The Order is another that addresses an issue which was identified in MONEYVAL’s Mutual Evaluation Report.  Other amendments are intended to assist with the legitimate disclosure of information within group companies and financial institutions.
• Proceeds of Crime (Financial Institution) Order 2019 – another part of a package of measures that seek to address an issue which was identified in MONEYVAL’s Mutual Evaluation Report, this Order, and linked to the above, defines “financial institution” for the purposes of sections 145 to 148; it also revokes the redundant Proceeds of Crime (Money Laundering: Permitted Disclosures) (Credit Institutions and Financial Institutions) Order 2009.
• Proceeds of Crime (Meaning of Group) Order 2019 – a further part of a package of measures that seek to address an issue which was identified in MONEYVAL’s Mutual Evaluation Report, this Order defines a “group” in respect of permitting the legitimate disclosure of information within group companies.
• Anti-Terrorism and Crime Act (Compliance with International Standards) Order 2019 – yet another part of a package of measures that seek to address an issue which was identified in MONEYVAL’s Mutual Evaluation Report, this Order provides for a “tipping off” offence under the Anti-Terrorism and Crime Act 2003 which is the equivalent of that found in the Proceeds of Crime Act 2008. Then, having done that, it makes further amendments to the Anti-Terrorism and Crime Act 2003 that correspond to those made to the Proceeds of Crime Act 2008 by the first of the Orders listed here.
• Anti-Money Laundering and Countering the Financing of Terrorism (General and Gambling) (Amendment) Code 2019 – the amendments in this measure seek to address some of the remaining technical deficiencies relating FATF Recommendation 23 (DNFBPs: Other Measures), being the only Recommendation for which the Island remains marked as “Partially Compliant” by MONEYVAL following its Mutual Evaluation Report. The changes made are designed to be included in the 3^rd Enhanced Follow-Up report, which is required to be submitted to MONEYVAL in early January 2020.  The substantive changes are made in respect of the FSA, to requirements of Recommendation 23 regarding the implementation of group-wide AML/CFT policies to foreign branches and subsidiaries, and in respect of the GSC, where the relevant AML/CFT Code, whilst requiring the appointment of a Compliance Officer by licence-holders, did not categorically stipulate it must be an appointment at managerial level.

http://www.tynwald.org.im/business/opqp/opqp/2019-PP-0161.pdf

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