FATF PUBLISHES AML/CFT MUTUAL EVALUATION ASSESSMENT REPORTS ON BERMUDA AND THE TURKS AND CAICOS

On 31 January, FATF published the reports on these two jurisdictions undertaken by the FATF-style regional body, CFATF.

Bermuda ratings –bermuda

Turks & Caicos ratings –

turks

http://www.fatf-gafi.org/media/fatf/documents/reports/mer-fsrb/CFATF-Mutual-Evaluation-Report-Bermuda-2020.pdf

http://www.fatf-gafi.org/media/fatf/documents/reports/mer-fsrb/CFATF-Mutual-Evaluation-Report-Turks-Caicos-Islands.pdf

 

RUSI SUSPICIOUS TRANSACTION REPORT PODCAST

In the latest AML podcast from RUSI the host Isabella Chase is joined by guests to discuss the most recent money laundering leaks, UK-linked financial crime cases, and the impact that Brexit will have on the financial crime landscape. In the deep dive, she discusses the UK’s Economic Crime Plan with an Associate Fellow at RUSI’s Centre for Financial Crime and Security Studies, Helena Wood.  Amongst the topics covered are the Luanda Leaks, UK sanctions after Brexit and the UK Economic Crim Plan, as well as the second-largest money laundering scheme ever uncovered in Northern Ireland (which highlights known weaknesses in due diligence in banks, company formation and money service businesses).

https://www.rusi.org/multimedia/episode-10-leaks-links-and-brexit

IRAN SANCTIONS: OFAC DELETES A NUMBER OF SHIPPING COMPANIES AND MAKES OTHER AMENDMENTS TO SANCTIONS LIST

On 31 January, OFAC announced the removal of 7 COSCO and Dalian shipping companies from its sanctions lists.  At the same time 1 Chinese individual, Yazhou XU, has been removed from the lists, and the entry for 1 Iranian national, Ali Akbar SALEHI, has been amended.  The US lifted sanctions on 1 of 2 units of the Chinese tanker company COSCO, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20200131.aspx

https://www.hellenicshippingnews.com/u-s-lifts-iran-sanctions-on-one-unit-of-chinese-shipping-giant-cosco/