Panama covid-19 update – 187 new confirmed cases, bringing total to 1,988, with 54 fatalities to date. This was the first total shutdown Sunday, with no-one out and about. Mind you, the TV shows some arrests, including a rooftop BBQ and pool party, for violating the lockdown. There’s no accounting for some people’s idiocy and ignorance…
5 April 2020
THE 4 e-KYC MODELS AROUND THE WORLD
On 5 April, Regulation Asia published an article identifies 4 e-KYC models in use across the world, saying that harmonisation and consolidation of these schemes is likely. The 4 types identified are –
- Identity Authentication & Matching: The Hong Kong model;
- Video Verification: The German model;
- Digital ID Schemes: The Swedish and Indian models; and
- Enhanced vs Simplified Due Diligence: The UK model.
UK: FORMER HEARTS OWNER VLADIMIR ROMANOV ACCUSED OF STEALING AROUND £37 MILLION FROM HIS OWN BANK FOLLOWING 7-YEAR FRAUD PROBE
On 4 April, the Scottish Sun reported that the Russian-born tycoon, 72, former owner of Edinburgh-based Hearts football club, is one of 13 former Ukio Bankas officials now named as suspects in the alleged embezzlement. Lithuanian prosecutors allege that Romanov and other bank execs abused their positions of trust over many years by “issuing loans for private purposes”. All the suspects have been charged with money laundering and misconduct in a public office. However, Romanov, who held 65% of the shares in Ukio Bankas, fled to Russia in May 2013 and was granted asylum, and attempts to extradite him have failed.
BENIN EX-FINANCE MINISTER GETS 20 YEARS IN PRISON FOR FRAUD
On 5 April, BNN Bloomberg reported that Komi Koutche, 43, a former finance minister in Benin, was sentenced to 20 years in prison for money laundering and embezzlement of state funds. State funds went missing during his time as director for the state-owned National Micro-Credit Fund.
Koutche currently lives in the US and was sentenced in absentia.
LISBON COURT SEIZE $444 MILLION OF SHARES OWNED BY EMBATTLED ISABEL DOS SANTOS
On 5 April, CGTN reported that a court has seized a 26% stake in Portuguese telecommunications company NOS from a holding company that is co-owned by Isabel dos Santos, the daughter of the former Angola president and reputedly Africa’s richest woman. Angolan courts froze her assets in December, alongside those of her husband, after it was alleged that they took part in deals with state-owned companies that ended in government losses of $1.14 billion.
FORMER HONDURAS PRESIDENT EMBROILED IN FIFA GRAFT CASE DIES
Bernama on 5 April reported that he former Honduras president, Rafael Callejas, 76, has died in the US whilst under house arrest in Atlanta. After serving as president of Honduras from 1990 to 1994, Callejas moved into football administration and headed the Honduras Football Federation from 2002 to 2015. He was indicted by the US DoJ in 2015 and pleaded guilty to racketeering and wire fraud charges in a New York court.
CHINA’S LUCKIN COFFEE SAYS BUSINESS WILL CONTINUE AMID FINANCIAL FRAUD PROBE
On 5 April, Reuters reported that Luckin Coffee Inc, the Starbucks of China, said it will maintain normal operations at its stores and apologised to the public, days after it announced an internal investigation had shown its chief operating officer and other employees fabricated sales deals.
FREE ONLINE WEBCASTS ABOUT GOLD – REFINERS AS GATEKEEPERS AND CONFLICT AND HIGH-RISK GOLD
LBMA, the London Bullion Marketing Association, a trade body whose membership includes traders, refiners, producers, miners, fabricators, as well as those providing storage and secure carrier services. It has launched a new service, providing free online webcasts, of around 24 minutes, with the first 2 covering –
- key issues that gold refineries are currently facing, including the current tendency of de-risking amongst refineries, and asking what due diligence efforts can reasonably be expected of refineries and what would be the role of industry organisations; and
- the issue of conflict and high-risk gold; discussing the many ways in which conflict gold can be easily smuggled and stresses that more needs to be done by the industry to focus on the red flags in responsible sourcing when conducting due diligence reports
If you’d like to help me buy that (badly needed) new laptop or, even better, a new desktop to replace the one now 5,000 miles away – https://www.buymeacoffee.com/KoIvM842y