Day: April 16, 2020

On 15 April, a Commentary from RUSI says that, as the UK government prepares to use new sanctions powers to target those responsible for gross violations of human rights, it must ensure clear criteria for their use are established from the start.  It points out that the legislation which sets out the powers for UK sanctions after Brexit, includes specific provisions for human rights sanctions and that using sanctions to address gross human rights violations is not a new idea. The UK will join a small group of (Western) countries who have embraced so-called ‘Magnitsky’ sanctions regimes.

https://rusi.org/commentary/sanctioning-human-rights-choices-facing-britain

 

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Rowany AML Solutions Ltd in the Isle of Man has provided links to 2 guides produced by the NCA in the UK which highlight services that are at risk and outline red flags for the sectors to be alert to.

https://www.rowany.im/indicators-of-modern-slavery-and-human-trafficking-in-the-accountancy-sector

https://www.rowany.im/indicators-of-modern-slavery-and-human-trafficking-in-the-legal-sector

 

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On 16 April, OFAC published a factsheet highlighting the most relevant exemptions, exceptions, and authorisations for humanitarian assistance and trade under various sanctions regulations.  It also outlines specific guidance for OFAC-administered sanctions programmes related to personal protective equipment (PPE) and other Coronavirus Disease 2019 (COVID-19)-related humanitarian assistance and trade.​

https://content.govdelivery.com/accounts/USTREAS/bulletins/286d273

https://www.treasury.gov/resource-center/sanctions/Programs/Documents/covid19_factsheet_20200416.pdf

 

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Following the publication of the mutual evaluation report on South Korea, FATF has issued an updated version of its consolidated schedule of all AML/CFT assessment ratings.

http://www.fatf-gafi.org/media/fatf/documents/4th-Round-Ratings.pdf

 

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On 16 April, FATF published a report, adopted at the FATF Plenary in February, saying that South Korea has a sound legal framework to tackle money laundering and terrorist financing and to confiscate funds involved, but it needs to do more to stop government and public officials from laundering the proceeds of corruption.  A continuous risk assessment process is said to give the authorities a good understanding of the risks the country faces – and tax crimes, illegal gambling, fraud and corruption in particular, are the most important proceeds-generating crimes that present the highest money laundering risks.  Since its last assessment in 2008, South Korea has significantly strengthened its AML/CFT framework which is now delivering good results, but the country needs to strengthen the framework to address tax crimes, non-financial businesses and professions and politically exposed persons.

http://www.fatf-gafi.org/media/fatf/documents/reports/mer4/Executive-Summary-Mutual-Evaluation-Report-Korea-2020.pdf

http://www.fatf-gafi.org/media/fatf/documents/reports/mer4/Mutual-Evaluation-Report-Korea-2020.pdf

A news release from US Immigration and Customs Enforcement on 14 April advised that, in Georgia, Rong Sun, aka Vicky Sun, made her initial appearance on federal criminal charges for illegally importing and selling an unregistered pesticide, and mailing a prohibited article, as part of an online scheme offering the product for sale on E-bay while claiming, without any legal basis, the illegal pesticide would protect persons from coronavirus.  Federal law regulates the production, sale, distribution and use of pesticides. Pesticides are also required to be registered with the EPA, and the product offered by the defendant was not registered, and it is illegal to distribute or sell unregistered pesticides. In addition, Sun allegedly illegally imported the pesticide from Japan via the US Postal Service.

https://www.ice.gov/news/releases/ice-hsi-arrests-georgia-resident-selling-illegal-pesticide-claiming-it-protects

 

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