OTHER THINGS YOU MAY HAVE MISSED – JULY 8

Panama Covid-19 update – another 960 cases (41,251 to date), with another 20 fatalities (819 to date), with 743 more people “recovered”, and 158 in ICU and 860 in other wards.  In Panama, the daily news reports detail the ages of those affected, where they are located, and what complications etc those who have died suffered from.  For example, in the last 24 hours, the 960 new cases came mostly from the lower-risk age groups (424 for ages 20-39, 328 40 to 59 and 89 under 20 years old), with 98 in the over-60s.  Of the 20 fatalities, 2 were in the 20-39 age group, 3 in the 40-59 group, 10 in 60-79 age group and 5 were 80+. So, it would seem, from this figures, the majority of new cases were from the lower-risk groups, but the majority of deaths were in the higher-risk age groups…

8 July 2020

ARGENTINA AIDE WHO TESTIFIED IN KIRCHNER CORRUPTION CASE IS FOUND MURDERED

On 8 July, KYC 360 reported a Times story that Fabián Gutiérrez, 48, a former private secretary to Argentina’s vice-president has been murdered, fuelling speculation that he was targeted for being a whistleblower in a corruption case.

https://www.thetimes.co.uk/article/argentina-aide-fabian-gutierrez-who-testified-against-kirchner-is-found-murdered-5x55x5pkf

OECD NEW REPORTING FRAMEWORK FOR THE GIG ECONOMY

On 7 July, Financial Management reported that the OECD has released model rules that would require digital platforms to report information to tax authorities about platform users’ income from offering accommodation, transport, and personal services. They are designed to help those in the gig and sharing economy “in being compliant with their tax obligations” and ensure a level playing field with traditional businesses, according to OECD.

https://www.fm-magazine.com/news/2020/jul/oecd-reporting-framework-for-gig-economy.html

The model rules are at –

http://www.oecd.org/ctp/exchange-of-tax-information/model-rules-for-reporting-by-platform-operators-with-respect-to-sellers-in-the-sharing-and-gig-economy.pdf

US INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC) TO SUPPORT NUCLEAR POWER PROJECTS

On 8 July, Real Clear Energy reported that, in June, the DFC has given notice of a proposed change to the agency’s Environmental and Social Policy and Procedures that would remove the prohibition on support of nuclear power projects.  The article says that removal of the ban on nuclear project finance provides an opportunity for the US to push back on Russian and Chinese dominance in third-party countries while simultaneously supporting development objectives.

https://www.realclearenergy.org/articles/2020/07/08/lifting_the_dfc_nuclear_finance_ban_supports_us_national_security_interests_498455.html

COMPLIANCE WITH CANADIAN SANCTIONS LAWS

On 8 July, an article from Miller Thomson LLP says that under Canadian and international law, there are a variety of sanctions laws that apply to all individuals and businesses in Canada and to all Canadian citizens and Canadian-incorporated businesses operating outside of Canada. Understanding the restrictions and your obligations on lenders are essential. It provides an overview of Canadian economic sanctions law, lender due diligence reference materials and other restrictions on Canadian business.

https://www.millerthomson.com/en/publications/communiques-and-updates/financial-services-restructuring-communique/july-7-2020-fsi/lender-know-your-client-diligence-compliance-with-canadian-sanctions-laws

US: 81 CARS WORTH $3.2 MILLION SEIZED IN VENEZUELA SMUGGLING OPERATION

On 8 July, NBC Miami reported that some of the vehicles were equipped with police equipment such as lights and sirens and are said to be intended for the Venezuelan National Police. The vehicles seized were purchased by straw buyers and were destined to be illegally shipped to Venezuela as part of an international car smuggling operation but were seized in South Florida

https://www.nbcmiami.com/news/local/feds-seize-81-cars-worth-3-2-million-in-venezuela-smuggling-operation/2259349/

INDIA: EVERYTHING YOU WANTED TO KNOW ABOUT KERALA GOLD SMUGGLING ROW

On 8 July, News 18 India published an article providing background to the seizure of 30 kg of gold that landed in “diplomatic baggage” by air cargo.

https://www.news18.com/news/india/nuggets-of-key-information-everything-you-wanted-to-know-about-kerala-gold-smuggling-row-2707295.html

NEW REPORT SAYS DUBAI IS A ‘HAVEN FOR MONEY LAUNDERING’

On 8 July, TRT World reported that UAE’s unwillingness to tackle corruption and money laundering, is a global challenge that must be addressed, according to a US think tank.  Dubai is one of the 7 emirates that make up UAE, and has built its reputation on becoming a regional business hub in the Middle East. It notes that previously the NGO Transparency International Dubai has described Dubai as having become an active global hub for money laundering … where the corrupt and other criminals can go to buy a luxurious property with no restrictions.

https://www.trtworld.com/magazine/new-report-says-dubai-is-a-haven-for-money-laundering-37970

GIBRALTAR: YACHT SEIZED IN ONGOING OPERATION INTO MONEY LAUNDERING & DRUG TRAFFICKING

On 8 July, GBC in Gibraltar reported that a Gibraltar-registered yacht has been seized by police following ongoing operation into money laundering and cross border drug trafficking.

https://www.gbc.gi/news/locally-registered-yacht-seized-rgp-following-ongoing-operation-money-laundering-cross-border-transn

PODCAST: IMPRISONED IN CHINA: PETER HUMPHREY’S STORY

In the latest TRACE podcast, an interview with Peter Humphrey and his wife, who were well-respected compliance professionals active in China when they were arrested, tried and imprisoned for 2 years.

https://traceinternational.org/resources-podcast

US VISA RESTRICTIONS ON PRC GOVERNMENT AND CHINESE COMMUNIST PARTY OFFICIALS OVER TIBET

A news release from the US State Department on 7 July announced visa restrictions on government and Chinese Communist Party officials determined to be “substantially involved in the formulation or execution of policies related to access for foreigners to Tibetan areas,” pursuant to the Reciprocal Access to Tibet Act of 2018.

https://www.state.gov/implementing-visa-restrictions-under-the-reciprocal-access-to-tibet-act/

EU TO DISCUSS PEOPLE-SMUGGLING WITH AFRICAN STATES

On 8 July, EU Observer reported that ministers from Algeria, Libya, Mauritania, Morocco and Tunisia will be attending a conference to tackle human smuggling and hosted by Italy. The hope is that the outcome of this conference will be that we can build partnerships to fight human smuggling.

https://euobserver.com/tickers/148883

‘TORTURE CHAMBER’ FOUND IN DUTCH SEA CONTAINERS

On 8 July, EU Observer reported that Dutch police have arrested 6 men after discovering sea containers converted into a makeshift prison and sound-proofed “torture chamber”. It is said to give an insight into the increasingly violent Dutch criminal underworld, which is involved in the large-scale production and trafficking of drugs.

https://euobserver.com/tickers/148882

https://www.theguardian.com/world/2020/jul/07/dutch-police-arrest-six-men-after-discovery-of-torture-chamber

EU: PROJECT FOR THE DEVELOPMENT OF AN INTERNATIONALLY RECOGNISED SYSTEM FOR THE VALIDATION OF ARMS AND AMMUNITION MANAGEMENT ON THE BASIS OF OPEN INTERNATIONAL STANDARDS

EU Council Decision 2020/979/CFSP said that the EU will support a project for establishing the feasibility of the development of a voluntary internationally recognised system for the validation of arms and ammunition management on the basis of open international standards. The first phase is for a feasibility study into the development of an Arms and Ammunition Management Validation System (AAMVS) to investigate options for appropriate methodologies and tools for the assessment of risk and quality. An expert working group (EWG) is to be created to support and review the feasibility study and to raise awareness of the project. The project is intended to take 2 years.

https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32020D0979&from=EN

EU COURT DISMISSES APPEAL BY BRAZILIAN MEAT PRODUCERS OVER IMPORT BAN ON PUBLIC HEALTH GROUNDS

A news release from the EU on 8 July advised that the EU General Court had dismissed action brought by 2 Brazilian meat producers seeking the annulment of the EU Regulation prohibiting, for public health reasons, the export to the EU of certain products of animal origin from establishments belonging to those producers. The producers had been delisted on the ground that the Brazilian authorities had not provided, in respect of those establishments, the requisite guarantees concerning compliance with public health rules on importing the products at issue.  There had also been cases of fraud detected in March 2018, in Brazil, during the laboratory certification of the meat and meat products exported to the EU.

https://curia.europa.eu/jcms/upload/docs/application/pdf/2020-07/cp200083en.pdf

WORKER EXPLOITATION IN UK CLOTHING SUPPLY CHAINS

On 8 July, an Insight from the House of Commons Library said that campaign groups argued that poor working conditions in garment factories in Leicester contributed to the spread of the Covid-19 virus and the subsequent renewed lockdown in that city. It has been reported that the NCA has been asked to investigate for modern slavery in certain Leicester garment factories. The Insight discusses exploitation in UK garment factories, how workers’ rights are enforced, and the calls to make companies responsible for rights violations in their supply chains.

https://commonslibrary.parliament.uk/economy-business/work-incomes/worker-exploitation-in-uk-clothing-supply-chains/

https://www.nationalcrimeagency.gov.uk/news/nca-statement-on-modern-slavery-allegations-in-leicester?src=ilaw

edps

https://edps.europa.eu/sites/edp/files/publication/20-01-28_edps_quickguide_en.pdf

INDIA: GANDHI FAMILY TRUSTS FACING GOVERNMENT PROBES

On 8 July, Business Today in India reported that the probe will primarily focus on money laundering, manipulation in declaration and filing of income tax and foreign money angles. It says that the trusts under scrutiny are the Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gandhi Memorial Trust. The family says the investigation is politically motivated.

https://www.businesstoday.in/current/economy-politics/3-gandhi-family-trusts-to-face-probe-govt-forms-investigation-panel/story/409268.html

https://bangaloremirror.indiatimes.com/news/india/home-ministry-orders-probe-into-funding-of-trusts-run-by-gandhi-family-congress-calls-it-political-vendetta/articleshow/76857163.cms

PALESTINIAN AUTHORITY POLICE ARREST TOP ANTI-CORRUPTION ACTIVIST

The Jerusalem Post on 8 July reported that security forces had arrested prominent anti-corruption activist Fayez Sweiti after he complained about unequal distribution of financial aid to Palestinians. The financial aid was being distributed by the Wakfet Izz Fund, a national fund established by the PA government to face the ramifications of the coronavirus pandemic in the West Bank and Gaza Strip.

https://www.jpost.com/middle-east/palestinian-authority-police-arrest-top-anti-corruption-activist-634289

THE VENEZUELA OIL AND GAS INDUSTRY

On 8 July, a feature in Forbes took a detailed insight into the state of the Venezuelan oil and gas industry in the light of the collapse of the oil industry and the economy (and US sanctions) in Venezuela which has left the country in a humanitarian, institutional, and political crisis like no other in recent history. It is said that data suggests that, in June, not a single oil rig was in operation – with limited oil storage, PDVSA has been forced to shut down several wells. Venezuela’s oil woes also affect the domestic energy market, which suffers from a chronic shortage of gasoline, diesel, and natural gas, and problems in the energy sector are just a glimpse of the overall state of the country, where high inflation levels and a dramatic fall in economic activity have persisted for several years. The article refers to a new report – “Venezuela and its Calamities: Add Covid-19 to the List” – from the Baker Institute at Rice University. That report says that, despite its massive geological endowment and receiving what could be considered the largest windfall in its economic history, Venezuela entered 2020 in the middle of an unprecedented economic crisis. The Covid-19 pandemic and turbulence in oil markets represent the latest in a string of problems that expose the country’s vulnerability.

https://www.forbes.com/sites/thebakersinstitute/2020/07/08/venezuela-sells-but-whos-buying

The report is at –

https://www.bakerinstitute.org/files/16074/

MONACO COURT UPHOLDS CASE DISMISSAL AGAINST ART DEALER ACCUSED OF DEFRAUDING RUSSIAN OLIGARCH

On 8 July, Reuters reported that a Monaco court has upheld an earlier ruling dismissing a case against a prominent art dealer, Yves Bouvier, accused by a Russian oligarch, Dmitry Rybolovlev – owner of Monaco’s soccer team, of fraud and money laundering.  Bouvier still faces criminal proceedings brought by Rybolovlev in Geneva, where he is also charged with fraud, abuse of trust and money laundering.

https://uk.reuters.com/article/uk-oligarch-monaco-lawsuit/monaco-court-upholds-case-dismissal-against-art-dealer-accused-of-defrauding-russian-oligarch-idUKKBN2492GK

UK: WEALTHY HULL BUSINESSMAN COMMITTED £300,000 FRAUD TO ‘FAN HIS OWN EGO’

On 8 July, the Hull Daily Mail reported that Marc Hackney, 52, had set up his successful wealth management company, Vobis, in 2009 and built up an A-list client base of celebrities and sports stars. However, being a director at the Hull KR rugby club put a financial strain on him but he did not want to give up his dream position on the board and began to hatch a plot to gain the liquidity he needed. After taking on the management of a client’s charitable foundation set up to help fund Great Ormond Street Hospital and Cancer Research in 2018 he set up a bank account which allowed him to make withdrawals from the foundation and, not only failed to consult with the other trustee, but even forged her signature.

https://www.hulldailymail.co.uk/news/hull-east-yorkshire-news/wealthy-hull-businessman-fraud-ego-4303759

US NATIONAL CARGO BUREAU (NCB) REPORTS ‘ALARMING’ LEVEL OF MISDECLARED DANGEROUS CARGO

On 8 July, Lloyds Loading List reported that recent inspection initiative by NCB found more than half of containers non-compliant, 43% failing to secure dangerous goods correctly, and more than 6% of containers carrying dangerous cargo misdeclared, and more than 6% of containers carrying dangerous cargo misdeclared. It is said that a NCB white paper called for industry “to adopt a comprehensive, holistic and coordinated approach to address this worrying trend” and called for “urgent reform to stem the increasing number of container-related incidents caused by poorly stowed, undeclared or misdeclared dangerous cargoes”.

https://www.lloydsloadinglist.com/freight-directory/news/NCB-reports-%E2%80%98alarming%E2%80%99-level-of-misdeclared-dangerous-cargo/76938.htm#.XwXyK-WSmM8

http://www.natcargo.org/NCB-press-release-dangerous-cargoes.htm

The White Paper is available at –

http://www.natcargo.org/Holistic_Approach

http://www.natcargo.org/Holistic-Approach-For-Undeclared-Misdeclared-And-Other-Non-compliant-Dangerous-Goods_White-Paper-by-NCB.pdf

TRANSPORTED ASSET PROTECTION ASSOCIATION (TAPA) AND STANDARDS BODY BSI JOIN UP TO BOOST CARGO SECURITY STANDARDS

On 8 July, Lloyds Loading List reported that the idea behind the link-up is to support the digital transformation of its supply chain Security Standards audit processes and to increase its members’ access to new levels of risk management intelligence and incident data. It is also said that, in addition to auditing services, BSI and TAPA will exchange supply chain security intelligence and BSI will also provide subject matter experts for TAPA webinars and other member events and communications. TAPA and BSI will also look to develop joint research opportunities, following the publication of their ‘Last Mile Cargo Theft Report’ earlier this year.

https://www.lloydsloadinglist.com/freight-directory/news/TAPA-and-BSI-link-up-to-boost-cargo-security-standards/76945.htm#.XwXyNeWSmM8

OECD: NEW CORPORATE TAX STATISTICS PROVIDE FRESH INSIGHTS INTO THE ACTIVITIES OF MULTINATIONAL ENTERPRISES

A news release from OECD on 8 July advised that new data provides aggregated information on the global tax and economic activities of nearly 4,000 multinational enterprise (MNE) groups headquartered in 26 jurisdictions and operating across more than 100 jurisdictions worldwide. It explains that under the BEPS programme large MNE are required to disclose important information about their profits, tangible assets, employees as well as where they pay their taxes, in every country in which they operate. Country-by-Country reports (CbCR) provide tax authorities with the information needed to analyse MNE behaviour for risk assessment purposes.

A list of FAQ about CbCr is also available at –

http://www.oecd.org/tax/tax-policy/corporate-tax-statistics-country-by-country-reporting-FAQs.pdf

http://www.oecd.org/newsroom/new-corporate-tax-statistics-provide-fresh-insights-into-the-activities-of-multinational-enterprises.htm

BELGIUM IMPORTS: LOCKDOWN DID NOTHING TO STIFLE DRUGS TRADE

On 8 July, the Brussels Times reported that Customs authorities seized a total of 28.865 tonnes of illegal drugs in the first 6 months of 2020 – 5 tonnes more than in the same period in 2019.  Customs has seized record quantities of cocaine in the port of Antwerp for 7 years in a row – an increase of 660% since 2013.  South America remains the predominant source of drugs headed for Antwerp, led by Ecuador (10,700 kg), Brazil (5,214 kg) and Paraguay (4,478 kg), followed by the US (1,485 kg) and Costa Rica (1,287 kg).

https://www.brusselstimes.com/all-news/120705/us-withdrawal-from-who-weakens-fight-against-coronavirus-china-says/

THE ABANDONMENT OF ENVIRONMENTAL FINES FOR ILLEGAL DEFORESTATION IN BRAZIL HAS SPARKED A POLITICAL SCANDAL

On 8 July, an article in Insight Crime says that the scandal involves a cabinet minister potentially being removed from office and state governments breaking with the policies of President Jair Bolsonaro. The country’s Attorney General’s Office has called for the Environment Minister to be dismissed.  It is alleged that he had deliberately reduced the number of environmental fines issued to their lowest in 20 years while seeing forest fires grow to record levels, and he fired environmental inspectors after they carried out successful raids against criminal group. In April 2019, President Bolsonaro had issued a decree, allowing those given fines to avoid paying them by engaging in unspecified “environmental recovery and protection actions”. However, it is said that there are signs the Bolsonaro government is beginning to feel increased pressure on the environmental front and, in May, thousands of army troops were deployed across the Amazon to fight deforestation.

https://www.insightcrime.org/news/brief/environmental-brazil-deforestation-crisis/

IRELAND INTRODUCES CENTRAL BENEFICIAL OWNERSHIP REGISTER FOR SOME INVESTMENT FUNDS

An article from out-Law on 8 July was concerned with the Central Bank of Ireland being made the registrar of beneficial ownership for certain collective investment funds.

https://www.pinsentmasons.com/out-law/news/ireland-introduces-beneficial-ownership-register-investment-funds

UK: STUN GUN IMPORTS, WHAT OFFENCE HAS BEEN COMMITTED?

On 8 July, the Police National Legal Database published legal advice for a situation where a stun gun disguised as a torch has been intercepted prior to arriving at its desired destination. Though clearly a “section 5” prohibited firearm, , due to the item never reaching the desired location, is there a power to arrest for importing the item?

https://www.pnld.co.uk/your-legal-questions-answered/a-stun-gun-has-been-intercepted-by-ukba-what-offence-has-been-committed/

TOYS CONTINUE TO TOP EU LIST OF DANGEROUS PRODUCTS

EU Business reported that latest the latest EU report on its alert system to prevent the selling of dangerous products flagged up a record number of dangerous products in 2019, with toys and cars heading the list.  under the EU’s ‘Rapid Alert System’ the number of actions taken by authorities following an alert is growing year on year, reaching 4,477 in 2019 compared to 4,050 in 2018.  Toys were the most notified product category (29% of total notifications), followed by motor vehicles (23%), and electrical appliances and equipment (8%). Cosmetics, clothing, textiles and fashion items, as well as childcare articles and children’s equipment also had a high number of alerts.

https://www.eubusiness.com/news-eu/dangerous-products.77jd

US: FIRST CFTC ENFORCEMENT ACTION TARGETING ACTIVITY DIRECTLY TIED TO COVID-19

A release on Mondo Visione on 8 July advised that the Commodity Futures Trading Commission has filed a complaint in Texas against James Frederick Walsh of Florida, charging him with fraudulent solicitation and failure to register with the CFTC. Walsh’s fraudulent solicitations include falsely claiming to generate increased profits as a result of the COVID-19 pandemic. The complaint alleges that from at least September 2019, Walsh fraudulently solicited members of the public for the purported purpose of trading foreign currency (forex) for them. It is also claimed that Walsh falsely represented that he was earning even greater trading profits now that the COVID-19 pandemic had impacted the financial markets.

https://mondovisione.com/media-and-resources/news/cftc-charges-florida-man-for-attempting-to-fraudulently-profit-from-covid-19-f/

BREXIT: UK HAS SUBMITTED APPLICATIONS TO THE EU TO CREATE BORDER CONTROL POSTS (BCP) AT NORTHERN IRELAND PORTS

On 8 July, Hellenic Shipping News reported that BCP are facilities used to check animals and food arriving in the EU Single Market. At the end of the Brexit transition on 1 January, Northern Ireland will stay in the Single Market for goods. As the rest of the UK will not remain in the Single Market, some products entering Northern Ireland from Great Britain will need to be checked at the posts.

https://www.hellenicshippingnews.com/brexit-application-for-border-posts-at-ports-sent-to-eu/

DUTCH COURT TO QUESTION ING AND EX-CEO IN MONEY LAUNDERING CASE

On 8 July, Reuters reported that a Dutch court has said it wanted to question the ING bank and its former CEO Ralph Hamers, now heading for UBS, to determine whether to reopen a case that led to ING being fined for lax prevention of money laundering in 2018.  The largest bank in the Netherlands paid €775 million in a settlement with Dutch prosecutors after failing for years to spot money laundering and other criminal activities happening through its accounts.

https://uk.reuters.com/article/uk-ing-money-laundering-hamers/dutch-court-to-question-ing-and-ex-ceo-hamers-in-money-laundering-case-idUKKBN2492EW

STEPSON OF MEXICAN DRUG KINGPIN HELPED FAMILY SELL HOUSE TO EVADE US SANCTIONS

On 7 July, Kharon reported that the stepson of a Mexican drug trafficker acted as a straw man for his parents, helping them sell a house in Mexico so it would not be blocked due to US sanctions, according to court documents. Bryant Espinoza Aguilar is the stepson of sanctioned Sinaloa Cartel leader Rafael Caro Quintero and is a US citizen.

https://brief.kharon.com/updates/stepson-of-longtime-mexican-drug-kingpin-helped-family-sell-house-to-evade-sanctions-us-says/

SOUTH AFRICAN TRADING POOL ACCUSED OF CRYPTO FRAUD IN TEXAS

On 8 July, Coindesk reported that the Texas State Securities Board (TSSB) has ordered Mirror Trading International (MTI) to cease operations immediately, alleging the South African bitcoin and forex trading network is a multilevel marketing scam. MTI is described as an “investor club” that claims to yield  0.5% daily returns for 76,000 members through artificial intelligence-boosted bitcoin trades on foreign exchanges. The TSSB alleged Mirror CEO Johannes Steynberg was perpetrating an international multilevel marketing fraud and that Texans are among the victims.

https://www.coindesk.com/mirror-trading-bitcoin-scam-texas

JUDGE DISMISSES GM BRIBERY LAWSUIT AGAINST FIAT CHRYSLER

The Midland reporter Telegram in the US on 8 July reported that a federal judge in Detroit has tossed out General Motors’ lawsuit alleging that Fiat Chrysler paid off union leaders to get better contract terms than GM.

https://www.mrt.com/news/article/Judge-dismisses-GM-s-bribery-lawsuit-against-Fiat-15394776.php

CALIFORNIA AND COLORADO RESIDENTS, COMPANIES AND LAW FIRM NAMED IN MULTI-MILLION PONZI CHARGES

On 8 July, a release on Mondo Visione advised that the Commodity Futures Trading Commission has announced it has filed a civil enforcement action charging a number of individuals and entities with operating a $14.5 million binary options and retail foreign currency (forex) Ponzi scheme. Named were John D Black from California and his affiliated entities Financial Tree (Financial Tree Trust), Financial Solution Group (Financial Solution Group Trust), and New Money Advisors, LLC, and associates Christopher Mancuso and Joseph Tufo; Colorado-based defendants John P Glenn and his law firm, The Law Firm of John Glenn, PC. The complaint names 7 relief defendants who received funds from the scheme to which they have no lawful entitlement.

https://mondovisione.com/media-and-resources/news/cftc-charges-california-and-colorado-residents-in-ongoing-multimillion-dollar-po/

FATF: BENEFICIAL OWNERSHIP BEST PRACTICES GUIDE (IN SPANISH)

Made available through the GAFILAT website, this best practice document aims to provide suggested solutions, supported by cases and examples of best practices in response to the challenges countries face in the implementation of FATF Recommendation 24 on transparency and final beneficiary of legal persons.

https://www.gafilat.org/index.php/es/biblioteca-virtual/gafilat/documentos-de-interes-17/buenas-practicas-18/3826-mejores-practicas-sobre-beneficiarios-finales-para-personas-juridicas/file

US: 11 PROPERTIES IN PALM BEACH COUNTY, FLORIDA SEIZED FOR ALLEGED TIES TO MONEY LAUNDERING

On 6 July, the Real Deal website reported that the properties are tied to a false and fraudulent asylum and work permit applications scheme between 2012 and 2020, according to prosecutors, naming Laura Luz Maria Torres.

https://therealdeal.com/miami/2020/07/06/feds-seek-to-seize-11-properties-in-palm-beach-county-allegedly-tied-to-money-laundering/

AUSTRALIA: QUEENSLAND POLICE FIND $4.35 MILLION STASHED INSIDE CAR DURING ROUTINE TRAFFIC STOP

On 7 July, ABC News reported that a Brisbane man has been granted bail on a tainted property charge after a routine traffic stop unearthed $4.35 million of cash in his car.   $1.75 million was in cash stacked inside a suitcase and $2.61 million in a cardboard box.

https://www.abc.net.au/news/2020-07-08/queensland-police-find-millions-in-cash-in-car-south-of-brisbane/12434556

 

 

 

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UN REPORT: COVID-19-RELATED TRAFFICKING OF MEDICAL PRODUCTS AS A THREAT TO PUBLIC HEALTH

A Research Brief from the UN Office on Drugs and Crime says that the emergence of trafficking in PPE signals a significant shift in organised criminal group behaviour that is directly attributable to the COVID-19 pandemic, and that criminal behaviour will shift from trafficking in PPE to the development and delivery of a COVID-19 vaccine.  It also says that weak regulatory and legal frameworks to the prevention of the manufacturing and trafficking of substandard and falsified products and cyber security shortcomings, were evident before COVID-19, but the pandemic has exacerbated them and it will be difficult to make significant improvements in the immediate short term.  It concludes that that crime targeting COVID-19 medical products will become more focused with significantly greater risks to public health as the containment phase of the pandemic passes to the treatment and prevention stages.

UNODC

https://www.unodc.org/documents/data-and-analysis/covid/COVID-19_research_brief_trafficking_medical_products.pdf

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UK EXPORT FINANCE PLAYS DOWN CORRUPTION WARNINGS OVER AFRICA TRANSACTIONS

On 8 July, Global Trade Review reported that the UK’s official export credit agency says that it carries out rigorous and ongoing due diligence on all transactions it supports, after anti-corruption investigators warned of “multiple red flags” in its activities in Sub-Saharan Africa. This followed a UK-focused campaign group saying that stress-testing of the agency’s latest anti-bribery and corruption procedures suggests it is “taking on extraordinarily high risk” across much of its current portfolio. The group said that, of 11 recent UKEF-backed deals, 3 posed “exceptionally high” risks in terms of corruption or bribery, involving trade with Angola, Ghana and Uganda and carried a total value of over £270 million. The article details the concerns expressed

https://www.gtreview.com/news/europe/uk-export-finance-plays-down-corruption-warnings-over-africa-transactions

 

 

 

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WHY URUGUAY FINISHED TOP IN AN ANTI-CORRUPTION RANKING

On 8 July, Americas Quarterly reported that Uruguay typically performs well compared to most Latin American countries in a variety of governance indicators — including rankings from multilateral banks, research institutions and the private sector. Now it has finished as top of the annual Capacity to Combat Corruption survey and its overall score was the highest by far. The survey assesses 14 different sectors of the anti-corruption environment and Uruguay ranked first in 13 of these 14 areas. Even in sectors historically seen as problematic for Uruguay, such as the fight against money laundering, the country surpassed the others.

https://www.americasquarterly.org/article/why-uruguay-finished-first-in-our-anti-corruption-ranking

 

 

 

 

 

 

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OFAC SETTLEMENT AGREEMENT WITH AMAZON.COM INC

On 8 July, OFAC announced a $134,523 settlement with Amazon.co​m Inc. It is said that Amazon provided goods and services to persons sanctioned by OFAC; to persons located in the sanctioned region or countries of Crimea, Iran, and Syria; and to individuals located in or employed by the foreign missions of countries sanctioned by OFAC. Amazon also failed to timely report several hundred transactions conducted pursuant to a general license issued by OFAC that included a mandatory reporting requirement.

https://content.govdelivery.com/accounts/USTREAS/bulletins/2949e27

https://www.treasury.gov/resource-center/sanctions/CivPen/Documents/20200708_amazon.pdf

 

 

 

 

 

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SPANISH POLICE ARREST 2 PEOPLE FOR SMUGGLING DUAL-USE EQUIPMENT TO PAKISTANI MILITARY COMPANIES

On 8 July, Latestly reported that, according to sources, the technology being smuggled could be used for missile guidance systems. The men were said to be operating a company said to be specialising in autonomous navigation technologies for UAV.

https://www.latestly.com/agency-news/world-news-spanish-police-apprehend-2-people-for-smuggling-dual-use-equipment-to-pakistani-military-companies-1873881.html

https://www.newkerala.com/news/2020/121289.htm

 

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INTERNATIONAL INVESTORS BOUGHT BONDS BACKED BY ITALIAN MAFIA CRIME PROCEEDS

The Financial Times has reported that international investors have bought an estimated €1 billion in bonds linked to assets created by front companies for the Calabrian ’Ndrangheta mafia group. It says that Banca Generali (in a transaction with Ernst & Young provided consulting services), pension funds, hedge funds and family offices invested in the bonds — which were created out of unpaid invoices to Italian public health authorities from companies providing them with medical services.

https://www.ft.com/content/bcebd77c-057b-4fd0-bd99-b97e0e559455

https://www.riskscreen.com/kyc360/news/mafia-linked-bonds-sold-to-banca-generali-other-investors-ft/

 

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UK: REPORT ON MOBILE PHONE DATA WHEN CONDUCTING CRIMINAL INVESTIGATIONS

On 6 July, Addleshaw Goddard LLP reported that the Information Commissioner’s Office (ICO) has released an investigation report on policy extraction of mobile phone data when conducting criminal investigations in England and Wales following concerns about excessive processing of personal data. The report says that a whole-of-system approach is needed to improve privacy protection whilst achieving legitimate criminal justice objectives.  Recommendations in the report include the introduction of a new code of practice to improve practices and better support for police and prosecutors in their work.

The report is at –

https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2020/06/ico-releases-findings-on-the-use-of-mobile-phone-extraction-by-police-forces/

 

 

 

 

 

 

 

 

 

 

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UK: DISHONESTY IN COMPLEX FRAUD CLAIMS

On 7 July, Mayer Brown published an article saying that the Court of Appeal has confirmed that the new test for dishonesty that is now applied in civil cases in England and Wales applies equally in criminal cases. It says that there is now no subjective element and no longer will a defendant be able to argue their innocence because they did not realise their actions were dishonest. This clarification has implications for criminal cases of serious fraud, where successful prosecutions of individuals have been thin on the ground. The article says that the most immediate effect of the judgment is that it makes each case much more fact-specific than was the case with the previous Ghosh test. Only time will tell whether this will result in an increase in successful prosecutions of individuals in cases of complex fraud.

https://www.mayerbrown.com/en/perspectives-events/publications/2020/07/dishonesty-in-complex-fraud-claims

 

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