Day: August 24, 2020

On 24 August, an article in the Cyprus Mail carried a rebuff of the “Cyprus Leaks” from Al Jazeera, with Interior Minister condemning the reports on the programme which grants citizenship in exchange for investment and implied Turkey was involved in an attempt to wrongly discredit Cyprus.

https://cyprus-mail.com/2020/08/25/al-jazeera-probe-a-smear-campaign

Meanwhile, Al Jazeera continued the release of information, saying that among those who bought the passports, worth a minimum investment of $2.5 million each, were elected politicians of several countries, board members of state enterprises and the brother of a former Lebanese Prime Minister (i.e. PEP).

https://www.aljazeera.com/news/2020/08/exclusive-cyprus-sold-passports-politically-exposed-persons-200823204320183.html

On 5 August, Ince & Co reported that Gibraltar had issued the latest NRA about the main threats and vulnerabilities of money laundering, terrorist financing and proliferation financing that Gibraltar faces. The NRA covers all industries specifically and now includes a section on illicit wildlife trade.

https://www.incegd.com/en/news-insights/gaming-gibraltar-national-risk-assessment-2020

The NRA is at –

https://www.incegd.com/sites/default/files/2020-08/2020-NRA-Final.pdf

Finance Feeds on 24 August reported that the FCA in the UK had published a new consultation paper.  Comments are invited until 23 November and the FCA will consider the feedback and plan to publish a Policy Statement (PS), including any final rules, by the first quarter of 2021.

https://financefeeds.com/uk-regulator-plans-extend-financial-crime-reporting-obligation-cryptoasset-exchange-providers/

https://www.fca.org.uk/publication/consultation/cp20-17.pdf

On 21 August, the Tico Times reported that Costa Rican authorities have seized gold bars, money and drugs in a “massive operation” against a network dedicated to the purchase of illegally mined gold — which has serious environmental impacts — to export to the US.  It is said that the prosecution undertook “a massive operation in different parts of the country” to dismantle the gold export structure, with the gold turned into bullion to be exported to the US. It is said that some 70 hectares of land had been invaded by illegal miners, known as “coligalleros”, who have caused serious environmental damage and polluted rivers through their use of cyanide and mercury.

https://ticotimes.net/2020/08/21/costa-rican-police-launch-massive-operation-against-illegal-gold-mining-at-crucitas

On 24 August, International Adviser reported that Inter Milan football manager Antonio Conte is trying to recover €30.6 million he invested in a firm he believed to be back by HSBC.  It is said that a London-based Italian financier orchestrated the fraud, which has conned 8 investors, including former Chelsea manager Conte, out of millions of euros.  The investors took legal action against the financier and had reached a settlement in May, which would see Massimo Bochicchio pay them €33.1 million by 30 June, but they never received the money.

https://international-adviser.com/ex-chelsea-manager-fights-to-recoup-e30m-lost-to-scam/

On 24 August, Technext reported that the Reserve Bank of Zimbabwe (RBZ) has announced a permanent ban of mobile money agents in the country, stating that it is making efforts to proscribe unlawful trading of foreign currency as part of its new monetary policy measures.  The ban comes barely 2 months after the Zimbabwean government suspended mobile money agents from processing mobile financial transactions.

https://technext.ng/2020/08/24/zimbabwe-central-bank-permanently-bans-mobile-money-operators-over-allegations-of-money-laundering/