Month: September 2020

In its 1 October edition, the Daily Maverick carried the second part of its report traces how major Chinese state rail manufacturers paid more than $140 million to Gupta front companies in Hong Kong, and how this money was immediately injected into 2 separate money laundering systems.

The Guptas’ Transnet Laundromat (Part Two): Inside the Guptas’ HSBC washing machine

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On 30 September, Swissinfo reported that a from the Swiss Federal Audit found that it takes an average of 290 days for Swiss authorities to deal with a request for mutual legal assistance from another country.  In comparison other countries grant mutual assistance in 154 days on average, said the report.  In 10 out of 15 cases, Switzerland processes the requests it receives slower than the countries with which it cooperates.  The Federal Audit Office recommended revising the Mutual Assistance Act to simplify procedures and update old ones. 

https://www.swissinfo.ch/eng/switzerland-too-slow-in-processing-legal-assistance-requests-from-abroad/46068372

The report (in German) and a summary (in English) is available at –

https://www.efk.admin.ch/en/publications/security-and-environment/justice-and-police/3962-international-mutual-legal-assistance-in-criminal-matters-federal-office-of-justice.html

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

On 30 September, Voice Online reported that Pam Ayres and performance poet Suli Breaks have joined forces with Santander to turn the tables on fraudsters and highlight the dangers of investment scams ahead of National Poetry Day on 1 October.  Santander challenged poets Ayres and Breaks to turn financial crimes into rhymes in their ‘Scam Sonnets’ to help the public spot the signs of investment scams.  A new study of 2,000 British adults commissioned by Santander reveals that only 4 in 10 Brits said they know what an investment scam is.

British poets turn financial crimes into rhymes to raise awareness of investment fraud

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On 30 September, a Notice from HM Treasury advised that the entries for a Russian individual, Oleg LOGUNOV and the North Korean MINISTRY OF PEOPLE’S SECURITY CORRECTIONAL (MPS) BUREAU have been amended.

Click to access Notice_Global_Human_Rights_300920.pdf

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

An article in Lawfare on 30 September said that on 28 September, the US Government issued a white paper: “Information on US Privacy Safeguards Relevant to SCC and Other EU Legal Bases for EU-US Data Transfers After Schrems II”.  This provided detailed information about US privacy standards governing foreign intelligence collection.  The article reviews the background to the situation affecting data exchanges between the US and EU, and calls for good-faith efforts to bridge the respective data protection regimes once again — and to provide the legal clarity and certainty essential to transatlantic commerce and cooperation.

https://www.lawfareblog.com/need-clarity-after-schrems-ii

The white paper is available at –

Click to access SCCsWhitePaperFORMATTEDFINAL508COMPLIANT.PDF

This claims that, as a practical matter, for many companies the issues of national security data access that appear to have concerned the ECJ in Schrems II are unlikely to arise because the data they handle is of no interest to the US intelligence community.

On 30 September, an article from Out-Law reported that the UAE has introduced new rules that require companies based in the UAE mainland and commercial free zones to keep registers of their beneficial owners and shareholders.  Companies affected have until 27 October to set up a register of their ‘real beneficiaries’ as well as shareholders.

https://www.pinsentmasons.com/out-law/news/uae-companies-required-to-keep-beneficial-ownership-register

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

On 30 September, a news release from the US Customs & Border Protection advised that it will detain palm oil and palm oil products made by FGV Holdings Berhad and its subsidiaries and joint ventures.  This is under a Withhold Release Order (WRO) against palm oil and palm oil products made by FGV based on information that reasonably indicates the use of forced labour.

https://www.cbp.gov/newsroom/national-media-release/cbp-issues-detention-order-palm-oil-produced-forced-labor-malaysia

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

On 30 September, the Anadolu Agency reported that Sierra Leone’s government has imposed a travel ban on the country’s former President Ernest Bai Koroma over corruption charges, according to media reports, and the travel ban has also been imposed on another 11 former officials who served under Koroma’s administration – including the former Vice-President Victor Bockarie Foh and almost all of his former Cabinet ministers during his administration between 2007 and 2018, as well as chiefs of departments and state agencies.

https://www.aa.com.tr/en/africa/sierra-leone-ex-president-banned-from-traveling-abroad/1991037

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

On 30 September, OFAC advised the addition of 7 individuals and 13 entities to its SDN Lists.  The designations are in connection with Syria and, in the case of 1 individual, Cuba.  It has also issued new General License 20 (Authorizing Transactions and Activities Necessary for Wind Down of Transactions with Emma Tel LLC), which is included on the list of new designations, and new FAQ 841 which explains the purpose of the new License.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20200930

Click to access syria_gl20.pdf

https://home.treasury.gov/policy-issues/financial-sanctions/faqs/841

https://home.treasury.gov/news/press-releases/sm1141?src=ilaw

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On 30 September, ITV News reported that the first National Risk Assessment (NRA) of money laundering has been published by the Government of Jersey. The report aims to identify where the island is most likely to be used by criminals to launder the proceeds of crime.  It mentions a lack of robust policy and weaknesses in intelligence gathering and the FIU had in the past faced difficulties securing adequate funding for staff training. An action plan will be put into place to address the detailed findings of NRA over the coming months, with further reviews in 2021 to assess the threat of the island being used to facilitate terrorist financing and updating the NRA so that a process to ensure that Jersey’s defences are constantly being assessed and improved is in place.

https://www.itv.com/news/channel/2020-09-30/jersey-may-have-been-vulnerable-to-money-laundering-due-to-lack-of-staff-training

The NRA can be found at –

https://www.gov.je/Industry/Finance/Pages/NationalRiskAssessmentMoneyLaundering.aspx

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y