Day: October 21, 2020

On 21 October, the always-useful EU Sanctions Blog reported that the UK’s Proscribed Organisations Appeal Commission (POAC) had delivered a judgment allowing an appeal against the decision of the Home Secretary to refuse to remove the LTTE from the UK Proscribed Organisation list.  It is said that the appeal was brought on the basis that the LTTE were not “concerned in terrorism” and the continued proscription was unjustified and disproportionate, in particular because of its adverse impact on the Tamil community.

https://www.europeansanctions.com/2020/10/tgte-wins-appeal-in-the-uk-proscribed-organisations-appeal-commission-against-proscription-of-ltte-as-terrorist-organisation/

I had omitted the following 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 21 October, FATF-style regional body APG published its latest annual report which summarises the achievements of the APG against the Strategic Plan 2016-2020 over the last financial year.  It provides a background summary of the APG as an organisation and alsocontains a summary of the major outcomes for the financial year.  There is also a summary statement of major APG activities planned for the coming financial year.  The APG has APG has 41 member jurisdictions the Asia/Pacific region.  Despite Covid-19, APG completed 5 mutual evaluations – South Korea, Japan, New Zealand, Tonga and Vietnam.  Mutual evaluations commenced in 2019-2020 for Brunei Darussalam, Lao PDR and the Republic of Marshall Islands to be adopted in July 2021 and the timing of on-site visits for these evaluations are yet to be determined.  It also says that APG members adopted the 2020 Annual Typologies Report which contains a synopsis of the typologies projects undertaken in 2019-20, recent trends on money laundering and terrorist financing, and a number of case studies.

http://www.apgml.org/about-us/page.aspx?p=759348de-bb49-42de-b1a3-75d8129adf4e

I had omitted the following 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 21 October, OCCRP reported on its analysis of data obtained, along with media partners in 37 countries, about over 37,000 COVID-19 related tenders and contracts worth over €20.8 billion, running from February to October.  They cover key goods such as personal protective equipment (PPE), ventilators, tests, and medications.  It says that what it found was often fascinating.  Governments bought respirator masks at prices that varied wildly, from just 20 cents per unit to €37 each. The pandemic also prompted a boom for hydroxychloroquine and chloroquine, controversial drugs promoted by many as a miracle treatment for COVID-19, despite limited evidence.  Data obtained by reporters showed the number of large contracts for these drugs increased 15-fold so far this year. Dexamethasone, a steroid that has met with more clinical success, saw a 36-fold increase.

https://www.occrp.org/en/coronavirus/europes-covid-19-spending-spree-unmasked

I had omitted the following 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 21 October, HM treasury published a news release advising that a new Bill designed, it says, “to ensure the UK’s world-leading financial services sector continues to thrive and grasp new opportunities on the global stage” has been introduced into Parliament.  It is described as the first step in shaping a regulatory framework for the UK’s financial services sector outside of the EU.  It includes provisions to –

1. deliver long-term market access between the UK and Gibraltar for financial services firms on the basis of alignment and cooperation, now that the UK and Gibraltar have left the EU;
2. increase the maximum prison sentence for market abuse from 7 to 10 years in line with other sentences for financial crimes;
3. increase beneficial ownership transparency for trusts – which will clarify the Government’s ability to enforce and make changes to extra-territorial trust registration powers; and
4.  streamline the FCA’s process for removing a firm’s authorisation and taking them off the public register, to improve accuracy and reduce the risk of fraud.

https://www.gov.uk/government/news/financial-services-bill-introduced-today

https://bills.parliament.uk/bills/2792

https://publications.parliament.uk/pa/bills/cbill/58-01/0200/en/200200en.pdf

I had omitted the following 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 20 October, the South China Morning Post reported that banks operating in Hong Kong have been told to report financial transactions believed to violate the city’s controversial national security law.  The Hong Kong Monetary Authority (HKMA) advised banks to file suspicious transaction reports for dealings that may be related to violations of the national security law to the FIU.

https://www.scmp.com/business/banking-finance/article/3106239/banks-advised-report-transactions-suspected-violating-hong

I had omitted the following 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 21 October, KYC 360 reported that the US State Department has broadened the scope of its sanctions targeting the unfinished Russian-backed natural-gas pipeline with new guidance published on its website.  These expand on upon last year’s measures, saying sanctions would apply to companies providing services, facilities or funding for “upgrades or installation of equipment” for vessels that would work on Nord Stream 2 saying that it wants to make sure that all parties have clarity that they could fall under the sanctions. 

https://www.riskscreen.com/kyc360/news/u-s-broadens-sanctions-to-thwart-completion-of-russian-gas-pipeline/

I had omitted the following 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 20 October, the ICIJ reported that the United Kingdom’s Association of Company Registration Agents, a trade group representing firms that specialize in corporate secrecy has been lobbying the UK government to give its members a central role in efforts to counter the country’s reputation as a leading provider of front companies to organized crime groups, corrupt regimes and other criminals.  It is urging government ministers to hire ACRA members to carry out identity verification checks on the owners of all firms listed at Companies House.  ACRA is among a handful of organisations that have been appointed to an expert panel, advising the government on how best to implement Companies House reforms.  Others on the panel include the Institute of Chartered Accountants in England and Wales, the Institute of Directors, the Law Society, the National Economic Crime Centre and Transparency International.

https://www.icij.org/investigations/fincen-files/controversial-shell-company-factories-seek-a-role-cleaning-up-uks-reputation/

I had omitted the following 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