https://www.statista.com/chart/6951/down-the-drain_-wastewater-with-the-most-cocaine
Day: October 29, 2020
OFAC: NEW IRAN SANCTIONS, UPDATES, GENERAL LICENSE AND FAQ
On 29 October, OFAC advised that 5 individuals – 3 Iranian, an Indian and Chinese national and 11 entities have been added to its sanctions lists, including 8 entities for their involvement in the sale and purchase of Iranian petrochemical products – the AL-BILAD ISLAMIC BANK FOR INVESTMENT AND FINANCE PSC (additional aliases) and Mahmoud MADANIPOUR have been amended. At the same time OFAC has issued General Licence M (Authorizing the Exportation of Certain Graduate Level Educational Services and Software) and new FAQ 853 on Iranian sanctions.
https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20201029
https://home.treasury.gov/news/press-releases/sm1168
https://home.treasury.gov/system/files/126/iran_gl_M.pdf
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SLOVAKIA: AML/CFT MUTUAL EVALUATION REPORT
On 29 October, MONEYVAL published the 5th Round mutual evaluation report on the Slovak Republic. It says, among other things, that the report concludes that the Slovak Republic obtains poor results in using financial intelligence and other relevant information to collect evidence and trace criminal assets. Since the last evaluation, the number of money laundering convictions increased, but an important part is related to simple property offences such as car thefts. The outcome of investigations and prosecutions of money laundering in other major proceeds generating crimes does not fully reflect the country’s risks. The absence of a central bank account register and the lack of beneficial owner information are reported as the greatest challenges in conducting financial analysis. MONEYVAL flags important shortcomings in the FIU’s mechanism and says that that preventive measures are seriously affected by several issues, and furthermore there are no mechanisms in place to verify the information on the ultimate beneficial owners at the time of registration. Based on the results of its evaluation, MONEYVAL decided to apply its enhanced follow-up procedure and invited Slovakia to report back in September 2022.
https://rm.coe.int/moneyval-2020-21-5th-round-mer-slovakia/1680a02853
MONEYVAL: SLOVAKIA SHOULD PROSECUTE MONEY LAUNDERING WITH MORE DETERMINATION
On 29 October, a news release from the Council of Europe says that MONEYVAL urges the authorities of the Slovak Republic to systematically pursue illicit funds generated by all proceeds generating crimes through effective seizure and confiscation, and to systemically tackle money laundering and terrorist financing occurring around such crimes.
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
COURT ANALYSES THE BINDING NATURE OF OFAC SANCTIONS ON MALTESE BANKS
On 23 October, an article from Ganado Advocates reported a ruling in September that the Bank of Valetta had no legal right to arbitrarily and unilaterally restrict its customers from withdrawing their deposits, on the basis of sanctions imposed by OFAC. The Court held that since BOV had no legal basis for its actions, the defendant bank had to release the funds to WWFL, together with any interest applicable at law.
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
EXPERIAN CREDIT-RATING AGENCY FACES GDPR ACTION
IT Pro on 28 October reported that the Information Commissioner’s Office in the UK has ordered the credit-rating agency to stop profiting from the secretive enriching and processing of people’s personal data or face a massive GDPR fine. It is said that the ICO discovered a data-broking operation across the entire credit rating industry, with 3 credit reference agencies, including Equifax and TransUnion, under fire for illegal practices.
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
GUATEMALA REJECTS EX-PRESIDENT MARTINELLI SON’S APPEAL AGAINST EXTRADITION TO US
On 28 October, Newsroom Panama reported that the Guatemalan justice system denied appeals filed by Ricardo Alberto Martinelli Linares’ lawyer, one of the 2 sons of former Panama President Martinelli, seeking to prevent him from being extradited to the US, to face trial for conspiracy to commit crimes related to the Odebrecht scandal. The 2 brothers were arrested in July as they were boarding a private jet.
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
raytodd.blog 