Day: November 4, 2020

On 4 November, Yahoo Finance reported that a high-rolling Park Lane casino popular with multi-millionaires, the Park Lane Club, has had its licence revoked by the Gambling Commission amid allegations over money laundering.  The Commission said that it was taking action against the Park Lane Club because it was “not satisfied as to the source of funds” used to acquire and support the licensee.  The Club is believed to be owned by businessman Vasilijis Melniks.  It has previously been fined £1.8 million over alleged failure to carry out adequate due diligence checks on some of its biggest gamblers under money laundering rules, and accused of failing to take action to prevent potential problem gambling or spotting the indicators.

https://uk.finance.yahoo.com/news/park-lane-casino-licence-revoked-181544086.html

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A news release from US DoJ on 4 November announced that the DoJ has seized virtual currency worth an estimated $24 million on behalf of the Brazilian government.  The seizure order was obtained pursuant to an official request from Brazil, made under the Treaty on Mutual Legal Assistance in Criminal Matters, for assistance in connection with a large cryptocurrency fraud scheme in a Brazilian federal police investigation called “Operation Egypto”.  Brazilian authorities estimate that more than $200 million was obtained through this scheme through which more than tens of thousands of Brazilians may have been defrauded.  The US seizures were tied to Brazilian Marcos Antonio Fagundes’ alleged role in the scheme.

https://www.justice.gov/opa/pr/us-seizes-virtual-currencies-valued-24-million-assisting-brazil-major-internet-fraud

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On 4 November, a post on the FCPS Blog advised that Berky GmbH and 5 subsidiaries are ineligible to participate in World Bank-financed projects during the 30-month debarment.  The debarment is said to be due to fraud, collusion, and corruption involving a $100 million project in Myanmar.

https://fcpablog.com/2020/11/04/world-bank-debars-german-manufacturer-for-fraud-collusion-and-corruption/

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On 4 November, Eversheds Sutherland provided 3 decision flowcharts.

https://www.eversheds-sutherland.com/global/en/what/articles/index.page?ArticleID=en/global/ireland/how-will-eu-and-uk-courts-treat-jurisdiction-and-enforcement-after-brexit

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On 3 November, the Law Commission announced that the Government has asked the Law Commission to investigate the laws around corporate criminal liability and provide options to reform them.  It says that concerns have been raised over the effectiveness of current laws in criminalising corporate entities when they commit economic crime. The Law Commission has been asked by the Government to draft an Options Paper, in which the Commission will analyse how effective the law is and where it could be improved. The Commission will present various options for reforming the law so that corporate entities can be held appropriately to account.  The Commission is aiming to publish the Options Paper in in late 2021 and will work with the Government on next steps, including the potential for a full Law Commission project on Corporate Criminal Liability.

https://www.lawcom.gov.uk/law-commission-begins-project-on-corporate-criminal-liability/

terms of references –

https://s3-eu-west-2.amazonaws.com/lawcom-prod-storage-11jsxou24uy7q/uploads/2020/11/CCL-ToR-FINAL.pdf

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On 4 November, FATF issued an updated consolidated schedule of all assessment ratings to date, following the release of reports on Slovakia and Georgia.  The schedule includes technical ratings and effectiveness ratings.

http://www.fatf-gafi.org/publications/mutualevaluations/documents/assessment-ratings.html

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ON 3 November, Cooling Post reported that Customs organisation across the world in Operation DEMETER VI, which is thought to have taken place during September/October and involved 73 customs administrations. seized over 31 tonnes of illegal HFC during an operation to thwart transboundary shipments of illegal waste and ozone depleting substances.

https://www.coolingpost.com/world-news/global-customs-operation-bags-31-tonnes-of-illegal-hfcs/

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