Day: December 12, 2020

On 10 December, the World Bank reported that the UNODC/World Bank’s Stolen Asset Recovery (StAR) Initiative was launched in 2007 and it has just released the latest edition of its Handbook, first produced in 2010.  It is intended to serve as a guide to navigating challenges in asset recovery.  It is designed as a how-to manual, the handbook guides practitioners as they grapple with the strategic, organisational, investigative, and legal challenges of recovering assets that have been stolen by corrupt leaders and hidden abroad.  It provides common approaches to recovering stolen assets located in foreign jurisdictions, identifies the challenges that practitioners are likely to encounter, and introduces good practices. 

https://openknowledge.worldbank.org/handle/10986/34843

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On 11 December, a news release from the Council of Europe announced that MONEYVAL has commenced its 5^th round mutual evaluation process of Monaco with a 2-day training session on the evaluation process for the authorities.  Such training is provided by the MONEYVAL Secretariat approximately 1 year in advance of the onsite visit and is aimed at familiarising all national stakeholders involved in the evaluation with the underlying standards and methodology by FATF and the evaluation approach of MONEYVAL.  The training is organised virtually and attended by representatives of the FIU, law enforcement and supervisory authorities, as well as representatives of various types of financial institutions and non-financial sector representatives.

https://www.coe.int/en/web/moneyval/-/moneyval-commences-evaluation-process-of-monaco

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On 12 December, the Cyprus Mail referred to a new report from the OECD which says that Cyprus “has shown considerable progress in improving the exchange of tax information”.  It is said that Cyprus was evaluated as “Largely Compliant” for the second time since it was first reviewed in 2015 and since receiving a Non-Compliant rating in 2013.  The report is the Global Forum on Transparency and Exchange of Information for Tax Purposes: Cyprus 2020 (Second Round) – Peer Review Report on the Exchange of Information on Request

https://cyprus-mail.com/2020/12/12/cyprus-shows-progress-in-tax-information-exchange-oecd/

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On 12 December, Mercopress reported a civil lawsuit against Danish shipping company Maersk and former executives representing the company for alleged corruption involving shipping contracts with state-run oil firm Petrobras.  The lawsuit requests that a judge freeze almost $198 million in assets in order to make sure funds are available to pay for damages resulting from the alleged scheme.

https://en.mercopress.com/2020/12/12/brazilian-federal-prosecutors-file-lawsuit-against-maersk-for-alleged-corruption-involving-petrobras

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On 12 December, 112 UA reported that Switzerland has imposed sanctions against the President of Belarus Alexander Lukashenko.  It has aligned with EU sanctions of 6 November in imposing financial sanctions and a ban on entry to Switzerland and transit through the country on 15 people, including Lukashenko. In addition to Lukashenko and his eldest son Viktor, 13 other people are on the list, including the head of the presidential administration Igor Sergienko , head of the KGB Ivan Tertel, President’s Press Secretary Natalia Eismont.

https://112.international/politics/switzerland-imposes-new-sanctions-against-lukashenko-57277.html

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