An article from Insight Crime on 28 December said that a rush of drug plane traffic from South America, coupled with traffickers smuggling large cocaine shipments after coronavirus border restrictions eased, led to a surge in narcotics transiting Central America this year, including along resuscitated land routes. As an example, in Honduras more cocaine was seized in 7 months than during all of last year, and security forces had destroyed more than 30 hidden airstrips in its north-eastern jungles. It says that the flood of cocaine means the trafficking map in Central America now looks a lot like it did a decade ago, when land corridors were as vital as maritime routes for moving cocaine north from South America. Panama has also seen a boom in cocaine seizures – in 2018, some 73 tons were seized, and a record 78 tons in 2019, then in the first 6 months of 2020, authorities had seized nearly 35 tons – with more than 10 tons of this were seized on boats in waters off the Bocas del Toro province, an archipelago that borders Costa Rica on the Caribbean. As in previous years, Panama authorities also discovered semi-submersible vessels transporting drugs along the country’s shores.
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 22 December, Clyde & Co published an article which looks at risks for freight forwarders and customs brokers identified in the recent paper on TBML published by FATF and the Egmont Group of FIU. It says that, historically, TBML has been a very effective way for organised crime groups and professional money launderers to disguise the proceeds of crime. In fact, a 2006 FATF study of TBML described it as one of the top three methods used by criminals to launder the proceeds of their crimes. The 2020 paper from FATF and the Egmont Group highlights a number of factors which together paint a picture where TBML still presents a significant ML or TF risk. The article considers the most significant risk that freight forwarders and customs brokers may be exposed and what can be done to mitigate it.
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
Panama Covid-19 update – authorities says more than 900 people had been turned back at the cordons sanitaire set up at various points to prevent movement into and from the city. Also reported that 2 stores in a border town have been closed for serving Costa Ricans violating the biosafety restrictions – a duty-free store was found to be open with more than 80 people inside, not complying with the national lockdown.
On a sadder note, the news reports the burial of 46 unclaimed bodies from the morgues of Panama, La Chorrera, Aguadulce and La Palma.
Another 2,633 new cases reported today, the final day of the Christmas total lockdown, with another 41 fatalities. There are now 41,551 active cases, with 183 in ICU, 1,848 in other wards, 695 in hotel rooms and the rest at home. On the other hand, another 2,444 people are said to have “recovered”, and that 80.3% of all those affected so far are said to have recovered. The largest number of cases since March, nearly 93,000, were in the 20-39 age range, but with only 180 deaths.
27 DECEMBER 2020
PAKISTAN: CUSTOMS FOILS BETEL NUT SMUGGLING BID
On 27 December, the Express Tribune reported that Port Qasim export collectorate foiled a bid to smuggle betel nuts, being imported under the guise of goods of domestic use, after importers had received 2 consignments from Saudi Arabia several months ago. When Customs officials examined the said consignments, they found over 26 tonnes of betel nuts along with water dispensers, shoes, mattresses, exercise machines, furniture and several other household goods – all of which were confiscated.
KENYA: A GOLDMINE FOR CROOKS SELLING LUXURY CARS USING FORGED PAPERS
On 27 December, an article from The Standard said that making money from the sale of smuggled cars in Nairobi is now as easy as buying candy on the streets; with a “communion” of crooked car dealers, conniving State agents and cross-border criminal networks with tentacles in prison. The newspaper reports on a multi-layered racket which extends to South Africa, Namibia, Zambia, Tanzania, Burundi, Uganda and South Sudan. It says that, in this complex trade, some foreigners too have dominated the automotive sector and are reportedly using their dealership as a front for money laundering.
FRENCH INVESTIGATORS TO QUESTION CARLOS GHOSN IN LEBANON
On 26 December, AP reported that a team of French investigators will go to Beirut in January to participate in interrogating former Renault-Nissan boss Carlos Ghosn who fled Japan in a dramatic escape that drew headlines last year. He is facing a number of legal challenges in France, including tax evasion and alleged money laundering, fraud and misuse of company assets while at the helm of the Renault-Nissan alliance. At least 2 investigations were opened in France. One focused on suspicious transactions between Renault and a distributor in Oman, as well as suspected payments for private trips and events paid by Renault-Nissan’s Netherlands-based holding company RNBV. Another investigation focused on suspected misuse of company funds for a party for Ghosn at Versailles.
BANGLADESH: COURT ORDERS FREEZING 617 BANK ACCOUNTS OF LAWMAKER
On 27 December, New Age Bangladesh reported that a has directed the authorities concerned to freeze some 617 bank accounts of independent lawmaker Mohammad Shahid Islam, aka Papul. This was in response to an application filed by the Anti-Corruption Commission. Police had filed a money laundering case against Shahid, his daughter, brother, sister-in-law and 4 others.
VIDEO: LIFESTYLES OF KAZAKHSTAN’S RICH AND POLITICALLY CONNECTED
On 22 December, Rferl published a short 3-minute video involving a villa in Cannes, a Swiss chateau and an entire block in London – among the investments made by relatives of former President Nursultan Nazarbaev, who resigned in 2019.
A news release from the NCA on 25 December advised that 21 people have been arrested across the UK as part of an operation targeting customers of an online criminal marketplace that advertised stolen personal credentials. Those targeted were customers of WeLeakInfo, a site that hosted 12 billion stolen credentials from over 10,000 data breaches before it was taken down in January 2020 following an NCA investigation.
SHELL OIL SITE SEIZED BY NIGERIAN STATE OVER UNPAID DAMAGES
On 23 December, Bloomberg reported that an oil site operated by Royal Dutch Shell Plc’s Nigerian unit has been seized by one of the country’s state governments due to a dispute over an oil spill that occurred decades ago. Kidney Island is located in the oil hub of Port Harcourt. Shell is involved in a long-running legal battle with a local community in Rivers state which has successfully sued the company for millions of dollars in damages for polluting its land.
JAPAN PROSECUTORS SEARCH FORMER MINISTER’S OFFICES ON BRIBERY SUSPICION
On 25 December, The Japan News reported that prosecutors have begun investigating former agriculture minister Takamori Yoshikawa and searched his offices, as well as other related locations on suspicion of bribery allegedly offered by a major egg company. Yoshikawa has already resigned as a Diet member after being hospitalised to treat his chronic heart failure and other ailments.
UP TO 10,000 CLIENTS AFFECTED AS HONG KONG LAW SOCIETY SHUTS DOWN MAJOR CONVEYANCING FIRM
On 24 December, the South China Morning Post reported that the Society alleges that a former clerk of Wong, Fung & Co had misappropriated unspecified sums of money from clients. It also alleges overdrawing of money from client accounts and allowing unqualified staff to sign off documents.
NORTH KOREA: KIM JONG-UN EXECUTES CURRENCY TRADERS AND TIGHTENS GRIP ON ECONOMY
On 25 December, the Sunday Times reported that Kim Jong-un is executing traders and threatening to reverse market reforms as he tries to reduce the devastation caused by isolating his country from the coronavirus. This includes the arrest of currency traders who exchange US dollars for North Korean won, and at least one has been executed, according to a briefing by South Korea’s intelligence agency.
UN: PILOT PROJECTS OF NEW FRAMEWORK TO CALCULATE THE COSTS OF ILLICIT TRADE AND BUSINESS PRACTICES
On 21 December, the UN Conference on Trade & Development reported that it and the UN Office on Drugs and Crime are involved with pilot projects are using the new framework to calculate the costs of illicit trade and business practices in Afghanistan, Colombia, Ecuador, Mexico, Nigeria, Panama and Peru. The framework is the result of extensive expert consultations held in 2017-2018 and reflects the thorough considerations of an international task force in 2019-2020 involving international organisations and national tax, customs and statistics experts.
FRAUDULENT ADVERTISING ONLINE: EMERGING RISKS AND CONSUMER FRAUD
In July, the Transnational Alliance to Combat Illicit Trade (TRACIT) and the American Apparel & Footwear Association (AAFA) have produced a report on the prevalence of fraudulent advertising appearing on shopping and social media platforms. It says that better educated consumers are in a better position to defend themselves against fraud. Whenever fraudulent advertisements are found, the report suggests in the first instance that these are reported to the relevant platform on which they appear and, where appropriate, to law enforcement or government regulators. The report says that fraudulent advertising is rapidly emerging as a new risk to consumers shopping online, where millions of consumers are exposed to thousands of fraudulent advertisements taking them to thousands of illegitimate e-commerce websites that defraud and/or sell counterfeit products and deceitful services. The report focuses on frauds, IP theft, data theft and use by organised crime. It recommends, among other things, improved “Know Your Business Customer” processes.
TECH GIANTS ARE GIVING CHINA A VITAL EDGE IN ESPIONAGE
On 26 December, Real Clear Defense carried an article from Foreign Policy that said that US officials say private Chinese companies have been enlisted to process stolen data for their country’s spy agencies. A number of Trump Administration officials emphasised the national security threats posed by Chinese tech giants.
BANK OF ENGLAND REBUKED OVER ‘MISSING’ $67 BILLION OF CASH
On 7 December, the New York Times reported that a Parliamentary committee found about £50 billion worth of cash in circulation is not being spent, and blasted the Bank for a lack of “curiosity” about where it is. A report released said that £50 billion of paper money is “missing” from the country’s cash supply and that the Bank of England “seems to lack curiosity” about where it’s all gone. The report says that it may be hidden away in unreported household savings, squirreled away for a rainy day, or is being used for more nefarious purposes.
Following a consultation earlier this year (which the FSC says received no responses from some sectors) the FSC has issued fee rates for general insurance mediation businesses (GIMB) money service businesses (MSB) trust company businesses (TCB) and designated non-financial businesses and professions (DNFBP). Also published alongside the fee rates and a report on feedback on the consultations.
THE UK-EU TRADE AGREEMENT – THE EARLY EMERGING PICTURE
On 27 December, The Law & Policy Blog from David Allen Green comments on the draft trade agreement between the EU and UK and related documents were published on 26 December. It says that while there has not been time to properly review the entire agreement, there are some ways to get an idea of the contents, including pros, cons and possible consequences. It refers one to the “excellent team” at the Institute of Government which have provided initial analyses of the provisions, and other initial thoughts and views put out on Twitter.
HAND SANITISER BRAND SEIZED IN EUROPE OWNED BY HEAD OF TURKISH-AMERICAN BUSINESS GROUP
On 16 December, Turkish Minute reported that the EU anti-fraud office OLAF had coordinated seizures of some 140,000 litres of hand sanitiser gel originating from Turkey on the grounds that it contains “dangerously high levels of methanol”. The news site claims that it has learned that the seized gel sold under the Viapro brand was produced by a company owned by Ali Osman Akat, president of the Turkish-American Business Association/American Chamber of Commerce in Turkey (TABA/AmCham).
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
Panama Covid-19 update – Day 2 of 3 -day total lockdown, with beautiful, tempting, hot and fine weather in the morning (at least it rained later to dampen temptation to venture out).
As the 220 Cuban doctors begin an induction process before taking up roles in the local health services, the National Association of Nurses has announced that the ninth nurse has died of Covid. This news comes alongside that of a gunfight that broke out when police went to break up an illegal, curfew- and rule-breaking party. 5 people, included 2 police ended up wounded.
You would think people would show more sense, especially as today’s figures show another 2,064 new cases and 43 more fatalities. With over 41,000 active cases, there are 185 in ICU and 1,846 in other wards.
26 DECEMBER 2020
EGYPT FOILS SMUGGLING OF 85 ANTIQUE COINS AND 3 SMALL SCARABS
On 26 December, the Daily News in Egypt reported that the archaeological unit at Cairo International Airport’s Logistics Village has managed to seize 85 antique coins from different eras and 3 small scarabs that were being smuggled out of the country. The seizure operation took place in cooperation with the FedEx Customs Administration and the smuggled items had been hidden in a US-bound parcel.
HOW THE UAE BECAME A SMUGGLING HUB FOR ‘BLOOD GOLD’
On 26 December, Middle East Eye carried an article saying that in recent years, the UAE, with Dubai in particular, has established itself as one the largest and fastest-growing marketplaces for the precious metal, with imports rising by 58% per annum to more than $27 billion in 2018. Gold has become so important to Dubai’s economy that it is the emirate’s highest value external trade item, ahead of mobile phones, jewellery, petroleum products and diamonds, and it is the UAE’s largest export after oil. It is reported that investigation found that 95% of gold officially exported from Central and East Africa, much of it mined in Sudan, South Sudan, the Central African Republic and the Democratic Republic of Congo, ends up in the emirate. In 2016, according to Reuters, the UAE declared gold imports from 25 African countries, worth $7.4 billion, which had not declared any exports to the UAE. The Emirates declared $3.9 billion more in gold from most of the 21 other countries it imported from than was declared in exports. The article also assails Switzerland, the world’s largest refiner, and around half of all gold goes through the country at some point. London also handles around 80% of all mined gold, with refiners shipping gold to the London Bullion Markets Association (LBMA) vaults, which held just over half-a-trillion dollars worth as of October 2020.
VIETNAM: 6 CUSTOMS OFFICIALS SUSPENDED FOR INVOLVEMENT WITH SMUGGLING FROM CHINA
On 26 December, VN Express reported that 6 customs officials in the northern state of Quang Ninh have been suspended over suspected involvement in the smuggling of 300 tons of goods from China. They were among 30 arrests, with claims of 200 tons of contraband being imported daily.
CO-FOUNDER OF GOLD MINER PETROPAVLOVSK CHARGED WITH EMBEZZLEMENT
On 26 December, Reuters reported that Pavel Maslovskiy, 64, the co-founder and former chief executive at London-listed Russian gold miner Petropavlovsk, has been charged with alleged embezzlement and detained pending trial in Moscow. Maslovskiy founded Petropavlovsk with British businessman Peter Hambro in the 1990s but stepped down from the company in August.
RUSSIAN JUSTICE MINISTRY EXPANDS ‘FOREIGN AGENTS’ LIST TO INCLUDE NAVALNY FOUNDATION
On 26 December, Rferl reported that the Russian Justice Ministry has expanded the list of so-called “foreign agents” to include a foundation of Kremlin critic Aleksei Navalny and other human rights and health-care organisations.
MAJOR REFORMS TO AUSTRALIA’S FOREIGN INVESTMENT FRAMEWORK TO COMMENCE ON 1 JANUARY
On 24 December, an article from Hogan Lovells says that the Australian government has introduced the most significant reforms to Australia’s foreign investment laws (the FIRB regime) in nearly 50 years. A Client Alert provides a high-level summary of the key changes to the FIRB regime from 1 January. The firm warns that investors are well advised to tread carefully when it comes to considering whether FIRB approval is required.
WORLD DIAMOND COUNCIL EXPANDED WARRANTY TO COVER HUMAN RIGHTS, CORRUPTION, MONEY LAUNDERING
On 22 December, IDEX reported that the WDC says 200 companies are currently trying out its newly-updated rules on responsible sourcing. New guidance will provide a system of warranties requiring sellers at every point in the supply chain – for polished as well as rough diamonds – to include a statement on B2B invoices and memos guaranteeing that the diamonds are Kimberley Process-compliant (i.e. not being conflict or blood diamonds); and it has broadened it to cover human and labour rights, anti-corruption and AML. The WDC system of warranties offers sellers the option to attach a guarantee to the invoice, which shows that the goods meet certain standards.
WHAT YOU NEED TO KNOW ABOUT US TREASURY’S 72-PAGE NPRM FOR TRANSACTIONS WITH UNHOSTED WALLETS AND CERTAIN FOREIGN JURISDICTIONS
On 22 December, Chainanalysis produced this article saying that a Notice of Proposed Rulemaking (NPRM) on the US Federal Register that would require financial institutions and cryptocurrency businesses to submit reports, keep records, and verify the identity of customers in relation to transactions above certain thresholds involving unhosted wallets (also known as “self-hosted” or “non-custodial” wallets). Comments on the proposals must be received by 4 January. The post analyses the data behind the use of unhosted wallets in cryptocurrencies, pointing out that the vast majority of their use is for investment purposes or for individuals and organisations to move money between regulated exchanges. It also breaks down the key requirements in the NPRM, outline what the industry would have to do to comply, and offers thoughts on how the Rule could more effectively achieve its purpose: to curtail illicit activity.
ACLU: FBI IS SECRETLY BREAKING INTO ENCRYPTED DEVICES
The American Civil Liberties Union has released a statement saying that the FBI is secretly breaking the encryption that secures cell phones and laptops from identity thieves, hackers, and abusive governments, and it refuses to even acknowledge that it has information about these efforts — even though some details have been filed publicly in federal court. The ACLU says that it is suing to get some answers. It says that it appears that the FBI has built an in-house capability to break into these devices. The ACLU has filed suit under the Freedom of Information Act asking that the DoJ and the FBI disclose records relating to the relevant unit and its technological capabilities for retrieving information from locked electronic devices.
HUNGRY AND AFRAID: LIFE FOR FACTORY WORKERS MEETING UK DEMAND FOR CHEAP CLOTHES
On 22 December, the Guardian carried an article saying that Pakistani workers describe trying to survive on the less than £50 a month many of them earn making items for retailers such as Boohoo.
OneCoin MARKETING CHIEF IN PLEA TALKS WITH US PROSECUTORS
On 24 December, Coingeek reported that Karl Sebastian Greenwood, described as a marketing guru and allegedly responsible for soliciting new investors into the multi-billion dollar OneCoin scam is negotiating a plea deal with US prosecutors, as he faces charges of money laundering and securities fraud. He was arrested in 2018.
HUGO CHAVEZ’S NURSE FREED ON BAIL IN MADRID PENDING BRIBERY CHARGES FILED IN US
On 21 December, Finews.com reported that Claudia Díaz, a former nurse to Venezuelan ex-President Hugo Chávez, has been freed in Madrid but is barred from leaving Spain and relinquished her passport. Díaz, who went from nurse to Chavez to national treasurer between 2011 and 2013, and husband Adrián Velásquez Figueroa, face extradition to the US to face the charges. Díaz is one of the most colourful characters to emerge in the saga for allegedly moving $300 million worth of assets including gold to Liechtenstein.
IRAQ’S CENTRAL BANK UNDER INVESTIGATION FOR ALLEGED MONEY LAUNDERING
On 26 December, Middle East Eye reported that Iraq’s Supreme Judicial Council is investigating the country’s central bank and 13 private banks over alleged involvement in money laundering and terrorist financing operations. It is understood to be investigating cases of customs and tax evasion and potential fraud in connection with the foreign exchange auction run by the Central Bank of Iraq (CBI) and the 13 private entities. To acquire US dollars, Iraq has an account with the Federal Reserve, which draws on Iraq’s vast oil reserves and, as the government sells oil in US dollars, it uses the currency to buy Iraqi dinars from the CBI in order to finance salaries and public services. It then sells them on to private banks with a mark-up, in exchange for invoices presented by the private banks to cover imported goods – but it is alleged that there were no goods in some cases.
SHIPPING INDUSTRY PUBLISHES NEW AND IMPROVED CYBER SECURITY GUIDELINES
On 25 December, Hellenic Shipping News reported that the fourth edition of the industry cyber risk management guidelines, Guidelines on Cyber Security Onboard Ships has been released and lays the foundation for further improvements and refinement of companies’ cyber security risk assessments. This comes at a time when shipowners and ship managers are faced with a requirement to implement cyber risk management in their safety management systems (SMS) by the time of their first Document of Compliance audit after 1 January.
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
Panama Covid-19 update – Merry Christmas everyone!
Despite being Christmas, with a total lockdown now until 28 December, 2,986 new cases and 41 more fatalities added to the ongoing totals. There are now said to be 41,155 active cases, with 188 in ICU and 1,813 in other wards.
25 DECEMBER 2020
BRAZEN FRAUDSTERS OFFER CRIME SUBSCRIPTION SERVICE
On 23 December, the BBC reported that criminal organisations are offering subscription services to other fraudsters to teach them a scam in which they impersonate their victims. Fraud prevention organisation Cifas said fraudsters were sharing tips and getting more sophisticated in their attempts to steal money.
UK: REPORTING SCAMS PRETENDING TO BE FROM COMPANIES HOUSE
On 23 December, Companies House produced guidance on what to do if you think you’ve spotted a scam pretending to be from Companies House, with examples of scam emails, letters and telephone calls.
On 2 December, Global Trade Magazine carried an article saying that discussions have heated up internationally, primarily in OECD, on how global tax systems can keep up with the digitisation of the global economy, including where taxes should be paid and what portion of profits should be taxed, given that companies can achieve global sales without opening a storefront, can earn a profit on data moving across borders, and sell products that are not physical (like a video game or an app). The OECD Work Plan has 2 “pillars” – the first pillar explores what portion of transactions and profits can or should be taxed in the jurisdiction where the consumer resides, rather than where the producer of the product or service is located. The second pillar is concerned with developing tools that allow countries to require multinationals to pay a minimum level of tax to minimise their ability to shift profits to low and no-tax jurisdictions. Where to next?
IRAN SAYS IT WON APPROVAL FROM US TO TRANSFER MONEY TO BUY COVID VACCINES
On 25 December, Rferl reported that Iran has won approval from the US to use foreign currency reserves it holds abroad to buy coronavirus vaccines despite US sanctions on Iranian banks, the central bank chief has said. He said OFAC had approved the transfer to a Swiss bank.
RUSSIA JAILS EX-OFFICIAL 15 YEARS IN HIGH-PROFILE CORRUPTION CASE
On 25 December, the Moscow Times reported that a former Moscow region official has been sentenced to 15 years in a maximum-security prison. Alexander Shestun, the former head of the Serpukhov district of the Moscow region, was found guilty of taking bribes, fraud, money laundering and illegal participation in entrepreneurial activity.
New Notices to Importers with effect from 31 December –
2936 – import, export, and placement on the market in the UK of cat and dog fur, and products containing such fur continues to be prohibited after the end of the Brexit transition period;
2937 – reimportation of certain tiered-priced products remains illegal. These products are from pharmaceutical companies which produce and sell certain medicines to developing countries at a low cost to help fight key diseases such as HIV and malaria;
2938 – the import of goods that could be used for capital punishment, torture or other cruel, inhuman or degrading treatments or punishments are banned from being imported into the UK. The list of banned imports is set out in the attached table, and thThis import ban remains in force when the UK leaves the EU;
2940 – guidance on the process for acquiring Certificates of Free Sale (CFS), which are part of the product registration process that is required before you can place goods on the market in many countries;
2941 – import of landmines remains banned after transition period; and
2942 – sets out the licensing arrangements for imports of firearms and ammunition into the UK. It replaces all previous Notices to Importers about such imports. It has been updated to reflect the firearms import licensing regime when the UK leaves the EU whilst detailing the impact of the Northern Ireland Protocol for imports into Northern Ireland.
NEW INTERNATIONAL NUCLEAR SECURITY FORUM (INSF) TO UNITE GROUPS & EXPERTS TO REDUCE NUCLEAR TERRORISM RISK
On 15 December, an article from the Stimson Center said that it had announced the launch of the International Nuclear Security Forum (INSF), a new project that unites a diverse group of international experts to identify, create, and support strategies for reducing nuclear terrorism risks. Members represent a prominent and diverse cross-section of the nuclear security community.
On 23 December, a briefing from Clifford Chance said that ransomware attacks have drastically increased and become more sophisticated in the wake of the COVID-19 pandemic. This publication aims to help companies understand and address the risk of a ransomware attack. It provides guidance on how to prevent and prepare for ransomware attacks, what to do if and when a company is the victim of such an attack, important legal considerations from different key jurisdictions.
‘CLOCK STILL TICKING’ ON GIBRALTAR AGREEMENT AS UK/EU SEAL POST-BREXIT DEAL
On 24 December, the Gibraltar Chronicle reported that the Chief Minister has welcomed news of a post-Brexit UK/EU deal but said “the clock is still ticking” on negotiations for an agreement for Gibraltar’s future relations with the bloc. The deal between the UK and the EU does not cover Gibraltar.
US CUSTOMS SEIZES FRAUDULENT COVID-19 VACCINE WEBSITES
On 23 December, Homeland Preparedness News reported that US Immigration and Customs Enforcement has seized fraudulent COVID-19 vaccine websites. The domain names, mordernatx.com and regeneronmedicals.com, purported to be the websites of actual biotechnology companies developing treatments for the COVID-19 virus, were, in fact, spoofed websites used to collect personal information of individuals visiting the sites for fraud, phishing attacks, and/or deployment of malware.
NETHERLANDS: UNDERGROUND BANKER JAILED AND FINES AFTER €1 MILLION FOUND
On 11 December, a Ministry news release advised that the National Public Prosecutor’s Office has requested a jail sentence of 42 months and a fine of €27,215 for a man who is suspected by the Public Prosecutor of money laundering. The investigation was launched in April following information from another ongoing investigation and the discovery of €1 million.
On 22 December, an article from King & Spalding made this claim in respect of the National Defense Authorization Act (NDAA), which included the Corporate Transparency Act and the Anti-Money Laundering Act of 2020. If or when it reaches the statute book, it would bring about the most significant changes to US AML requirements since the USA Patriot Act of 2001. The CTA and AMLA would broaden the mission or purpose of the Bank Secrecy Act. The article explains in some detail what the changes would involve.
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
Panama Covid-19 update – well, a merry Christmas then? On the one hand, 220 Cuban doctors have arrived to help out in Panama, to relieve the pressure on the medical system and its staff. On the other hand, a record 51 deaths in one day.
As well as the 51 fatalities, there were another 3,413 new cases identified, meaning that there are now 39,914 active cases, with 187 in ICU and 1,683 in other wards.
Anyway, typical Panama family Christmas Eve meal late tonight (we are lucky to have some of 3 generations in one household). I hope that you, dear reader, have as good a Christmas Eve and/or Christmas Day as is possible under all the circumstances. Stay safe!
24 DECEMBER 2020
TRANSPARENCY INTERNATIONAL ADVISES UK FINANCIAL INSTITUTIONS TO WITHDRAW FROM AGYAPA GHANAIAN GOLD MINES DEAL
On 23 December, Ghana Web reported that Transparency International has urged the FCA to review the Government of Ghana’s application to list Agyapa Royalties Limited on the London Stock Exchange and reject the listing if corruption concerns are not satisfactorily addressed. Agyapa Royalties Limited is a Jersey-based Special Purpose Vehicle (SPV) that will own almost 76% of the royalties generated from 16 large gold mines in Ghana under a scheme that has caused controversy and political fallouts in Ghana.
UGANDA DETAINS LEADING LAWYER FOR LGBT RIGHTS ON MONEY LAUNDERING CHARGES
On 23 December, the Guardian reported that Nicholas Opiyo, known for representing LGBTQ+ people, was arrested in a restaurant in Kampala by plainclothes security and financial intelligence officers. The executive director of rights organisation Chapter Four Uganda was seized along with 3 other lawyers – Herbert Dakasi, Anthony Odur and Esomu Obure – and Hamid Tenywa, human rights officer of the opposition party, National Unity Platform (NUP).
CAYMAN ISLANDS MONETARY AUTHORITY HAS FINED WESTERN INTERNATIONAL TRUST COMPANY LIMITED $482,717 FOR BREACHES OF AML REGULATIONS
On 23 December, the Cayman Compass reported that the regulator said the fine was imposed for failing to apply CDD and EDD, as well as failing to identify beneficial owners, verify the source of funds, scrutinise transactions and consider all relevant risk factors. Some of the findings represented failings of the company to remediate similar issues uncovered in previous on-site inspections.
PAKISTAN: SEIZURE OF ASSETS OF SHEHBAZ FAMILY MEMBERS AND OTHERS IN MONEY LAUNDERING CASE
On 22 December, the Express Tribune reported that the National Accountability Bureau (NAB) had seized the assets of 6 accused, including family members of Pakistan opposition party the Muslim League-Nawaz (PML-N) President Shehbaz Sharif.
US WARNS CRYPTO STABLECOINS ON MONEY LAUNDERING AND RISK CONTROLS
On 24 December, KYC 360 reported that US financial regulators are warning firms involved with stablecoins to tighten protections against money laundering. Operators of the coins should maintain adequate cash reserves, according to a statement released by the President’s Working Group on Financial Markets, whose members include the heads of US Treasury, Federal Reserve, SEC and the Commodity Futures Trading Commission.
IS A GAMBLING DEBT ILLEGAL AND UNENFORCEABLE IN MALAYSIA?
On 14 October, an article from Skrine reported that the Malaysian High Court had sided with Wynn Resorts (Macau) in a multi-million-dollar lawsuit against a punter who had gambled at the Macau-based casino and had owed it millions of dollars. The Plaintiff is a licensed casino operator in Macau and in question was whether the credit agreement which facilitated the Defendant’s gambling activity by way of gaming credit and which then enabled him to be given the requisite number of gaming chips is a “wagering agreement” and if the Plaintiff was seeking to recover money “won” on a “wager. It was held that enforcement of a debt which arises under a credit facility to enable the defendant to gamble at the Plaintiff’s casino is not contrary to Malaysian public policy. It is said that the High Court decision is useful in clearing the uncertainties as to whether it is lawful to sue on a “gambling debt” in Malaysia – saying that the law only prohibits gaming contracts or wagering contracts and not gaming debt or gaming credit.
On 22 December, an article from Sidley Austin LLP published an article saying that FinCEN had issued a notice of proposed rulemaking regarding a proposal to impose on banks1 and money service businesses new recordkeeping, reporting, and identity verification requirements in relation to certain transactions involving convertible virtual currency (CVC) or digital assets with legal tender status if the counterparty to the transaction does not have an account with, or a digital asset wallet hosted by, a financial institution regulated under the Bank Secrecy Act or certain foreign financial institutions. The time for comments end on 4 January.
On 22 December, Stevnes & Bolton LLP published an article in the wake of the Johnny Depp libel case in London. It says that the case turned largely on witness evidence and the credibility, or otherwise of those giving evidence, shedding a light on the difficulty of assessing witnesses and over relying on them in proceedings. Short of polygraph tests, truth serums or time machines, the article asked, how do judges decide whether witnesses are telling the truth? The article considers such things as the demeanour of the witness and witness preparation, saying that assessing the truth or otherwise of witness evidence is notoriously difficult. Memory is fallible, and courts are having to increasingly rely on witness evidence, which many are ill-equipped to deal with. However, it says, through thorough preparation and consideration of the intense scrutiny witness evidence will be subject to, witness credibility can be strengthened, helping judges get closer to the truth.
US IMPOSES AEROSPACE EXPORT CONTROLS ON CHINA AND RUSSIA
On 23 December, AIN Online reported on the latest round of US measures against China, with a new Military End User (MEU) List requiring export licences for exports, re-exports, and in-country transfers of equipment and technology. Included on the list are leading aerospace groups such as China’s AVIC and COMAC, including AVIC’s General Aviation division, as well as the Aero-Engine Company of China, Harbin General Aircraft Industries, and Xian Aircraft. In Russia, United Aircraft Corporation, Sukhoi Civil Aircraft, Irkut, Kazan Helicopters, and Beriev are all on the new MEU List.
US SENATOR ASKS TREASURY FOR SANCTIONS BRIEFING ON OLEG DERIPASKA
On 24 December, Bloomberg Quint reported that Sherrod Brown, of the Senate Banking Committee, has asked the US Treasury for a briefing about allegations that Russian billionaire Oleg Deripaska continued to influence day-to-day activities of the Rusal aluminium company and whether such involvement would breach a 2018 sanctions relief arrangement. It has been reported that European officials had provided information to the US government indicating that Deripaska continued to exert control this year over Rusal, one of the world’s largest aluminium producers.
CZECH INTELLIGENCE REPORT HIGHLIGHTS PROLIFERATION CONCERNS FROM PAKISTAN
On 24 December, DNA reported that the Czech Republic’s national intelligence agency, Security Information Service, in its annual report has highlighted increased proliferation concerns from Pakistan, a worry pointed out by a German government report earlier this year. It lists Pakistan along with North Korea, Syria, Iran as “countries of proliferation concerns” which “continued their covert attempts to procure internationally controlled items”. The report explained that the countries used less known or purpose-created companies and third countries for re-exportation and tried to disguise money transfers in order to avoid being traced back.
HONG KONG: SFC TO REQUIRE OPEN-ENDED FUND COMPANIES TO APPOINT RESPONSIBLE PERSON FOR AML
On 24 December, Regulation Asia reported that the Securities and Futures Commission has released consultation conclusions on proposed CDD requirements for OFC, following a consultation launched in September. The proposal is to require OFC to appoint a responsible person to carry out AML/CFT functions, similar to requirements imposed on limited partnership funds.
DIRTY MONEY ‘CONTINUING TO FLOW’ BETWEEN PAKISTAN AND UK
On 24 December, an article in The News International in Pakistan reported that a UK Government National Risk Assessment report has revealed that dirty money is continuing to flow from Pakistan to the UK and vice versa. The report has named Pakistan, China, Hong Kong, Russia and UAE as the hotspot countries from where the most flow of money takes place. On Pakistan, the report said that the UK continues to have close economic links to Pakistan, with significant remittance flows estimated at approximately $1.7 billion in 2017. The report noted that these economic and cultural ties “also enable and disguise illicit funds to be transferred between the UK and Pakistan, including through illegal informal value transfers”; and that elements from Pakistan are buying high-value assets in the UK and elements from the UK are buying high value assets in Pakistan, using cash and dirty money.
ALLEGED IRISH CRIME BOSS DANIEL KINAHAN SUED FOR MONEY LAUNDERING AND ABUSING US LAW
On 21 December, the Irish Independent reported that Daniel Kinahan is being sued by a boxing manager in the US under its organised crime laws. He and sports management company MTK Global are alleged to have signed champion boxer Joseph Diaz, 28, earlier this year while he was still under contract and offered him $100,000 up front. The boxer’s former manager, Moses Heredia, has now filed a civil cause of action over the signing, along with his company Heredia Boxing Management.
LEADING BUSINESS AVIATION GROUPS FORM ALLIANCE AGAINST ILLEGAL CHARTERS
On 17 December, the Blue Sky website carried an article saying that a global group of leading business aviation organisations have announced a coordinated effort to combat illegal on-demand charter flights in the sector. The group, called the Air Charter Safety Alliance, will raise awareness among potential customers, charter brokers, ministries of transport, and national aviation authorities regarding the use of unauthorised aircraft operators for on-demand flights. It is said that the coalition will develop and promote several safety programs that assist on-demand charter operators while continuing to improve their already impressive safety performance.
The UK has published 2 Orders-in-Council. One extends with modifications the ISIL (Da’esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019, as amended from time to time, to all British Overseas Territories except Bermuda and Gibraltar (which implement sanctions under their own legislative arrangements). The other revokes Orders in Council which gave effect in specified British Overseas Territories to various sanctions regimes established during the UK membership of the EU or during the Brexit Transition Period on 31 December.
TUNISIAN EX-PRESIDENTIAL CANDIDATE NABIL KAROUI REARRESTED
On 24 December, the Daily Mail reported that controversial Tunisian media mogul and former presidential candidate Nabil Karoui was rearrested in connection with an affair involving money laundering and tax evasion. He was arrested in August last year after being indicted on tax evasion and money laundering charges stemming from a 2017 investigation, and has been rearrested on the same charges.
HONG KONG MEDIA TYCOON JIMMY LAI WINS BAIL AFTER 3 WEEKS IN JAIL
On 24 December, the Irish Independent reported that Hong Kong media tycoon Jimmy Lai has been granted bail after he was remanded in custody over fraud and national security-related charges. An outspoken advocate for democracy in Hong Kong, he was charged with fraud in December for allegedly violating the lease terms for office space for his media company, Next Digital; and then later charged again under the national security law, on suspicion of colluding with foreign forces and endangering national security.
CRYPTO HEDGE FUND FOUNDER STEFAN QIN ACCUSED OF FRAUD BY SEC
On 24 December, Coindesk reported that the SEC has accused the founder of hedge fund Virgil Capital, which specialises in cryptocurrency arbitrage, of fraud. Stefan Qin, 23, has been accused by the SEC of “fabricated records” for failing to redeem $3.5 million in investments and attempting to withdraw $1.7 million in investor funds to pay off Chinese loan sharks. The SEC accuses Qin of fraud involving the Virgil Sigma Fund LP of New York and VQR Multistrategy Fund LP of the Cayman Islands.
INDIA: ENFORCEMENT DEPARTMENT RESTRAINS PROPERTIES WORTH OF AGRI GOLD GROUP
On 24 December, DNA reported that, a day after the Enforcement Directorate arrested 3 promoters of the Agri Gold Group of Companies in a Ponzi scheme fraud case, the agency restrained properties of the group.
MALAYSIAN RUBBER GLOVE MANUFACTURERS REMINDS GLOBAL GLOVE IMPORTERS TO STAY VIGILANT AGAINST FRAUDS AND SCAMS
On 23 December, MSME reported that the President of the Malaysian Rubber Glove Manufacturers Association (MARGMA) reminded the buyers from around the World to be vigilant of scammers and con man while sourcing for rubber gloves, and that the global shortage of rubber gloves will last beyond Quarter 1 of 2022. The article lists the major types of scams reported over this past year where perpetrators are not manufacturers. The Association calls on buyers to beware of who they are dealing with and if in doubt, to check with the manufacturers directly.
On 24 December, the Department of International Trade published Notice to Exporters 2020/22 which provided information about a licence which provides regulation on the provision of technical assistance, financial services and funds, and brokering services. The licence comes into force at 11 pm on 31 December 2020 and permits the provision of certain technical assistance, financial services and funds, and brokering services otherwise prohibited under regulations 43, 44 or 45 of the Russia (Sanction) (EU Exit) Regulations 2019 in relation to energy-related goods. The licence only permits these activities where the goods are not for use in Russia.
CLOUD COMPUTING: A BRIEF OVERVIEW OF INTELLECTUAL PROPERTY ISSUES
On 23 December, an article from Smart & Biggar said that the majority of businesses worldwide using computing resources and storing data “in the cloud.” However, despite the ease of use and convenience of cloud computing, moving data and services into the cloud raises several legal issues for both cloud computing providers and users. The article highlights some of the issues and questions related to intellectual property (IP) rights raised by cloud computing. These include issues for patent owners, copyright infringement issues, confidential information and trade secrets.
PHILIPPINES: ARREST WARRANTS ISSUED FOR GAMBLING FRAUDSTERS
On 24 December, Calvin Ayre reported that arrest warrants had been issued in the Philippines for Jan Robert Gustaffson, Sylvia Bernadette Gonzales de Guzman, Maria Arleen Aldaba and Sherwin Quiambao, all of whom face multiple counts of qualified theft. Quiambao remains at large while Gustaffson, a Swedish national, reportedly fled the country in February. They are said to be part of a criminal group that launched an attack against their former employer, Spectrogen Corp, a business process outsourcing firm supplying services to Philippine-based online gambling operators.
WALMART FACES LAWSUIT FOR ROLE IN US PRESCRIPTION OPIOID CRISIS
On 24 December, OCCRP reported that the US authorities are seeking what could amount to billions of dollars in civil penalties against the retail giant Walmart for allegedly letting its pharmacies fill thousands of suspicious prescriptions across the country at the height of its opioid crisis. Prosecutors say that Walmart “systematically” violated the Controlled Substances Act over the course of several years, even as it recognized the fact that the nation was suffering from a prescription drug abuse epidemic.
BREXIT: TEMPORARY WAIVER FOR SAFETY AND SECURITY REQUIREMENTS ON EXPORTS FROM GREAT BRITAIN FOR 2 CATEGORIES OF MOVEMENTS
On 24 December, the Chartered Institute of Logistics & Transport reported that the temporary waiver will apply from 1 January to the movement of empty pallets, containers and vehicles moved under a transport contract to the EU; and movements of goods in Ro-Ro vehicles where there is a requirement for an exit summary declaration. In such cases, temporarily, there will be no requirement for an EXS. This will only apply until 31 March, and from 1 April safety and security export declarations will be legally required for empty pallets, containers and vehicles moved under a transport contract; and movements of goods in Ro-Ro vehicles.
PLANNED AMENDMENTS TO THE GERMAN CIVIL CODE TO STRENGTHEN CONSUMER PROTECTION RIGHTS
On 24 December, Baker McKenzie reported that, in November, the German Federal Ministry of Justice and Consumer Protection published 2 draft Bills for the implementation of certain aspects of the Directive on digital content and services and the Directive on better enforcement and modernisation of consumer protection rules. If adopted, the draft Bills will amend the German Civil Code.
CHANGES TO THE EVIDENCE OF ULTIMATE BENEFICIAL OWNERS IN THE CZECH REPUBLIC
On 24 December, Baker McKenzie reported that the Czech parliament is adopting a new regulation with respect to the registration of ultimate beneficial owners (UBO). Although the obligation of companies to register their UBOs has existed for some time under the Czech regulatory regime, it has shown to be insufficient in practice as the absence of any penalties or sanctions has led to the vast majority of business corporations still neglecting this obligation to register their UBO.
SWITZERLAND: FIFA FILES CRIMINAL COMPLAINT AGAINST BLATTER OVER LOSS-MAKING MUSEUM
On 22 December, Swissinfo reported that FIFA has issued a lawsuit against Joseph “Sepp” Blatter alleging criminal mismanagement of funds. The complaint accuses the disgraced former president of wasting $564 million on a Zurich-based World Football Museum, which opened in 2016,
On 22 December, techradarpro reported about a new smart dark web indexing service called QUO, described as “a dark web, full-text search engine designed to create a continuously updated index of onion pages” in order to provide its users with a way to “explore the dark web quickly and anonymously, without logs, cookies and JavaScript”.
On 23 December, the BBC reported that Shopify provides the technology backbone for businesses to set up a store and sell their products online, and it has become valuable to small businesses during the Covid-19 pandemic, because its services are cheap and easy to set up. However, research has shown that nearly 26,000 of the 124,000 Shopify stores it analysed were “related to fraudulent practices”.
BELGIUM: MAGISTRATES SAY THAT IT IS VIRTUALLY IMPOSSIBLE IN BELGIUM TO CARRY OUT THE NECESSARY RESEARCH INTO THE FINANCES OF MAJOR CRIMINALS
On 24 December, the Brussels Times reported that a new book by a group of magistrates made this claim. It is said that, thanks to a lack of manpower and resources, it is virtually impossible in Belgium to carry out the necessary research into the finances of major criminals. Although the book concentrates on financial crimes as commonly thought of, it also makes clear that all forms of serious crime are financial and economic at their heart: drugs, human trafficking, cybercrime, prostitution. The book calls on the Belgian government to introduce a systematic pairing of a financial investigation in every serious case of a criminal investigation; and offers the model of the iCOV in the Netherlands – the infobox for Criminal and Unexplained Assets – a cooperation between police, customs, tax inspectors, the anti-money laundering unit and the prosecutor’s office.
NEW UK SANCTIONS AND EXPORT CONTROLS RULES – TOP 10 TAKEAWAYS
On 24 December, Latham & Watkins LLP published a Client Alert which sets out top 10 takeaways for how the end of the Brexit transition period will affect sanctions and export controls in the UK
AUSTRALIA HAS IMPLEMENTED “PHASE 1.5” IN AML/CFT REFORMS “SECOND TRANCHE” OF REFORMS REMAINS OUT OF GRASP
On 24 December, Allen & Overy published an article about a new AML law passed by both Houses of Parliament on 10 December without amendment, and which received Royal Assent on 17 December. The new Act implements incremental reform, most relevantly to reporting entities, in the areas of customer due diligence and correspondent banking relationships. A link to an earlier article on the Amendment Act’s introduction into Parliament, is provided and contains an overview of its key provisions. The Act was introduced in response to the highly critical FATF report on Australia’s AML/CFT legislative framework in 2015. However, it does not extend the system to designated non-financial businesses (DNFBP) and professional sectors (including real estate agents, accountants, lawyers, precious stones dealers, and trust and company service providers), as was originally proposed. It has been described as “Phase 1.5” in Australia’s AML/ CTF reforms, and addresses some – but not all – of the deficiencies identified by FATF.
UKRAINE: TATAROV BRIBERY CASE TAKEN FROM NABU – ALLOWING HIM TO ESCAPE ARREST
On 24 December, the Kyiv Post reported that the Prosecutor General’s Office has taken a bribery case against President Volodymyr Zelensky’s Deputy Chief of Staff Oleg Tatarov from the National Anti-Corruption Bureau (NABU), prompting accusations that it is protecting the suspect. The case was given to the Security Service of Ukraine (SBU), which is believed by civic watchdogs to be more politically dependent, less effective than the NABU, and is run by Zelensky’s friend, Ivan Bakanov. Tatarov is under investigation in a case linked to Maksym Mykytas, a former lawmaker and ex-president of state-owned construction firm Ukrbud. Mykytas has been charged with alleged embezzlement conducted through an Ukrbud housing development contract for Ukraine’s National Guard.
2 US ARMY RESERVISTS RAN A $3 MILLION FRAUD AND MONEY LAUNDERING SCHEME THROUGH ONLINE ROMANCE SCAMS AND SPOOFED EMAILS
On 24 December, Insider reported that 2 US Army reservists have pleaded guilty to conspiracy to commit wire and bank fraud related to a $3 million scheme where the men tricked elderly men and women into sending them money. They created fake emails and sometimes gained unauthorised access to business email accounts in an effort to induce victims into transferring money into their bank accounts. One of the victims of the scheme included a US Marine Corps veteran’s organisation.
JAPAN: ABE DENIES ROLE IN CHERRY BLOSSOM SCANDAL THAT RESULTED IN CHARGES FOR AIDE
On 24 December, Nikkei Asia reported that former Japanese PM Shinzo Abe has denied any knowledge of his office picking up the tab for lavish dinner parties held for his supporters in a scandal that has brought charges against one of his aides. The Tokyo District Public Prosecutors Office brought a summary indictment against Abe’s former aide for allegedly failing to report expenses related to the events. Prosecutors had questioned Abe earlier but decided against bringing charges against him.
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
Following the last-minute agreement between the UK and the EU (and with the suggestion being made that it was last minute not only because of the chance such brinksmanship might force a few more concessions, but also so that any criticism or even analysis of the agreement is practically impossible before it takes effect, in 7 days time), the UK has produced this 34-page summary of the many hundreds of pages of the agreement. No real detail, of course. A quick glance does reveal –
A Protocol to enable the Parties to work together while upholding their respective customs regimes, to safeguard revenue and prevent fraud through efficient and reciprocal exchange of information and mutual assistance across customs matters;
An Annex to provide for the mutual recognition of the Parties’ respective Authorised Economic Operator (AEO) security and safety schemes. As a result, AEO assessed and recognised under either the UK or EU scheme will face fewer controls relating to safety and security when moving their goods between the UK and the EU, facilitating trade and flow at the border;
A s Protocol which builds on existing international agreements, including the OECD Convention on Mutual Administrative Assistance in Tax Matters. It will enable UK and EU authorities to cooperate and exchange information relating to VAT, including for the purpose of combating VAT fraud. The Protocol will also allow for either Party to make a request of the other to recover unpaid customs duties, excise or VAT on its behalf;
It provides for streamlined extradition arrangements, akin to the EU’s Surrender Agreement with Norway and Iceland, but with appropriate further safeguards for individuals beyond those in the European Arrest Warrant;
Provision for effective cooperation on mutual legal assistance in criminal matters supplementing the relevant Council of Europe Conventions by providing for streamlined processes, including standard formats for making requests and specific timescales for action;
It commits the UK and EU to support international efforts to prevent and fight against money laundering and terrorist financing, exchange relevant information, and maintain comprehensive AML/CFT regimes, and to maintain high standards of beneficial ownership transparency, beyond FATF minima; and
It provides for effective cooperation on asset freezing and confiscation, supplementing the relevant Council of Europe Conventions by providing for streamlined processes, including standard formats for making requests and specific timescales for action.
The devil will be in the detail, and there still appears a great deal of detail to be finalised or even agreed.
This summary is signed by the UK Prime Minister. It will be interesting to see (and compare) the EU equivalent, and to see if there is any problems from some Member States.
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 24 December, Baker McKenzie reported that, in November, Canada introduced new federal privacy legislation that, if adopted, will create one of the strictest data protection regimes in the world, accompanied by some of the most severe financial penalties, rivalling the standards in the EU and California. Companies with a connection to Canada will need to build the new federal law, and applicable provincial laws, into their global compliance strategy.
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 24 December, Eurasia Review reported that President Recep Tayyip Erdogan has authorized controversial oil exploration by a survey vessel in the eastern Mediterranean for a further 6 months, until June next year. He has also obtained parliamentary approval for troop deployment in Libya for another 18 months. The survey vessel Oruc Reis will now continue searching for oil and gas in territorial waters claimed by Greece and Cyprus, in a move that will infuriate the EU.
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 24 December, BNN Bloomberg reported on the pervasiveness of fraud in the $214 billion Economic Injury Disaster Loan programme, meant to help businesses hurt by Covid-19. In hundreds of neighbourhoods in Chicago and across the country, the records show government aid flowing to statistically impossible numbers of small businesses, many of which appear on closer inspection to be fictional. Grants given included those that went to 21 people who claimed to have businesses at the same ranch-style house. Thousands more grants and loans went to self-described farmers operating in densely populated cities, including more than $150,000 approved for a pair of poultry farms in Apartment 13D of a swanky high-rise in Manhattan’s Greenwich Village. It says that the disaster-aid programme has distributed about $194 billion in low-interest loans to 3.6 million small businesses across the country, as well as $20 billion in 5.8 million grants of as much as $10,000 that don’t have to be repaid. Its separate from the $525 billion Paycheck Protection Program, which offered forgivable loans through private lenders. The 2 poultry farms in Greenwich Village appear to be the invention of a scammer who stole the identity of the apartment’s residents, a church treasurer and his wife – and the former is quoted as asking – would it be too much to ask for the government to figure out it shouldn’t be making loans to poultry farmers in New York City?
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 