On 27 May, Ekathimerini reported that a businessman, a former General Secretary for Procurements at the Ministry of Defence and a Monaco-based British lawyer and businessman, have been acquitted of charges of bribery and money laundering in a case over 20 years old.  The case concerned the sale, in 1999, of 4 Erieye Airborne Early Warning and Control systems by Swedish company Ericsson Microwave that were mounted on Brazilian Embraer early warning aircraft.  However, the court found Christos Toumbas, Ericsson Microwave’s agent in Greece, and Swiss banker Jean-Claude Oswald, guilty, and they were sentenced to 3 and 6 years, respectively. Oswald was sentenced in absentia. 

https://www.ekathimerini.com/news/1161924/acquittals-in-defense-systems-bribery-case/

 

 

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On 27 May, OFAC published a replacement FAQ relating to US sanctions imposed, but suspended, against the Chinese company.  FAQ 880 is replaced by FAQ 896.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210527_43

https://home.treasury.gov/policy-issues/financial-sanctions/faqs/896

 

 

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On 25 May, ZD Net reported that an investigation into the Hydra marketplace has revealed surging transaction volumes and a thriving – albeit illicit – cryptocurrency ecosystem.  It says that Hydra was well-known for the sale of narcotics, but as time has gone on, the market has expanded to include stolen credit card data, counterfeit documents including ID, fake banknotes, and cyberattack services, among other offerings. 

https://www-zdnet-com.cdn.ampproject.org/c/s/www.zdnet.com/google-amp/article/china-reiterates-warning-against-cryptocurrency-use-in-transactions/

https://www.flashpoint-intel.com/blog/chainalysis-hydra-cryptocurrency-research/

 

 

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The IMF has a new start page for news, articles, blogs etc

https://www.imf.org/en/Topics/governance-and-anti-corruption

 

 

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On 26 May, Insight Crime reported that a new corruption inquiry offers a unique chance for Mexico to confront long-rumoured bribery between those at the highest levels of government and international companies.  It is said that the Attorney General’s Office has accused a number of politicians, including former President Enrique Peña Nieto (2012-2018), of forming a criminal ring between 2013 and 2014.  The list of politicians being accused includes some of Mexico’s most influential figures.

https://insightcrime.org/news/mexico-unreachable-elites-targeted-rare-corruption-investigation/

 

 

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On 27 May, an article on the Sixth Tone website is concerned with “stone gambling”, explaining that it has long been a popular method of trading rough jadeite across the China-Myanmar border.  The outer layer of some jadeite stones is so weathered that it is impossible to judge the quality of the mineral underneath, and only after they are cut open can appraisers ascertain their true value.  It is said that thrill-seeking gamblers take advantage of this by buying up uncut jadeite in hopes of striking it rich.  It appears that the rise of livestreamed stone-gambling events has pushed the craze to new heights, and livestreams have dispensed with the secrecy and regional limitations that originally defined stone gambling, making the practice more accessible. 

https://www.sixthtone.com/news/1007559/crazy-stones-the-chinese-gamblers-betting-millions-on-rocks

 

 

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On 27 May, EU Observer reported that the Netherlands, Belgium, France, Germany and Luxembourg have called on the European Commission to improve the supervision of biofuels across the European market, after cross-border fraud was detected from the Netherlands, Belgium and the UK.  The 5 Member States produce the majority of European biofuels.  The initiative follows a number of alleged biodiesel fraud cases in which buyers were reportedly sold unsustainable used cooking oil (UCO) containing palm oil imported from outside the bloc.

https://euobserver.com/tickers/151966

https://www.euractiv.com/section/biofuels/news/five-eu-member-states-demand-stricter-oversight-of-biofuels/

 

 

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On 27 May, the Malta Independent reported that the Council of Europe has confirmed that Malta has passed the Moneyval assessment, with the country no longer having any “non-compliant” or “partially compliant” ratings.  However, Malta will remain in enhanced follow-up and will report back to MONEYVAL on further progress to strengthen its implementation of AML/CFT measures in 2 years.

https://www.independent.com.mt/articles/2021-05-27/local-news/Confirmed-Malta-passes-Moneyval-test-with-no-non-compliant-ratings-6736233820

https://www.coe.int/en/web/moneyval/-/malta-improvement-in-fighting-money-laundering-and-terrorist-financing

https://rm.coe.int/moneyval-2021-7-fur-malta/1680a29c70

https://lovinmalta.com/news/malta-moneyval-passes-official

 

 

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On 26 May, the Council of Europe released the 4^th evaluation follow-up report on Hungary.  It says thatHungary has improved legislation regarding PEP, with an upgrading its rating on FATF Recommendation 12 from “partially compliant” to “largely compliant”.  The follow-up report also looks at progress made in the implementation of new requirements relating to Recommendation 15 (Virtual Assets and Virtual Asset Service Providers), which has changed since Hungary’s last follow-up report was adopted -the rating, originally rated as “compliant”, is now “partially compliant”.  Hungary is now “compliant” on 5 of the 40 FATF Recommendations and “largely compliant” on 29.  It remains “partially compliant” on 6 of the 40 FATF Recommendations.  As is usual with such follow-up reports, effectiveness ratings were not addressed.  Hungary will remain in enhanced follow-up, and will continue to report back to MONEYVAL.

https://rm.coe.int/moneyval-2021-6-fur-hungary/1680a29ba4

 

 

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On 26 May, the Institute of Export and International Trade released the recording of a webinar, and accompanying Powerpoint slides, about the new EU dual-use Regulation which is due to come into force this Summer, bringing in new EU autonomous controls, new and updated control parameters and other important clarifications.

https://www.export.org.uk/news/567143/Updates-to-the-EU-export-control-regime–webinar-recording-and-slides.htm

 

 

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