Panama Covid-19 update – another with over 1,000 new cases, and with numbers hospitalised slowly rising…1,030 new cases and 6 new fatalities announced today (including 2 fatalities from earlier periods). There are now 12,832 active cases, with 108 in ICU and 583 in other wards.
2 JULY 2021
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CYBER INSURANCE AND THE CYBER SECURITY CHALLENGE
On 28 June, an Occasional Paper from RUSI says that cyber risk poses a complicated and growing challenge for governments, businesses and consumers. This paper explores cyber insurance’s potential contribution to solving this problem. It says that as moves to prevent, mitigate and recover from malicious cyber activity has progressed, one tool that has gained traction is cyber insurance and, if it can follow the path of other insurance classes, it could play a significant role in managing digital risk. This paper explores whether cyber insurance can incentivise better cyber security practices among policyholders. However, cyber insurance as a whole is still struggling to move from theory into practice when it comes to incentivising cyber security.
1 JULY MARKS THE LAUNCH OF THE LEGAL ONLINE CASINO MARKET IN GERMANY
On 1 July, iGB reported that operators in Germany will now be able to offer poker and slot games online. Previously, sports betting was the only form of online gambling permitted in the country. The State Treaty on Gambling (GlüNeuRStv) entered into operation on 1 July.
https://igamingbusiness.com/new-era-for-german-igaming-begins-with-state-treatys-implementation
BRAZILIAN PRESIDENT FIRES A HEALTH OFFICIAL AFTER HE REPORTEDLY ASKED FOR A BRIBE IN A CORONAVIRUS VACCINE DEAL
On 1 July, KYC 360 reported that Brazilian President Jair Bolsonaro fired a health official on after he reportedly asked for a bribe in a coronavirus vaccine deal, the latest graft accusation to rock the government. The scandal has triggered fresh calls for impeachment against Bolsonaro.
UK ‘GOLDEN VISA’ FIRM FILES FOR INSOLVENCY FOLLOWING FCA BAN
On 2 July, KYC 360 reported that London-based wealth manager Dolfin Financial (UK) Limited, which helped its overseas investors with visas, has filed for administration. As well as providing financial services, the firm also helped manage investments that allow wealthy clients to gain Tier 1 Investor Visas. The FCA began a review of Dolfin in December 2019 and stopped the firm carrying out regulated activities in March.
https://www.riskscreen.com/kyc360/news/u-k-golden-visa-firm-files-for-insolvency-following-fca-ban/
https://www.fca.org.uk/news/news-stories/restrictions-placed-dolfin-financial-uk-ltd
RECENT CASES ON CIVIL FORFEITURE OF PROPERTY UNDER MALAYSIA’S AML LAW
On 1 July, an article from Skrine examines several recent cases which shed light on the courts’ approach to an application for forfeiture of property under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The article says that it is clear from the cases discussed that the courts adopt a strict approach in evaluating the evidence presented even if the standard is on a balance of probabilities and particular importance is placed on the sufficiency and admissibility of evidence.
https://www.skrine.com/insights/alerts/july-2021/recent-cases-on-civil-forfeiture-of-property-under
LEGALITY OF ELECTRONIC SIGNATURES IN HONG KONG
On 28 May, an article from Haldanes Solicitors considers the position of electronic signatures under Hong Kong law.
https://www.haldanes.com/legality-of-electronic-signatures-in-hong-kong/
AUDIO: THE INTRODUCTION OF LIMITED LIABILITY COMPANIES (LLC) IN GUERNSEY
A short audio addresses questions in regard to the introduction of limited liability companies (LLC) to Guernsey.
TALIBAN DONATIONS SOAR IN PAKISTAN AHEAD OF US PULLOUT FROM AFGHANISTAN
On 19 June, VoA reported that donations to the Afghan Taliban are on the upswing in Pakistan border regions as the militant group intensifies attacks against Afghan forces ahead of the US troop withdrawal, locals told VOA.
https://www.voanews.com/extremism-watch/taliban-donations-soar-pakistan-ahead-us-pullout-afghanistan
CAMBODIAN ENVIRONMENTALISTS CHARGED WITH TERRORISM
On 18 June, UCA News reported that Cambodian police allege the Mother Nature activists received terrorism financing from abroad to topple the government. It said that authorities have arrested 3 people from the environmental group, charged them with terrorism and alleged their activities were “planned by foreign bosses abroad”. The US has cut aid to the Cambodian government wildlife and environmental conservation programmes, saying the government had failed to defend protected areas from illegal logging.
https://www.ucanews.com/news/cambodian-environmentalists-charged-with-terrorism/92937#
INDONESIAN EXTREMISTS FINANCE JIHAD WITH CHARITY
On 24 June, France 24 reported that generous Indonesians donating their spare change to the poor and needy are unwittingly helping finance deadly terror attacks and jihadist training camps, in a scam that has netted big money for extremist groups.
CANADA: FINTRAC SEES RISING THREAT FROM FAR-RIGHT TERRORISTS
On 15 June, the Investment Executive reported that FINTRAC had said in a bulletin that banks and investment dealers should be aware of these groups’ financing behaviour. FINTRAC is said to be keeping tabs on transactions involving ideologically motivated violent extremist (IMVE) groups. The bulletin also detailed FINTRAC’s observations regarding so-called “lone actors” who attempt to carry out attacks by themselves.
MONTENEGRO CONSIDERS BANNING TOBACCO STORAGE TO COUNTER SMUGGLING
On 2 July, Balkan Insight reported that, concerned by the country’s reputation as a hub for smuggling counterfeit cigarettes into Europe, the authorities have announced plans to outlaw tobacco storage in the main port of Bar. They announced the start of a legal process to prohibit storage of tobacco products.
IRAQ AND SYRIA: THE LOCAL AND REGIONAL IMPACT OF ILLICIT ECONOMIES
On 2 July, Global Risk Insight published a second article which examines illicit economic activities in greater detail showing the impact on a local to regional scale and the wider reverberating consequences. Among other things, it says that along the Syria and Iraq border cross-border oil and gas trading, weapons, human and goods smuggling are rampant. In Syria, the drug Captagon is widely used amongst armed actors to improve concentration, energy, and drug-infused courage; and the use of crystal-meth has increased in Iraq in recent years, making up to 60% of Iraq’s drug trade.
INDIA: BOLLYWOOD ACTRESS YAMI GAUTAM SUMMONED IN ALLEGED MONEY LAUNDERING CASE
In India on 2 July, the media was full of stores about this Bollywood actress, saying that the Enforcement Directorate (ED) has summoned Bollywood actress Yami Gautam for questioning in an alleged money laundering case.
BERMUDA: CRYPTOCURRENCY EXECUTIVE FACES EXTRADITION TO FACE US MONEY LAUNDERING CHARGES
On 2 July, the Royal Gazette reported that Gregory Dwyer, a Australian senior employee for the cryptocurrency derivative exchange platform BitMEX, and living in Bermuda is facing extradition to the US to face money laundering charges. A criminal indictment alleges the Bitmex exchange was being used by hackers to launder stolen money, and by people in countries under US sanctions, including Iran. It also claims the company solicited and accepted customers in the US, despite not being registered with the CFTC and even after it sought to exempt itself from US law by incorporating in the Seychelles.
TRINIDAD PASTOR CHARGED WITH MONEY LAUNDERING
On 2 July, Storbroek News reported that Pastor Vinworth Dayal, a pastor from south Trinidad, who allegedly attempted to change almost $28 million in old $100 notes into new polymer replacements on the deadline for doing so almost 2 years ago, has been granted $10 million bail after appearing in court charged with money laundering.
BACKGROUND CHECKS – WHEN HOW AND WHY?
On 2 July, Bird & Bird published a webinar saying that its Commercial and Employment expert lawyers guides one through this very interesting and topical subject. It includes –
- General employment and GDPR aspects to consider in relation to background check/screenings;
- The ability to use a screening company and/or a third-party service provider;
- A practical guide explaining (i) the purpose of background checks/screenings, (ii) how to perform an appropriate background check/screening, (iii) when should background checks/screenings take place to be in a position to act, and (iv) how should an employer act in case the background check/screening is not clean; and
- How to deal with sensitive personal data.
https://watch.twobirds.com/background-checks-when-how-and-why
PROCEEDS OF CRIME ACT: CODES OF PRACTICE JUNE 2021
On 2 July, the Home Office published updated versions of the various Codes of Practice for use of the Act.
https://www.gov.uk/government/publications/proceeds-of-crime-act-codes-of-practice-june-2021
12 ARRESTED IN SAUDI OVER COVID VACCINE FORGERY
On 2 July, the Middle East Monitor reported that a number of employees from the Ministry of Health have been arrested on suspicion that they modified residents’ coronavirus vaccination records in exchange for fees.
https://www.middleeastmonitor.com/20210702-12-arrested-in-saudi-over-covid-vaccine-forgery/
38 ALBANIANS ARRESTED IN ITALIAN-LED DRUG TRAFFICKING PROBE
On 2 July, ABC News reported that Albanian authorities say 38 Albanian nationals including a prosecutor, a government department head and 3 senior police officers have been arrested for drug trafficking, corruption, abuse of post and money laundering. 28 of the suspects – including 2 bodyguards who worked for a former Albanian interior minister – were arrested in Albania.
US DEPARTMENT OF TRANSPORTATION TO BAN PASSENGER FLIGHTS TO BELARUS
On 1 July, an article from Holland & Knight reported that, on 29 June, DoT issued an order prohibiting the sale of passenger air transportation between the US and Belarus, subject only to possible exceptions granted for humanitarian or national security-related travel. This followed the diversion of a Ryanair flight, which was forced to divert to Minsk on 23 May. The prohibition is expected to become final shortly after the issuance of a final order.
https://www.jdsupra.com/legalnews/aviation-update-department-of-5065555/
GOVERNMENT OF BURKINA FASO SUED AFTER OCCRP INVESTIGATION
A 2 July, OCCRP reported that a grassroots organization in Burkina Faso has filed a complaint against the government, citing an OCCRP investigation that connected the state to a massive smuggling operation which financed regional terrorism. The action calls for a criminal investigation into OCCRP’s findings re Apollinaire Compaore, a Burkinabe tycoon and the representative of Philip Morris in West Africa. The investigation by OCCRP showed that Apollinaire had for 2 decades overseen a smuggling operation that saw billions of cigarettes fall into the hands of armed groups in Mali.
https://www.occrp.org/en/daily/14743-government-of-burkina-faso-sued-after-occrp-investigation
ONLINE SEX TRAFFICKING MARKET HAS EVOLVED SINCE 2018
On 2 July, OCCRP said that a GAO report in the US has revealed that the online sex trafficking industry has become more fragmented since passage of a new federal sex trafficking law and the seizure of online sex trafficking marketplace backpage.com in 2018. The GAO report reviews the online commercial sex market from 2014 through 2020.
DIRECTOR’S FIDUCIARY DUTIES AFTER THE TERMINATION OF THE DIRECTORSHIP
On 24 June, an article from Littleton Chambers was concerned with a case in which the High Court in England was asked to determine whether, and if so to what extent, a director’s fiduciary duties survive the termination of the directorship. It explained that the question arises because of the way in which the Companies Act sets out director’s duties and the interplay between the codified duties in statute and the common law and equitable duties which are the genesis of the statutory obligations. The article says that conduct entirely post-dating termination can form the basis of a claim – so that there need not be a ”clean break” effected by means of a director resigning.
FISHERMEN FIGHT OFF PIRATE ATTACKS IN ECUADOR
On 1 July, Insight Crime reported that fishermen in Ecuador have taken matters into their own hands to combat pirate attacks that have long plagued the nation’s coastal provinces. It is said that Groups of heavily armed pirates working along Ecuador’s western coast have targeting small fishing vessels for years to steal their motors, and these engines are then often used onboard boats transporting drugs.
https://insightcrime.org/news/fishermen-fight-pirate-attacks-ecuador/
UZBEK COVID RESPONSE SHOWN TO BENEFIT POLITICAL INSIDERS
A video from Rferl on 2 July says that by June 2021 the costs of fighting the pandemic had risen to $8 billion, and an investigation examined some of the possible causes for some of the excess spending, including no-bid contracts granted to companies controlled by close allies of the President.
https://www.rferl.org/a/uzbekistan-covid-response-funds-corruption/31336273.html
FRANCE PROBES FASHION RETAILERS XINJIANG LINKS
On 2 July, Reuters reported that French prosecutors have opened an investigation into 4 fashion retailers suspected of concealing “crimes against humanity” in China’s Xinjiang region. France has a Central Office to Fight Crimes against Humanity, Genocide and War Crimes, founded in 2013.
SOUTH AFRICA IS ACCELERATING ITS PUSH TO REGULATE CRYPTO ASSETS AFTER SCAMS
On 1 July, Coindesk reported that a regulatory structure should be in place in 3 to 6 months.
https://www.coindesk.com/south-africa-to-accelerate-crypto-regulation-in-wake-of-scams-report
ALBANIA: HOSTAGE TO THE COCAINE SUPPLY CHAIN
On 1 July, a report from Balkan Insight took an in-depth look at the drugs trade, Albania and involvement of Albanian gangs in that country and elsewhere in Europe.
https://balkaninsight.com/2021/07/01/albanian-crime-story-hostage-to-the-cocaine-supply-chain/
INTERNAL AUDIT’S ROLE IN ESG
On 30 June, a blog post from Internal Auditor (by a visiting professor at Birmingham City University, University of Lincoln, and London South Bank University; and the first president of the Chartered Institute of Internal Auditors in the UK) comments on recent material concerning the role of internal audit in ensuring ESG compliance and combating ESG risks.
HAVANA CLUB PRODUCER ENDS CUBA TRAFFICKING LAWSUIT
On 23 June, Global Investigation review reported that French alcoholic beverage producer Pernod Ricard has defeated a US lawsuit brought against it for allegedly profiting from seized Cuban property by selling Havana Club rum under the Helms-Burton Act.
UKRAINE: NEW WAVE OF RUSSIA SANCTIONS AND EXTENSION OF PRE-EXISTING DESIGNATIONS
On 2 July, the EU Sanctions blog reported that, on 23 June, the Ukraine President signed off a new wave of Russia sanctions, as well as the extension of pre-existing designations.
https://www.europeansanctions.com/2021/07/ukraine-imposes-and-extends-russia-sanctions/
Any modest contributions for my time and ongoing expenses are welcomed! I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y
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