Day: July 9, 2021

On 7 July, the Home Office in the UK published a Circular Circular that sets out the position that HM Government takes regarding the use of SAR in private civil litigation matters.  Its purpose is said to be to provide guidance to help protect reporters, the subjects of SAR and the integrity of the SAR regime wherever possible.  It says that reporters should consider how they can apply points set out in the Circular to contribute towards maintaining the wider effectiveness of the SAR regime.  For the avoidance of doubt, it is said, the Circular does not affect any legal obligations of disclosure including under the Civil Procedure Rules 1998 or under an order of the court.

https://www.gov.uk/government/publications/circular-0042021-money-laundering-and-suspicious-activity-reports/0042021-money-laundering-the-confidentiality-and-sensitivity-of-suspicious-activity-reports-sars-in-the-context-of-disclosure-in-private-civil-li

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On 8 July Sayari published a report which said that in June OFAC designated a group of individuals and companies due to the group’s role in smuggling petrochemicals for Iran’s Revolutionary Guard Corps – Qods Force (IRGC-QF) and using the proceeds to finance Houthi rebels in Yemen.  Using public records, Sayari said that it has found multiple active companies linked to this network in the Middle East, Europe, and Latin America.  These general trading and shipping companies, which remain unsanctioned, pose a risk to individuals or companies that might unknowingly do business with them, as they could be potential conduits for terror financing based on their connections to known terror financiers.  It names Turkish and Panamanian companies, and possible connections to Greece.

https://sayari.com/resources/active-shipping-companies-linked-to-oil-smuggling-and-sanctioned-terror-financiers/

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The Basel Institute on Governance has published a Working Paper based on an empirical investigation of corruption and illicit exchange related to the so-called “Lava Jato” or “Odebrecht” scandal.  It focuses on former Peruvian President Alejandro Toledo and his laundering of bribes obtained from the construction giant Odebrecht.  The case is said to serve as an indicative example for many similar cases in Latin America and beyond.  It also aims to further illuminate the nexus between corruption and money laundering and the role of hidden and offshore financial infrastructures in facilitating the illicit schemes

https://baselgovernance.org/sites/default/files/2021-07/Working%20Paper%2036%20Odebrecht%20Toledo.pdf

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On 6 July, a report from Kharon advised that laboratory equipment and technology appear to be a key supply chain vulnerability for Russian chemical and biological research institutes, with sanctions imposed on them this spring by the US State Department for their involvement in Russian chemical weapons research and development.  The US Commerce Department also placed restrictions on exports to more than a dozen entities, citing their role in proliferation activity for Russian WMD programmes.  The report says that the export restrictions appear to be on suppliers of lab equipment and other items to the sanctioned research institutes.  However, it also said that defence institutes nevertheless continue to seek foreign lab equipment – and that the State Research and Test Institute of Military Medicine (GNIII VM), which was not sanctioned by the US, is requesting chemicals and lab equipment produced by US and European manufacturers.

https://brief.kharon.com/updates/sanctions-against-russian-research-institutes-reveal-supply-chain-dependencies/

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On 9 July, Metro in the US reported that the claims are for alleged breaches and negligence linked to a corruption scandal at the fund.  KPMG has denied the allegations and pledged to “vigorously” contest the suit filed against 44 current and former partners and linked to its audit of 1MDB’s financial statements between 2010 to 2012.

https://www.metro.us/malaysia-1mdb-seeking-more

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On 6 July, Estlund Law published the third part of a 3-part series.  This part says that INTERPOL recently launched an app that will help identify stolen cultural property and increase the recovery of stolen works and artifacts.  The app will be able to be used by law enforcement agencies as well as the general public.

https://www.rednoticelawjournal.com

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