This paper written by Bellingcat investigators Giancarlo Fiorella, Charlotte Godart and Nick Waters about “digital evidence vulnerabilities and mitigation strategies for open-source researchers” is available (for 1 month) to view free online in the Journal of International Criminal Justice. The paper asserts that researchers working with digital evidence must be aware of its vulnerabilities if they hope to maximise its value for justice and accountability. In this paper, the authors highlight 2 important vulnerabilities: the impermanent nature of digital evidence, and its susceptibility to attack from online disinformation and misinformation campaigns. The paper offers techniques to help counter these vulnerabilities.
Day: October 24, 2021
STUDY INTO CURRENT PRACTICES AND THE FUTURE DIRECTION OF AML TRANSACTION MONITORING IN THE CAPITAL MARKETS SECTOR IN EUROPE
The Association for Financial Markets in Europe has published this report which says that a key challenge that the industry faces is how to best identify money laundering activities, and that this has intensified in recent years following high-profile cases in the capital markets space which has, understandably increased regulatory scrutiny of firms’ AML controls. AFME represents European wholesale firms’ and says that this paper is specifically targeted at its members. It is said to consider how effective the current AML transaction monitoring approaches in the markets sector are and reviews the results that they yield. It identifies how existing systems can be enhanced and the evolving skillset that is needed to support this. It also looks at the use of data, technology, and enhanced analytics to further drive improvements, building stronger more efficient solutions and leveraging opportunities for intelligence-led investigations. Finally, it also reviews the processes around the submission of SAR and explores the advantages to the sector as a whole in establishing greater collaboration between private and public sector bodies. It is also said to consider the benefits of convergence, between market abuse surveillance function and the AML transaction monitoring function. It makes a number of recommendations in what it describes as an initial roadmap to improve monitoring.
https://www.afme.eu/Portals/0/DispatchFeaturedImages/AFME_TransactionMonitoring2021-2.pdf
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GUINEA: AN ILLEGAL $6 BILLION GOLD ‘BONANZA’ THREATENS ENDANGERED CHIMPANZEES
On 19 October, Mongabay reported that Australia’s Predictive Discovery has announced that it had found more than $6 billion in “bonanza”-grade gold deposits in eastern Guinea. However, exploration is taking place inside the boundaries of Haut Niger National Park, in violation of the law establishing the park.
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BVI INQUIRY HEARS CLAIMS OF SYSTEMIC CORRUPTION AND JURY INTIMIDATION
On 24 October, the Guardian carried an article about the UK government commission of inquiry into mis-governance in the British overseas territory. It is said to have revealed a dark underside to the BVI, as well as exposing a deep well of resentment among some of the Caribbean island’s politicians at the controls placed on them by the UK. Allegations range from unaudited spending on a $40 million Covid stimulus fund, the handing out of contracts worth close to £100,000 to politically connected people, a £10 million land development deal, the selective granting of BVI citizenship or “belonger” status, handing out of Crown Property and drug running. The commission of inquiry was set up in January 2021 by the UK Foreign, Commonwealth and Development Office. A former commissioner of police has referred to “a total deficit of trust and confidence as to Royal Virgin Island police force professionalism, integrity and ability to act on information offered, instead of divulging amongst colleagues and friends”.
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