FATF AML/CFT EVALUATION CONSOLIDATED SCHEDULE              

Following the publication of the update report on Mexico, FATF has released an updated consolidated schedule of AML/CFT ratings to date.

https://www.fatf-gafi.org/media/fatf/documents/4th-Round-Ratings.pdf

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OFAC: NEW SYRIA SANCTIONS GENERAL LICENSE AND NEW/AMENDED FAQ

On 12 May, OFAC announced General License 22 authorising activities in certain economic sectors in non-regime held areas of North-east and North-west Syria.  It also issued several new FAQ, and an amended FAQ 884.

https://home.treasury.gov/policy-issues/financial-sanctions/faqs/added/2022-05-12

https://home.treasury.gov/system/files/126/syria_gl22.pdf

https://home.treasury.gov/policy-issues/financial-sanctions/faqs/884

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CORRUPTION IN FREE TRADE AND SPECIAL ECONOMIC ZONES AS AN ENABLER FOR ILLEGAL WILDLIFE TRADE

A report from the WWF and its partners says that FTZ/SEZ can serve as facilitators for illicit trade, by offering an additional layer of opaqueness, complexity, and inadequate controls in which illegal economies can flourish.  The report uses 3 case studies, in Laos, Spain and China.

https://www.worldwildlife.org/pages/tnrc-topic-brief-open-secrets-corruption-in-free-trade-and-special-economic-zones-as-an-enabler-for-illegal-wildlife-trade

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ITALY AND BULGARIA BUST ‘CLONED’ COMPANIES TAX EVASION SCHEME

On 12 May, OCCRP reported that police had identified 26 suspects “who had illegally changed or ‘cloned’ Italian into Bulgarian enterprises, to avoid paying tax”.  Without actually transferring over ownership, the suspects administratively altered the registration of businesses in the tourism, construction, and food distribution sectors from Italian to Bulgarian, this way avoiding taxes in Italy since 2013.

https://www.occrp.org/en/daily/16315-italy-and-bulgaria-bust-cloned-companies-tax-evasion-scheme

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FATF: MEXICO AML/CFT EVALUATION FOLLOW-UP REPORT

On 12 May, FATF published a follow-up report on Mexico’s AML/CFT regimes.  Mexico has been in an enhanced follow-up process since its evaluation in 2018.  FATF has now re-rated the country on the following FATF Recommendations:

37 – Mutual legal assistance, from partially compliant to compliant
38 – Mutual legal assistance: freezing and confiscation, from partially compliant to compliant

Mexico is now compliant on 10 of the FATF 40 Recommendations and largely compliant on 22 of them. It remains partially compliant on 7 Recommendations, and non-compliant on 1 Recommendation.  It will continue to report back to the FATF on its progress.  As is usual with such follow-up reports, effectiveness is not addressed, only technical compliance.

https://www.fatf-gafi.org/media/fatf/documents/reports/fur/Follow-Up-Report-Mexico-2022.pdf

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CYBERCRIME: NEW COUNCIL OF EUROPE RULES FOR COOPERATION AT INTERNATIONAL LEVEL

The Budapest Convention is the foundation for anti-cybercrime legislation in 80% of countries worldwide and has been signed by all EU Member States. A Second Additional Protocol provides tools to improve co-operation and disclosure of electronic evidence, while protecting fundamental rights, including with strong data protection safeguards. Such tools include for instance direct co-operation with service providers in other jurisdictions, co-operation in emergency situations, and joint investigation teams.  22 countries have so far signed the Protocol.  It will enter into force once ratified by 5 of the signatories.

https://www.coe.int/en/web/cybercrime/opening-for-signature-of-the-second-additional-protocol-to-the-cybercrime-convention

https://www.coe.int/en/web/portal/-/enhanced-co-operation-and-disclosure-of-electronic-evidence-22-countries-sign-new-protocol-to-cybercrime-convention

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