Day: May 13, 2022

This report says that, despite progress made, the US AML/CFT regime must adapt to an evolving threat environment, along with structural and technological changes in financial services and markets, for continued success in this critical fight.  It also says that, as detailed in the priorities and supporting actions in this Strategy, the US Treasury will strengthen laws, regulations, processes, technologies, and people so that the US AML/CFT regime remains a model of effectiveness and innovation.

https://home.treasury.gov/system/files/136/2022-National-Strategy-for-Combating-Terrorist-and-Other-Illicit-Financing.pdf

https://mondovisione.com/media-and-resources/news/us-treasury-announces-2022-national-illicit-finance-strategy-strategy-provides/

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On 11 May, the EU advised that the EU Commission has published a consolidated list of travel bans in its EU Sanctions Map Tool. This will allow citizens to see who is subject to a travel ban under our sanctions measures, and therefore are prevented from travelling to the EU.  This Sanctions Tool is available to Member State authorities as well as EU citizens. 

https://ec.europa.eu/neighbourhood-enlargement/news/implementation-sanctions-commission-publishes-consolidated-list-travel-bans-2022-05-11_en

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On 13 May, the NCA published its Annual Report saying that the Director General of the NCA has set 4 operational priorities for the Agency setting out how it will deliver strong operational performance and build for the future –

• Increasing its understanding of, and impact on, the criminals causing the most harm;
• Strengthening its leadership role with partners and the public;
• Building a workforce that meets the future threat; and
• Improving the foundations on which it delivers operations.

https://www.nationalcrimeagency.gov.uk/who-we-are/publications/594-nca-annual-plan-2022-23/file

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On 12 May, Bloomberg released a video report saying that the global diamond trade is facing supply shortages and major disruption as US sanctions cause panic across the industry. India’s diamond polishers are caught in the middle as the restrictions threaten the country’s $24 billion industry.

https://www.bloomberg.com/news/videos/2022-05-12/india-s-diamond-dilemma-after-russian-sanctions-video

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On 13 May, The Japan Times reported that the government said that it will ban exports of quantum computers and other advanced technologies to Russia from 20 May as part of additional sanctions over the invasion of Ukraine.  The ban will involve 14 items including quantum computers, machine tools, 3D printers and 8 related technologies. Exports of machine tools with higher performance are already blocked, and Japan prohibits exports to Russia of luxury items in 19 categories, including vehicles and watches, as well as a total of about 300 goods and technologies, such as semiconductors.

https://www.japantimes.co.jp/news/2022/05/13/national/russia-sanctions-computers/

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On 13 May, a Notice from HM Treasury advised that 108 entries have been amended on the consolidated list and remain subject to an asset freeze.  In addition, the entry relating to Mohammad AL-SHAAR had been replaced, and the entry relating to Yousef ISMAIL had been removed from the consolidated list and is no longer subject to an asset freeze.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1075117/Notice_Syria_130522.pdf

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A Notice from HM Treasury on 13 May announced that 12 entries have been added to the consolidated list and are now subject to an asset freeze, 8 entries have been amended, and 2 other entries have been corrected and are still subject to an asset freeze.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1075063/Notice_Russia_130522.pdf

https://www.gov.uk/government/news/uk-sanctions-the-shady-network-funding-putins-lavish-lifestyle

https://www.theguardian.com/world/2022/may/13/new-uk-russia-sanctions-target-putin-financial-network-ex-wife

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