THINGS YOU MAY HAVE MISSED – MAY 22

Panama Covid-19 update – application of the booster dose (the third dose) of the vaccine in children from 5 to 11 years of age in Panama is to be discussed during the coming week by the Ministry of Health and its vaccine advisors. The discussions will also consider the application of the vaccine booster to those of 12 to 15 years, which has so far only applied to those who are immunosuppressed.

Meanwhile, 924 cases of possible side-effects associated with COVID-19 vaccination had been reported to the National Pharmacovigilance Centre (CNFV) – 866 relating to the Pfizer/Biotech vaccine and 58 to the AstraZeneca vaccine. This was despite over 8 million doses of vaccine being administered. Most of the cases were classified as mild and moderate and related to the vaccine apparently affecting the area where the person was injected or were general disorders, such as headaches. There was only one report of suspected adverse reaction in children, and this was classified as mild.

Today saw 5 new fatalities for the third day in a row, and 2,167 new cases being reported, although there was a substantial decrease in the number of active cases, to 28,014. Nevertheless, testing rates continue high at over 20% positive. there remain 36 people in ICU, with another 193 in other wards and 86 in hospital-hotels.

22 MAY 2022

LITHIUM-ION (LI-ION) BATTERIES BEING CARRIED ON CONTAINERSHIPS AMID RISING MISDECLARATIONS IS A MAJOR CONCERN FOR MARINE INSURERS

On 16 May, Loadstar reported that experts in a recent report a recent report said that misdeclared cargo has been implicated in a number of near-miss incidents recently, with false declarations including labelling them as “computer parts”.

https://theloadstar.com/misdeclared-li-ion-battery-shipments-a-rising-threat-to-shipping/

CHINA’S SECURITY DEAL WITH THE SOLOMON ISLANDS COULD INCLUDE “DUAL-USE” PORTS

On 20 May, Maritime Executive reported that the exact terms of the final, signed security agreement haven’t been made public; and the Solomon Islands Prime Minister has assured regional nations including Australia and the US that there will be no Chinese military base in the Solomons.  A leaked draft agreement promised deep-sea fishing bases, oil and gas development and undersea mining ventures, wharves, submarine optical cables, shipbuilding and repair, as well as solar, wind and tidal clean-energy projects. It is said that, for China, dual-use facilities would probably make much more sense than a traditional naval base, which would be a more expensive and overtly aggressive move. 

https://www.maritime-executive.com/editorials/china-s-security-deal-with-the-solomons-could-include-dual-use-ports

ZURICH INSURANCE TO EXIT RUSSIA AMID MOUNTING SANCTIONS

On 22 May, Arab News reported that Switzerland-based Zurich Insurance Group will sell its Russia business to 11 members of its team as it withdraws from the country.

https://www.arabnews.com/node/2087016/business-economy

RUSSIA PUBLISHES LIST OF 963 AMERICANS PERMANENTLY BANNED FROM ENTRY

On 22 May, Business Standard reported that it was also announced that 26 Canadian nationals are permanently banned from entering Russia in retaliation to Ottawa’s anti-Russian sanctions, including the wife of Canadian Prime Minister Justin Trudeau. The new list of US citizens includes all 39 members of the House of Representatives left off an earlier list.  It also an assortment of former lawmakers and officials, business executive, think tank leaders and others.

https://www.business-standard.com/article/international/russia-publishes-list-of-963-americans-permanently-banned-from-entry-122052200026_1.html

NEW CANADIAN SANCTIONS ON RUSSIA INCLUDES LUXURY GOODS

On 21 May, Jurist reported that the new round of Canadian sanctions will also cover luxury goods such as “alcoholic beverages, tobacco, some textile products and sportswear, footwear, luxury clothing and accessories, jewellery, kitchenware, and art”. 

https://www.jurist.org/news/2022/05/canada-government-imposes-new-sanctions-ban-on-russian-luxury-goods/

UAE: 79 PEOPLE CONVICTED OF FRAUD, MONEY LAUNDERING

On 22 May, a news release from the Emirates News Agency announced that the Abu Dhabi Criminal Court has convicted an organised criminal group consisting of 79 people of different nationalities, who specialised in internet fraud by using fake URL (Uniform Resource Locators) of a Chinese website offering securities brokerage and trading services, and using deception to induce victims to invest in securities, as well as money laundering in order to conceal the source of the proceeds.  The defendants included 72 Chinese nationals, 1 Jordanian, 2 Nigerians, 2 Cameroonians, 1 Ugandan and 1 Kenyan.

http://wam.ae/en/details/1395303049680

SPAIN’S POLICY SHIFT ON WESTERN SAHARA

An analysis article from Eurasia Review on 22 May considers the Spanish attitude on Western Sahara, a former Spanish colony.  Currently, Morocco controls over 80% of the territory and contends that its jurisdiction over the region even predates the Spanish rule.  To date, Spain has remained neutral on the Western Sahara conflict and has pushed for a political resolution which is mutually acceptable to the parties involved.  However, Spain announced a shift in its policy stance on Western Sahara on 18 March, with decision to back Morocco, at the cost of upsetting its energy partner, Algeria.  It notes that Spain was already shifting its dependence from Algeria to LNG imported from other countries.

https://www.eurasiareview.com/22052022-spains-policy-shift-on-western-sahara-analysis/

ATTACK ON YACHT OFF YEMEN HIGHLIGHTS NEED FOR CONTINUED MARITIME SECURITY

On 20 May, Defence Web reported that the incident highlights the continued potential danger from pirates and militants in the region.  It is said that vessels should be avoiding the area due to the extended war risk emanating from the conflict in Yemen.

https://www.defenceweb.co.za/sea/sea-sea/attack-against-yacht-of-yemen-highlights-need-for-continued-maritime-security/

US DoJ ANNOUNCES NEW POLICY FOR CHARGING CASES UNDER THE COMPUTER FRAUD AND ABUSE ACT

A news release from US DoJ on 19 May advised that the policy for the first time directs that good-faith security research should not be charged.  The new policy states explicitly the longstanding practice that “the department’s goals for CFAA enforcement are to promote privacy and cybersecurity by upholding the legal right of individuals, network owners, operators, and other persons to ensure the confidentiality, integrity, and availability of information stored in their information systems”.  However, the new policy acknowledges that claiming to be conducting security research is not a free pass for those acting in bad faith.  The new policy replaces an earlier policy that was issued in 2014, and takes effect immediately.

https://www.justice.gov/opa/pr/department-justice-announces-new-policy-charging-cases-under-computer-fraud-and-abuse-act

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OTHER THINGS YOU MAY HAVE MISSED – MAY 21

Panama Covid-19 update – for the fifth day in a row there were more than 3,000 new cases recorded today, testing results remain high at 22.7%, and our corrigimenta (district) is highlighted as one of the hotspots (though my wife tested negative, when felt a bit off). 3,203 new cases and 5 new fatalities reported today, although active cases show a small decrease for the second day in a row, down to 29,133. There are 36 patients in ICU, 224 in other wards and 86 people in the hospital-hotels.

21 MAY 2022

MARTINELLI BROTHERS SENTENCED TO 36 MONTHS IN PRISON IN US FOR CONSPIRING TO LAUNDER $28 MILLION FROM ODEBRECHT AND NAMED THEIR FATHER, FORMER PRESIDENT RICARDO MARTINELLI AS HAVING GIVEN THE ORDERS

On 20 May, Newsroom Panama reported that Ricardo Alberto and Luis Enrique Martinelli Linares had been sentenced to 36 months in prison and 2 years of supervised release for conspiring to launder $28 million from Odebrecht, but they confessed that their father, a former President of Panama gave the orders.  An application before the same court was for the seizure of nearly $18.9 million, with some of the funds in 2 accounts at Bank Vontobel AG in Switzerland in the name of the companies Diamong Investments Corp. and Waterspoon International Ltd, as well as assets including a beachfront condominium in Miami.

https://www.newsroompanama.com/news/martinelli-sons-get-3-years-jail-but-finger-father

THE CASE OF THE MISSING DIAMONDS: A BEST-PRACTICES PRIMER IN MULTIJURISDICTIONAL ASSET RECOVERY

In the latest (Issue 9) edition of the always-interesting FIRE Magazine, includes an article about the inquiries that were undertaken after the bags of diamonds held in a Swiss bank vault and used as collateral for a credit line were found to hold nothing but worthless diamond dust, and the Mintz Group was brought in by the bank to track down the missing gems.  It provides 4 principles to follow in such an investigation.

THE PRIVILEGE AGAINST SELF-INCRIMINATION IN ENGLISH LAW

Another article in Issue 9 of FIRE Magazine looks at the equivalent of “taking the Fifth” in US law, in English civil and criminal law.

MOBILE SPYWARE

Another article in Issue 9 of FIRE Magazine considers the new reality of advanced phone hacking in the light of the NSO Group revelations.  It concludes that it is prudent for individuals working with sensitive data, and their clients, to take precautions to limit risk of compromise.

“FORTIFICATION” AND GUARANTEES AGAINST DAMAGES WHEN SEEKING FREEZING ORDERS (MAREVA INJUNCTIONS)

Another article in Issue 9 of FIRE Magazine provides a guide to so-called “fortification” when there is a need to provide an undertaking in damages as a pre-condition to obtaining a freezing order, which sometimes causes problems for the applicant in showing that they have sufficient assets within the jurisdiction to give validity to the undertakings being offered. 

TRACING CRYPTOCURRENCY AND THE ENGLISH COURT’S POWER TO COMPEL DISCLOSURE FROM FOREIGN RESPONDENTS

Yet another article says that recent cases illustrate the limits of the English court’s powers to compel disclosure from parties outside the jurisdiction.

https://thoughtleaders4.com/images/uploads/news/TL4_FIRE_Magazine_Issue_9_DIGITAL_VERSION_%282%29.pdf

AML: NEW GUIDANCE ON ADVERSE/NEGATIVE NEWS SCREENING

On 20 May, an article from Hogan Lovells explains that undertaking screening for negative news, also known as adverse news or adverse media, assists financial institutions to understand the risks posed by existing and prospective customers.  It says that on 11 May the Wolfsberg Group published useful FAQ on “negative news screening” or NNS.

https://www.engage.hoganlovells.com/knowledgeservices/viewContent.action?key=Ec8teaJ9VaofEZxbVszYr8xgHJMKLFEppVpbbVX%2B3OXcP3PYxlq7sZUjdbSm5FIetvAtgf1eVU8%3D&nav=FRbANEucS95NMLRN47z%2BeeOgEFCt8EGQ0qFfoEM4UR4%3D&emailtofriendview=true&freeviewlink=true

TAXING AUTHORITIES IDENTIFY PROBLEM BEHAVIOURS IN NFT MARKETS

On 20 May, Miller Nash LLP reported that the Joint Chiefs of Global Tax Enforcement, a group consisting of agencies from Australia, Canada, the Netherlands, the UK, and the US, briefly mentioned the group’s investigation into a globally coordinated NFT fraud scheme worth at least $1 billion; and that this comes less than a month after the grouping released a bulletin warning about risks associated with NFT.

https://www.millernash.com/firm-news/news/today-in-tax-taxing-authorities-identify-problem-behaviors-in-nft-markets

FRANCE: BILLIONAIRE BENY STEINMETZ LOSES LANDMARK GUINEA BRIBERY CASE

On 21 May, OCCRP reported that mining magnate Beny Steinmetz has lost a major case against Guinea, after an arbitration court ruled his company – BSG Resources (BSGR) – bribed a former dictator’s wife with tens of millions of dollars to obtain valuable mining rights and then engaged in a cover-up.  It reports that this development follows a January 2021 bribery conviction in Switzerland over the same events, for which he was sentenced to 5 years in prison. His appeal in the case is due to be heard in late August.

https://www.occrp.org/en/daily/16354-france-billionaire-beny-steinmetz-loses-landmark-guinea-bribery-case

SEYCHELLES: ‘MISSING $50 MILLION CASE’ – CHARGES AGAINST 2 ACCUSED AMENDED AND CHARGES AGAINST 3 DROPPED

On 19 May, All Africa reported that the Anti-Corruption Commission (ACCS) had filed amended charges for money laundering against businessman Mukesh Valabji and former First Lady Sarah Zarqhani Rene, and dropped charges against 3 others in the case of the $50 million that went missing from government accounts.  This follows amendment of the country’s legislation which allow the ACCS to investigate and prosecute offences of money laundering committed prior to the enactment of the law, as the offences are alleged to have taken place from 2002 onwards.

https://allafrica.com/stories/202205190811.html

BELGIUM: COURT REVERSES LIQUIDATION OF GUPTA STEEL OPERATIONS

On 19 May, Euronews reported that GFG Alliance’s steel operations in Belgium will be restarted shortly, after a court overturned a ruling that they should be put into administration. The company is owned by commodities tycoon Sanjeev Gupta, who has been trying to refinance his international network of steel and aluminium and energy businesses following the collapse of supply chain finance firm Greensill Capital last year.

https://www.euronews.com/next/2022/05/19/gfg-alliance-belgium-steel

https://www.visualcapitalist.com/weapons-banned-or-restricted-in-war/

PAKISTAN: FORMER HUMAN RIGHTS MINISTER ARRESTED OVER LAND GRABBING ALLEGATION

On 21 May, the Guardian reported that Pakistan’s former human rights minister, Shireen Mazari, has been arrested over a decades-old land grabbing allegation.

https://www.theguardian.com/world/2022/may/21/pakistan-former-human-rights-minister-arrested-over-land-grabbing-allegation

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

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