Day: July 1, 2022

On 1 July, FATF issued a news release saying that FATF will prioritise work on strengthening asset recovery; countering illicit finance of cyber-enabled crime; increasing effectiveness of global AML measures; and reinforcing FATF Partnerships with FATF-style regional bodies like MONEYVAL and GAFILAT.  During the Singapore Presidency FATF will continue its core work of identifying and analysing money laundering and terrorist financing methods and trends, developing and refining the FATF Standards, and evaluating and supporting the assessments of countries within the Global Network.

https://www.fatf-gafi.org/media/fatf/documents/Singapore-Presidency-Priorities.pdf

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On 1 July, Sandler Travis Rosenberg reported that a new Presidential directive commits the US to promoting worker-centred trade policies and working to ensure that fishery supply chains are free from forced labour.  It outlines the planned actions, including investigations and information-sharing.

https://www.strtrade.com/trade-news-resources/str-trade-report/trade-report/july/wros-penalties-import-restrictions-among-efforts-to-combat-illegal-fishing

https://www.hstoday.us/featured/national-security-memorandum-outlines-interagency-plan-to-combat-global-threat-of-illegal-fishing/

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On 22 June, the Visual Capitalist website produced this infographic –

https://elements.visualcapitalist.com/importers-of-russian-fossil-fuels/

C4ADS is promoting its Triton database, saying that a lack of transparency in the fishing industry has allowed the ultimate beneficial owners of industrial fishing vessels to hide behind complex corporate ownership structures, hampering traceability efforts and preventing true accountability for fisheries crimes.  Triton analyses the ownership structures of the world’s industrialised fishing fleets, revealing the linkages between fishing vessels at sea and the companies who profit from their activities.

https://triton.fish/

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On 28 June, Malta Today reported that a court has ordered the return of €96 million held by late son of Libyan dictator in Bank of Valletta to the Libyan State.  Gaddafi’s millions were historically managed by the former Labour Party treasurer, Joe Sammut.  The cash funded Muatassim Gaddafi’s playboy lifestyle, with millions held in his various American Express and Visa credit card accounts.  The 3 accounts at Bank of Valletta were held in the name of Capital Resources, a company owned by Gaddafi. 

https://www.maltatoday.com.mt/news/court_and_police/117566/malta_court_says_gaddafi_millions_at_bank_of_valletta_must_be_returned_to_libya#.Yr758hXMKUk

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On 30 June, the UN advised that Pak Chun, a former DPRK Ambassador to Egypt, had been added to sanctions lists

https://www.un.org/press/en/2022/sc14957.doc.htm

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