OTHER THINGS YOU MAY HAVE MISSED – AUGUST 20

There are now reported to be up to 7 cases on monkeypox in Panama, with 2 new cases. Both the latest patients are said to be in hospital isolation because they do not have suitable isolation arrangements at home.

20 AUGUST 2022

PANAMA HOPES TO EXIT FATF GREY LIST IN SEPTEMBER

On 19 August, Newsroom Panama reported the comments of the Vice-Minister of Finance, re a plenary session of FATF scheduled for September, where significant progress and evidence will be presented so that Panama can get out of the list, which it has been on since 2019.  He said that it has already fulfilled 11 of the 15 points of the FATF action plan.

https://www.newsroompanama.com/business/panama-hopes-to-exit-financial-task-force-gray-list-next-month

US ANNOUNCES CRACKDOWN ON FIREARMS, AMMUNITION SMUGGLING TO HAITI AND THE CARIBBEAN

On 19 August, a news release from US Immigration and Customs Enforcement advised on Homeland Security Investigations (HSI) efforts to curb the increased flow of weapons, weapon parts and ammunition to Haiti and the Caribbean. It is said that, over the last 3 months, HSI has seen a substantial increase in the number of weapons, along with a serious increase on the calibre and type of firearms, being illegally trafficked.

https://www.ice.gov/news/releases/hsi-announces-crackdown-firearms-ammunition-smuggling-haiti-caribbean

FLORIDA: 85 PEOPLE ARRESTED AFTER AS AUTHORITIES DISMANTLED AN INTERNATIONAL DRUG TRAFFICKING RING

On 19 August, My Panhandle reported that the investigation began in September 2020 following an investigation into an incident where a man crashed his vehicle into a gas station and killed a person inside.  It was found that the man and some of his family members had helped smuggle large amounts of meth through airports in checked luggage.  The sheriff’s office said 85 suspects were arrested and charged with a total of 355 felonies and 93 misdemeanours.

https://www.mypanhandle.com/news/local-news/85-arrested-in-takedown-of-international-drug-smuggling-ring-12-8m-in-drugs-guns-seized/

CENTRAL BANK OF THE UAE GUIDANCE FOR LICENSED FINANCIAL INSTITUTIONS ON THE RISKS RELATING TO PAYMENTS

On 19 August, an article from White & Case was concerned with this guidance, said to be to assist LFI in understanding their statutory obligations, and which applies to all natural and legal persons licensed and/or supervised by the Central Bank.  It is said that it appears that the Central Bank’s increased enforcement appetite reflects its commitment to increase efforts to assist in combatting money laundering offences in the UAE following the UAEs addition to the FATF grey list.  The article goes on to consider the new guidance in some detail.

https://www.whitecase.com/insight-alert/aml-cft-guidance

FAR-RIGHT ONLINE FINANCING AND HOW TO COUNTER IT

This publication from the Global Center on Cooperative Security examines the online financing and support systems associated with US anti-authority and racially or ethnically motivated (AAREM) violent extremists.  It focuses on the threat as manifest in the US and to a lesser extent the transnational dimensions of AAREM violent extremist financing. Clear linkages between US and transnational violent extremists, especially within white supremacist and neo-Nazi circles, also extend to the world of financing.  It concludes with several policy solutions to better combat the financial support systems of AAREM violent extremists.

https://www.globalcenter.org/wp-content/uploads/2022/07/GCCS_PB_Far-Right-Online-Financing-How-to-Counter-It-2022.pdf

GHANA HAS DEVELOPED A MARITIME POLICY: HERE IS WHAT IT MEANS

On 19 August, Defence Web reported that Ghana has an abundance of marine resources. They include fisheries, hydrocarbon reserves, inland waterways and ports that are located along important international shipping lanes.  In addition, 70% of Ghana’s trade is carried by sea through its ports in Tema and Takoradi – and the Port of Tema is the largest container port in West Africa and Ghana.  Ghana has developed a comprehensive National Integrated Maritime Strategy.  It warns that the policy is destined for failure without adequate political will from the highest echelons of government and without the necessary resources (financial, human resource, equipment and technology) to support strategies and actions plans.  It outlines 6 strategic objectives that focus on safety, security, marine environmental protection, blue economy development, capacity building and cooperation.  It also provides a framework for implementation and sustainability.  This includes calls for the allocation of resources funded from the national budget.

https://www.defenceweb.co.za/sea/sea-sea/ghana-has-developed-a-maritime-policy-here-is-what-it-means/

UK: INSOLVENCY SERVICE HAS ISSUED A CALL FOR EVIDENCE TO DETERMINE WHAT PERSONAL INSOLVENCY SHOULD LOOK LIKE IN THE 21st CENTURY

An article from the Institute of Chartered Accountants in England & Wales on 18 August says that every year more than 100,000 people enter a personal insolvency solution. But the current regime, which has been in place since 1986, has not changed substantially or been reviewed for a long time.  The most recent major change was the addition of Debt Relief Orders, which came in after the 2008 financial crisis. The call for evidence runs to 23 October.

https://www.icaew.com/insights/viewpoints-on-the-news/2022/Aug-2022/Is-the-personal-insolvency-framework-fit-for-purpose

https://www.gov.uk/government/consultations/call-for-evidence-review-of-the-personal-insolvency-framework

UK: WHAT THE REGISTER OF OVERSEAS ENTITIES MEANS FOR ACCOUNTANTS

An article from the Institute of Chartered Accountants in England & Wales on 16 August considers what the Economic Crime (Transparency and Enforcement) Act 2022 and guidance issued by the Department of Business, Energy and Industrial Strategy.  ICAEW is concerned about the responsibilities and expectations placed on professional accountants with regards to verification. 

https://www.icaew.com/insights/viewpoints-on-the-news/2022/Aug-2022/What-the-Register-of-Overseas-Entities-means-for-accountants

UK: POLICE, CRIME, SENTENCING AND COURTS ACT 2022 FACTSHEETS

On 20 August, the Home Office issued a number of updated factsheets, these include –

  • One on the management of terrorist offences – the Act will give the police 3 new powers to manage the risk posed by terrorist offenders and terrorist risk offenders.  It will also make a number of changes to Multi-Agency Public Protection Arrangements (MAPPA) in order to improve the management and supervision of terrorist and terrorist risk offenders.

https://www.gov.uk/government/publications/police-crime-sentencing-and-courts-bill-2021-factsheets/police-crime-sentencing-and-courts-bill-2021-management-of-terrorist-offenders-factsheet

  • Extraction of information from electronic devices – the law is strengthened to ensure that there is a consistent approach to requesting information from phones and other electronic devices, and that in all cases, requests to victims and witnesses (and others) are only made when necessary and proportionate.  There are new statutory powers that ensure that the police can obtain digital evidence whilst providing additional safeguards so that only information that is relevant to the investigation is take – and a new statutory code of practice that will provide practical guidance to authorities on the use of the powers.

https://www.gov.uk/government/publications/police-crime-sentencing-and-courts-bill-2021-factsheets/police-crime-sentencing-and-courts-bill-2021-data-extraction-factsheet

https://www.gov.uk/government/publications/police-crime-sentencing-and-courts-bill-2021-factsheets

MEXICO’S EX-ATTORNEY GENERAL ARRESTED OVER DISAPPEARANCE OF 43 STUDENTS IN 2014

On 20 August, the Guardian reported that Mexico’s former attorney general, Jesús Murillo, has been arrested in relation to the disappearance of 43 students in 2014, the most prominent individual held so far in the notorious case that has haunted the country ever since.  He faces charges of forced disappearance, torture and obstruction of justice in the abduction and disappearance of the student-teachers in the south-western state of Guerrero.  There are 83 more arrest orders for soldiers, police, Guerrero officials and gang members in relation to the case.

https://www.theguardian.com/world/2022/aug/20/mexicos-ex-attorney-general-arrested-over-disappearance-of-43-students-in-2014

GIBRALTAR PREPARES FOR FIRST AUCTION OF A RUSSIAN OLIGARCH’S DETAINED SUPERYACHT

On 20 August, the Guardian reported on the case of the 65-metre superyacht Axioma.  It is be to benefit US investment bank, JP Morgan, which claims the yacht’s billionaire owner, Dmitry Pumpyansky, owes it more than $20 million.  It was arrested after docking in Gibraltar in March.  JP Morgan said the fact the billionaire had been subjected to sanctions meant the terms of a loan had been breached because it legally could not accept loan repayments from Pyrene, and it asked the Gibraltar courts to detain and sell the yacht.

https://www.theguardian.com/world/2022/aug/20/gibraltar-prepares-for-first-auction-of-a-russian-oligarchs-detained-superyacht

VIETNAM APPROVES NATIONAL ACTION PLAN ON AML

On 20 August, the Emirates News Agency reported on the National Plan of Action on prevention and control of money laundering, terrorism financing and financing of the proliferation of WMD for the 2021-2025 period. 

https://vietnamlawmagazine.vn/national-action-plan-on-anti-money-laundering-approved-48900.html

SOUTH AFRICA ACTS TO STAVE OFF ‘GREY LISTING’ BY FATF

On 20 August, IOL reported that the Cabinet has taken urgent steps to ensure South Africa is not “grey listed” with the approval of important amendment Bills aimed at plugging gaps in the country’s AML/CFT laws.

https://www.iol.co.za/business-report/economy/govt-acts-to-stave-off-greylisting-by-anti-money-laundering-watchdog-f064269f-4fa0-4b8f-a2fa-981e28906e03

CANADA: PUBLIC NOTICE OF ADMINISTRATIVE MONETARY PENALTIES

FINTRAC in Canada publishes its list of persons or entities that have been imposed an administrative monetary penalty.  Notices remain on FINTRAC’s public website for 5 years.

https://fintrac-canafe.canada.ca/pen/4-eng

CANADA: CALGARY MAN CONVICTED IN MULTIMILLION DOLLAR PONZI SCHEME SENTENCED TO 10 YEARS

On 19 August, CTV reported that Arnold Breitkreutz was convicted in June of fraud for what the Crown described as a multimillion-dollar scheme in which investors believed they were putting money into safe first mortgages.  His company, Base Financial, instead loaned to an oil-and-gas promoter and used in a risky oil play in Texas that secured against oil-and-gas leases and equipment.

https://calgary.ctvnews.ca/calgary-man-convicted-in-multimillion-dollar-ponzi-scheme-to-be-sentenced-1.6033709

Any modest contributions for my time and ongoing expenses are welcomed!  At Buy me a Coffee one-off contributions start as low as $3, at

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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