Tropical Storm Julia, following on from Hurricane Ian that cause such damage in the US, is passing by in the southern Caribbean. Hurricanes do not reach Panama, but the side effects of a storm or hurricane passing by can – though we on the southern, Pacific coast are not normally much effected.
8 OCTOBER 2022
‘NO ARMS INDUSTRY’ BUT IRELAND SHOULD EXPLORE MILITARY TRADE OPPORTUNITIES
On 7 October, The Journal reported that the Irish Minister of Defence called for greater involvement by Irish companies in the global military industry.
https://www.thejournal.ie/simon-coveney-military-industry-ireland-5886273-Oct2022/
PANAMA TO CANCEL THE REGISTRATION 38 VESSELS FOR ILLEGAL FISHING
On 8 October, La Prensa reported that the Aquatic Resources Authority (ARAP) reported that it has identified 38 vessels associated with illegal fishing. The country remains under pressure from the EU to combat illegal fishing.
https://www.prensa.com/economia/panama-cancelaria-38-barcos-del-registro-por-pesca-ilegal/
US IMPLEMENTS NEW EXPORT RULES TARGETING CHINESE CHIP INDUSTRY USING THE FOREIGN DIRECT PRODUCT RULE (FDPR)
On 8 October, TVP World and others reported that, on 7 October, the Biden Administration announced measures aimed to cut off China from semiconductor chips made using US equipment, regardless of the country of manufacture. WTVB carried a Reuters report explaining that this involved the FDPR, first introduced in 1959 to control trading of US technologies and would ban any semiconductor manufacturing company that uses US tools – which most do – from selling advanced chips to China.
https://tvpworld.com/63806569/us-implements-sweeping-export-rules-targeting-chinese-chip-industry
US ADDS 31 CHINESE ENTITIES TO EXPORT CONTROL LIST
On 7 October, NASDAQ reported that the US had added 31 Chinese companies, including, memory chip maker YMTC Yangtze Memory Technologies Co, to a list of entities that US officials could not inspect to verify they can be trusted to responsibly handle sensitive technology exports. It also removed 9 entities from the list. US exporters must conduct additional due diligence before sending goods to entities placed on this “unverified list” and may have to apply for more licences.
https://www.nasdaq.com/articles/u.s.-adds-31-chinese-entities-to-export-control-list
$500 MILLION MEGAYACHT NORD RE-EMERGES AT ANCHOR IN HONG KONG AFTER SUCCESSFULLY ESCAPING SANCTIONS
On 8 October, Autoevolution reported that the Nord, believed to belong to Russian billionaire Alexey Mordashov, had returned from Vladivostok, where it fled when sanctions were imposed. Presently in Hong Kong, there are suggestions that is heading, like other such superyachts, for the safe haven of Turkey.
EGYPT FREEZES RUSSIAN MIR BANK CARD PAYMENTS TO AVOID US SANCTIONS
On 8 October, Al Monitor reported that Egypt has shelved plans to apply the Russian MIR payment card system in its resorts and hotels amid worries of possible US sanctions. Egypt is among the top five tourist destinations for Russian tourists. Russians and Ukrainians account for 40% of holidaymakers in Egypt, but their numbers have drastically dropped since the Russian invasion.
https://www.al-monitor.com/originals/2022/10/egypt-freezes-russian-mir-payments-avoid-us-sanctions
CANADA TO IMPOSE NEW SANCTIONS AGAINST THE IRANIAN REGIME
On 7 October, a news release from the Prime Minister’s office advised that Canada will take significant, further action against the Iranian regime and listed the intended measures. Also mentioned were a dedicated bureau at Global Affairs Canada and additional support to the RCMP to investigate and identify assets and gather evidence, which builds on new authorities introduced in Budget 2022.
SPAIN BREAKS UP GANG SMUGGLING ALBANIAN MIGRANTS TO BRITAIN
On 8 October, Al Arabiya reported that Spanish police had said that they have broken up a gang suspected of smuggling Albanian migrants, including minors, into the UK hidden as stowaways in dangerous conditions aboard ferries and merchant ships. Officers arrested 7 suspects, all Albanians from an “important criminal organisation”.
VIETNAM: PROPERTY TYCOON ARRESTED AFTER MULTI-MILLION POUND FRAUD BUST
On 8 October, the Mirror reported that Truong My Lan, the chairman of a Ho Chin Minh property company, was arrested for allegedly illegally issuing bonds to raise tens of millions of pounds from investors during 2018-2019. The arrest of the chairwoman of Vanh Thinh Phat Holdings Group comes as Vietnam broadens it years-long anti-corruption drive.
https://www.mirror.co.uk/news/world-news/vietnamese-property-tycoon-arrested-after-28185694
ACCC CRACKDOWN ON GREENWASHING IN AUSTRALIA WITH A SWEEP OF WEBSITES FOR MISLEADING ENVIRONMENTAL AND SUSTAINABILITY CLAIMS
A briefing from Clifford Chance explained that the Australian Competition and Consumer Commission has launched a review of over 200 company websites to identify misleading or deceptive environmental and sustainability claims as part of a focus on so called “green washing” claims in Australia. It goes on to provide some background to the ACCC review and highlight potential strategies for Australian businesses to mitigate the risks of regulatory scrutiny.
US DoJ ANNOUNCES US–UK CLOUD ACT AGREEMENT
On 7 October, a post on the LexBlog reported that an agreement between the US Government and the UK Government on Access to Electronic Data for the Purpose of Countering Serious Crime (the “CLOUD Act Agreement”) had entered into force. Authorised in the US by the Clarifying Lawful Overseas Use of Data (CLOUD) Act, it is said to be the first of its kind and will allow each country’s investigators to gain access to data held by service providers in the other country, for the purpose of combating serious crime.
https://www.lexblog.com/2022/10/07/u-s-department-of-justice-announces-u-s-uk-cloud-act-agreement/
AUSTRALIA: WEALTH OF DEAD GANGSTER MEJID HAMZY CONFISCATED
A news release from the New South Wales Crime Commission announced that the estate of Mejid Hamzy has agreed to pay the State of NSW $1.4 million to settle proceeds of crime confiscation proceedings brought by the NSW Crime Commission before his death that alleged he had profited from serious and organised crime.
US: TOP MONEY LAUNDERER FOR THE SINALOA CARTEL SENTENCED TO MORE THAN 15 YEARS IN PRISON
On 7 October, a news release from US DoJ advised that Juan Manuel Alvarez-Inzunza, a high-level money launderer for the Sinaloa Cartel, was sentenced to 188 months in prison for his role in a conspiracy to transfer millions of dollars in drug proceeds out of the US. He was arrested by Mexican authorities while traveling in the state of Oaxaca in March 2016, and he was extradited to the US last year.
NEW BROKERS ARE CASHING IN AS THE BIDEN ADMINISTRATION QUIETLY ENCOURAGES PRIVATE WEAPONS SALES TO UKRAINE
On 6 October, the New York Times carried an article saying that new brokers are cashing in as the Biden administration quietly encourages private weapons sales to Ukraine, but that oversight is scant in these shadows. The article gives as an example – after falling out with his partner at a limousine company in the St Louis suburbs, Martin Zlatev, and his new business partner, a local osteopath, recently sought a lucrative new business opportunity: selling $30 million worth of rockets, grenade launchers and ammunition to the Ukrainian military. It warns that weapons sold through private brokers are far more likely to end up on the black market and resurface in the hands of American adversaries, according to government advisers and academics who study the trade.
https://www.nytimes.com/2022/10/06/world/europe/ukraine-private-arms-deals.html
US PORTS AND TERMINALS SUSTAIN INCREASED CYBERSECURITY ATTACKS
On 8 October, Hellenic Shipping News reported that Jones Walker LLP has publicly released the findings of its 2022 Ports and Terminals Cybersecurity Survey, examining cybersecurity preparedness in US-based ports and terminals. This survey is the national law firm’s third on the topic of cybersecurity for infrastructure-related industries. In 2018, the firm’s first survey focused on the greater maritime industry. The second survey, in 2020, focused on the midstream oil and gas sector, another critical infrastructure industry.
https://www.hellenicshippingnews.com/us-ports-and-terminals-sustain-increased-cybersecurity-attacks/
FATF PLANS TO ADD DR CONGO TO MONEY LAUNDERING WATCH LIST
On 8 October, FX Empire reported that the country’s Communications Minister has said that FATF plans to put Democratic Republic of Congo on a list of countries subject to increased monitoring; and will go on the global financial crime watchdog’s so-called “grey list” of deficient countries no later than 21 October for shortcomings in stamping out financial corruption, including money laundering and anti-terrorist financing.
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