THINGS YOU MAY HAVE MISSED – OCTOBER 29

Neighbouring Costa Rica has reported some 15,000 suspected cases of dengue – far more than here in Panama – though only 57 were confirmed and 13 classed as serious. The capital San Salvador is the region with the highest number of confirmed and probable cases with a total of 29 cases.

29 OCTOBER 2022

CANADA: ADDITIONAL SANCTIONS AGAINST 35 INDIVIDUALS AND 6 COMPANIES IN RUSSIA’S ENERGY SECTOR

On 29 October, the Kyiv Post reported that Canada had imposed further sanctions on 28 October that target oil and gas giant Lukoil and senior officials at Gazprom and its subsidiaries, as well as Russia’s energy and industry ministers, Deputy Prime Minister Alexander Novak and former prime minister Viktor Zubkov, as well as former National Hockey League player Alexander Frolov and chess grandmaster Anton Demchenko.

https://www.kyivpost.com/world/canada-sanctions-russian-energy-execs-issues-ukraine-bonds.html

SMUGGLING COWS USING OIL TANKERS

On 29 October, Sanatan Prabhat in India reported that when police checked an oil tanker, they found out cows were stuffed inside it.  23 cows were found in the tanker of which 2 had died due to suffocation.  This tanker was travelling to Bengal.  With cows being sacred to Hindus, there are severe restrictions on their movement and slaughter.

https://sanatanprabhat.org/english/66055.html

DUTCH TRUST UBO REGISTER OPERATIONAL 1 NOVEMBER

On 26 October, Greenberg Traurig reported that trustees of trusts and trust-like legal arrangements will be required to disclose details of the trust and UBO information of the trust.

https://www.gtlaw.com/en/insights/2022/10/dutch-trust-ubo-register-operational-starting-1-november-2022

UK NOTICE TO IMPORTERS 2953: RUSSIA IMPORT SANCTIONS

On 29 October, the Department for International Trade issued a new Notice to Importers, amended to reflect the implementation of new import sanctions measure relating to certain gold products, certain ‘revenue generating goods’ and liquefied natural gas (LNG).

https://www.gov.uk/government/publications/notice-to-importers-2953-russia-import-sanctions#full-publication-update-history

UK: COUNCIL SECURES £250,000+ CONFISCATION ORDER AGAINST LANDLORD OVER FAILURE TO COMPLY WITH PLANNING ENFORCEMENT NOTICE

On 27 October, Local Government Lawyer reported that the London Borough of Waltham Forest has this month secured a confiscation order of £251,582 against a landlord found guilty of having failed to comply with a planning enforcement notice dating back to May 2013.  The defendant was also handed a fine of £16,000 reduced to £12,000 in recognition of a guilty plea by the judge.  The defendant had converted a commercial premises in Walthamstow into 2 ground floor flats and an additional detached outbuilding without planning permission.

https://www.localgovernmentlawyer.co.uk/planning/401-planning-news/52021-council-secures-250k-confiscation-order-against-landlord-over-failure-to-comply-with-planning-enforcement-notice

WHITE PAPER ON UK PORT SECURITY THREAT

Security Journal reported that Abloy UK has published a discussion paper which discusses the potential threats to port security, and how access can be controlled more effectively to minimise risks and maintain a secure environment for staff, passengers, and any other authorised users of ports.

https://securityjournaluk.com/abloy-uk-white-paper-on-port-security-threat/

https://www.abloy.com/gb/en/about-abloy/white-papers

HONG KONG: 2 MEN HAVE BEEN ARRESTED IN CONNECTION WITH HONG KONG’S BIGGEST MONEY LAUNDERING CASE INVOLVING MORE THAN 8 TONNES OF GOLD AND PALLADIUM

On 27 October, The Standard reported that, in an operation codenamed Alchemist, Customs officers raided 3 homes, 2 secretariat firms, a precious metal company and a local foreign exchange shop. 

https://www.thestandard.com.hk/section-news/section/4/246768/Two-held-in-$3.5b-laundering-scam

MALTA: CASH-FOR-PASSPORT SCHEME CONTINUES DESPITE EU ACTION

On 26 October, EurActiv reported that Malta’s cash-for-passport scheme is set to bring in €40 million less in 2023 and the government has no plans to drop it, despite EU pressure.

https://www.euractiv.com/section/all/short_news/maltas-cash-for-passport-scheme-is-on-the-rocks-government-ploughs-ahead/

SANCTIONS ARE ABOUT TO SLAM RUSSIA’S STILL-BOOMING OIL EXPORT TRADE

On 25 October, American Shipper said that Russian oil sales continue to boom as of late October, up 2.5% year on year.  However, it says, Russia’s oil gains face a serious threat in the very near future from a lack of available tankers, and the G7 price cap is designed to keep Russia’s export volumes steady while simultaneously squeezing Russia’s profits.

https://www.freightwaves.com/news/sanctions-are-about-to-slam-russias-still-booming-oil-export-trade

THE KABUL BANK SCANDAL AND SYSTEMIC CORRUPTION IN AFGHANISTAN

An article from AML RightSource on 19 October examines what is described as one of the most egregious instances of corruption: the Kabul Bank scandal, in which it is claimed Afghan banker Sherkhan Farnood, and his money laundering empire embezzled nearly $1 billion from the Afghan people.  The analysis of the scandal consists of 3 parts: First, a review of the West’s policy missteps that laid the groundwork for the Afghan kleptocracy; second, a brief look at the Kabul Bank’s collapse, which demonstrates the depth of corruption in Afghanistan; and third, an evaluation of policymakers’ failure to hold bad actors accountable and restore public trust after the damage was done.

https://www.amlrightsource.com/news/built-to-fail-the-kabul-bank-scandal-and-systemic-corruption-in-afghanistan

RESEARCH ON ILLICIT FINANCIAL FLOWS AND NATURAL RESOURCE CORRUPTION – NEW SYNTHESIS FOR PRACTITIONERS

On 27 October, the Basel Institute on Governance advised the publication of an introductory guide in collaboration with the USAID-funded Targeting Natural Resources Corruption (TNRC) consortium partners and external experts, which –

  • outlines the impact of illicit financial flows on conservation goals;
  • explains approaches that can help conservation and natural resource management practitioners to strengthen their programming and related responses; and
  • offers guidance on risks and constraints to such financial approaches.

It stresses 3 main takeaways – understanding the financial aspects of natural resource crimes and corruption; targeting the financial aspects of natural resource crimes; and that “follow the money”approaches vary according to context, but generally require multi-stakeholder and cross-sector collaboration and information-sharing.

https://baselgovernance.org/news/research-illicit-financial-flows-and-natural-resource-corruption-new-synthesis-practitioners

GUERNSEY INTRODUCES A SUMMARY CIVIL FORFEITURE PROCEDURE

On 26 October, Ogier published an article advising that Guernsey has expanded its AML arsenal by introducing a summary civil forfeiture procedure along similar lines to Jersey’s.  The summary procedure will apply where assets in a Bailiwick bank account have been the subject of “no consent” for at least a year.  There is already a civil forfeiture law in Guernsey, under the Forfeiture of Money etc in Civil Proceedings Law 2007.  The Forfeiture of Money etc, in Civil Proceedings (Bailiwick of Guernsey) (Amendment) Ordinance 2022 amends the 2007 Law. 

https://www.ogier.com/publications/guernsey-introduces-a-summary-civil-forfeiture-procedure-what-does-this-mean-for-trustees

RUSSIA SUSPENDS UKRAINE GRAIN DEAL AFTER ATTACK ON SEVASTOPOL NAVAL BASE

On 29 October, the Guardian reported that Russia has said it will pull out of a UN-brokered grain export deal after a dramatic attack by Ukrainian airborne and underwater drones on its Black Sea naval base of Sevastopol. 

https://www.theguardian.com/world/2022/oct/29/russia-suspends-ukraine-grain-deal-after-attack-on-sevastopol-naval-base

https://www.buymeacoffee.com/KoIvM842y