THINGS YOU MAY HAVE MISSED – NOVEMBER 6

It has been reported that, post-pandemic, some 5,720 hotel rooms remain closed up and more than 25 hotels remain closed, although it is also said that the situation is better than it was in 2021.

Meanwhile, Panama’s traffic police announce that some 134,000 vehicles returned to the capital up until 0600 on Sunday, after the end of the 3-day national holiday (another is due on 10 November, and again on the 28 November).

6 NOVEMBER 2022

ABU DHABI SOVEREIGN WEALTH FUND IN A JOINT ACTION SUING GLENCORE FOLLOWING BRIBERY CASE

On 5 November, This is Money reported that an investment giant backed by Sheikh Mansour – the owner of Manchester City – has lined up with a group of powerful funds to sue FTSE100 group Glencore following a damning bribery case. Claimants also the British Airways pension fund, investment giant Abrdn, Wirral Council, and other sovereign wealth funds such as the Kuwait Investment Authority and Norway’s Norges Bank.  The allegations are believed to relate to losses suffered by shareholders in the wake of the bribery and corruption probes. The claimants are expected to argue that news of the investigations resulted in billions of pounds being wiped off Glencore’s value. 

https://www.thisismoney.co.uk/money/markets/article-11393387/Sheikh-Mansours-firm-weighs-Glencore-legal-battle.html

REPORT SAYS THAT COMPANY THAT PAYS WIFE OF BRITISH PM £11.5 MILLION A YEAR IS STILL OPERATING IN RUSSIA

On 5 November, Business Insider reported that Infosys, the company owned by the UK prime minister’s billionaire father-in-law, is still operating in Russia, 8 months after it said it was pulling out.

https://www.theguardian.com/world/2022/nov/04/infosys-still-operating-russia-rishi-sunak-akshata-murty

CANADA HAS DESIGNATED 4 PEOPLE AND 2 ENTITIES ALLEGED TO BE INVOLVED IN GROSS AND SYSTEMATIC HUMAN RIGHTS VIOLATIONS EITHER IN IRAN, INCLUDING AL-MUSTAFA INTERNATIONAL UNIVERSITY

On 6 November, EU Sanctions blog reported that Canada had made the latest designations following the recent unrest in Iran.

https://www.canada.ca/en/global-affairs/news/2022/10/canada-imposes-new-sanctions-against-iranian-regime.html

https://www.europeansanctions.com/2022/11/canada-lists-iranian-lef-al-mustafa-international-university-4-people/

US: SUPREME COURT TO CONSIDER ATTORNEY-CLIENT PRIVILEGE IN “DUAL-PURPOSE COMMUNICATIONS”

On 4 November, an article in the National Law Review says that, during electronic discovery, addressing attorney-client privilege requires particular nuance when considering “dual-purpose communications,” in which both legal advice and business guidance are discussed.  In granting a hearing in a new case, the Supreme Court will consider soon a split among federal judicial circuits regarding the test to use when assessing whether attorney-client privilege applies with regard to such “dual-purpose communications”.  The Supreme Court may provide greater uniformity in how parties and their counsel address privilege issues, which are often particularly significant in cases involving voluminous involving electronic discovery.

https://www.natlawreview.com/article/re-grand-jury-supreme-court-to-consider-attorney-client-privilege-dual-purpose

US EXPORT RESTRICTIONS: WHAT ARE THEY, AND HOW DO THEY WORK?

On 4 November, Investopedia provided a brief introduction to US export controls.

https://www.investopedia.com/u-s-export-restrictions-6753407

SINGAPOREAN WANTED BY US OVER NORTH KOREA IS IN SINGAPORE

On 6 November, Al Arabiya and others reported that a Singaporean businessman wanted by the US for violating sanctions on North Korea is currently in the city-state where he is under investigation, the Singapore police said.  Kwek Kee Seng I accused of numerous fuel deliveries to North Korea and ship-to-ship transfers as well as money laundering through front companies.

https://english.alarabiya.net/News/world/2022/11/06/Singaporean-wanted-by-US-over-North-Korea-is-in-Singapore-Police

WARNING OVER SOUTH AFRICA’S FATF GREY LIST RUSH

On 6 November, Business Tech reported a warning that there are concerns about the limited amount of time allocated for public consultation and that the Anti-Money Laundering and Combating Terrorism Financing Amendment Bill, which attempts to align the country with some of the FATF’s recommendations, may be rushed through, which would create even more loopholes.

https://businesstech.co.za/news/finance/640269/warning-over-south-africas-greylist-rush/

WIRECARD IRELAND EXECUTIVE LINKED BY SONS TO $186 MILLION FRAUD

On 6 November, the Irish Independent reported that the High Court had been told a student employed as a director of an Irish company involved in a €186 million international fraud was a “cut out” for his mother or her husband, who were both executives in the Irish arm of Wirecard, the German payment processor that collapsed in 2020 amid allegations of a €1.9 billion fraud.

https://www.independent.ie/irish-news/wirecard-ireland-executive-linked-by-sons-to-186m-fraud-42122014.html

SPANISH POLICE SEIZE LARGEST-EVER AMOUNT OF MARIJUANA WORTH £56 MILLION

On 5 November, the Guardian reported that Spanish police said they had seized 32 tonnes of packaged marijuana.  Police raided farms and production plants across Spain in an operation called Gardens.  They arrested 9 men and 11 women.  Police said the gang dried the marijuana plants, packaged them and sent them to parts of Spain, Switzerland, the Netherlands, Germany and Belgium.

https://www.theguardian.com/society/2022/nov/05/spanish-police-seize-largest-ever-amount-of-marijuana-worth-56m

CHINA MOVES TO TAKE CONTROL OF PRIVATE TECH FIRMS WITH ‘JOINT VENTURE’ DEALS

On 4 November, RFA reported that the Chinese Communist Party is moving to take greater control of technology and telecoms companies, with a return to the era of “joint ventures” between the state and private sector.  Sources familiar with the private sector in China said further similar deals are expected by year’s end, with major private tech firms assigned a state-owned “partner,” meaning the state will effectively take control of at least some of their assets.

https://www.rfa.org/english/news/china/ventures-11042022140146.html

INSTAGRAM PERSONALITY KNOWN AS “JAY MAZINI” PLEADS GUILTY TO WIRE FRAUD, WIRE FRAUD CONSPIRACY AND MONEY LAUNDERING

A news release from US DoJ on 2 November advised that Jebara Igbara, aka “Jay Mazini”, had pleaded guilty in federal court in Brooklyn to a 3-count information charging him with wire fraud, wire fraud conspiracy and money laundering.  Igbara was perpetrating overlapping fraud schemes, scamming investors out of at least $8 million. 

https://www.justice.gov/usao-edny/pr/instagram-personality-known-jay-mazini-pleads-guilty-wire-fraud-wire-fraud-conspiracy

https://coingeek.com/instagram-influencer-pleads-guilty-to-virtual-currency-fraud-money-laundering-charges/

EU MiCA BILL CONTAINS A CLEAR WARNING FOR CRYPTO INFLUENCERS

On 3 November, the Coin Telegraph reported that the crypto regulation Bill, set to be made law following some additional steps, contains a section that could impact many crypto influencers, and could result in crypto influencers being charged with market manipulation if they fail to disclose potential conflicts of interest.

https://cointelegraph.com/news/mica-bill-contains-a-clear-warning-for-crypto-influencers

DRONE SWARM LAUNCHER TRUCK DISPLAYED AT CHINA’S BIG ARMS EXPO

On 5 November, The Drive reported on a light vehicle-mounted swarm launcher displayed at a recent air show that will seemingly be capable of launching up to 18 drones. The 2022 Zhuhai Air Show is the first-ever event where the system is exhibited.

https://www.thedrive.com/the-war-zone/drone-swarm-launcher-truck-displayed-at-chinas-big-arms-expo

NEW US EXECUTIVE ORDER RE NICARAGUA SANCTIONS

On 6 November, EU Sanctions blog reported that, on 24 October, President Biden signed a new Executive Order: Taking Additional Steps to Address the National Emergency With Respect to the Situation in Nicaragua.  It provides for new sanctions authorities.  As well as OFAC designating the Nicaraguan mining authority, the General Directorate of Mines and Reinaldo Gregorio Lenin Cerna Juarez, and a new General License, the State Department also imposed travel bans on over 500 Nicaraguan people and their family members.

https://www.europeansanctions.com/2022/11/us-adopts-new-nicaragua-sanctions-authority/

RUSSIA’S UN GRAIN DEAL: IMPLICATIONS FOR THE DEAL AND GLOBAL FOOD PRICES

On 4 November, an article from CSIS asks, with the deal to allow shipment of grain from Ukraine up for renewal on 19 November, what do Russia’s decisions to leave and then rejoin the deal bode for the future of the grain deal?  And what does the grain deal mean for Ukrainian agriculture and global food security?

https://www.csis.org/analysis/russias-un-grain-deal-boomerang-implications-deal-and-global-food-prices

EXAMINING US GOVERNMENT APPROACHES TO FOREIGN TECHNOLOGY THREATS

In October, CSIS published an Issue Brief saying that federal policymakers have recently gained the authority to block government agencies and private organisations from using foreign technologies that pose national security risks.  But securing US networks will require them to wield those powers effectively and better coordinate supply chain security efforts across all levels of government.  The authors of the Brief provide an overview of federal- and state-level procurement bans and recommend ways to build stronger defence against foreign technology threats.  For nearly a decade, US national security leaders have warned that information and communications technology and services (ICTS) produced by Huawei, ZTE, and other Chinese companies may serve as conduits for government espionage and other nefarious activities. In response, policymakers have sought to purge untrustworthy technology from US supply chains.  Over the last 5 years, the federal government has enacted a series of measures regulating the purchase of foreign ICTS on the grounds of national security.

https://cset.georgetown.edu/wp-content/uploads/CSET-Banned-in-D.C.-1.pdf

SPAIN MOVES TO SEIZE SUPERYACHT MERIDIAN A

On 4 November, Superyacht News reported that Spanish authorities have now moved to seize the frozen 85 metre superyacht Meridian A.  the vessel had previously been moved from MB92 Barcelona to Marina Vela after the vessel failed to make payments for works.  It is now reported that a complaint laid by MB92 has now led the Spanish court has authorised the seizure.  The ultimate beneficial owner of the vessel is the sanctioned Sergey Chemezov, the CEO of Rostec, the largest tech and defence conglomerate in Russia.

https://www.superyachtnews.com/business/spain-moves-to-seize-meridian-a

AUSTRALIA’S STAR ENTERTAINMENT FACES SECOND CLASS ACTION SUIT OVER COMPLIANCE

On 6 November, Investing.com reported that the casino operator has said it faces a second class action lawsuit over allegations of failure to comply with disclosure requirements regarding AML/CFT rules.

https://www.investing.com/news/stock-market-news/star-entertainment-served-with-class-action-over-antimoney-laundering-compliance-2933843

THE IMPLICATIONS OF THE EU’S DUAL-USE EXPORT CONTROL REGULATION 2021/821 FOR UNIVERSITIES AND ACADEMICS

This working paper from 1 October from the Utrecht School of Law aims to describe a basic framework regarding the EU’s export control Regulation for research organisations.  It explains that dual-use export controls regulate the international transfer of items (including knowledge) which could serve both civilian and military purposes.  Such regulation is applicable to the development and dissemination of research and may limit academic activity when it is seen as posing security risks.  The application of export controls to research may thus give rise to intricate tensions with the protection of academic freedom and the institutional autonomy of universities.  The main objective of the paper is to provide an overview of the relevance of the regulation, as a basis for further research and discussion over academic freedom and export controls in complex geo-political contexts.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID4248860_code1696645.pdf?abstractid=4248860&mirid=1

PRIVATE INVESTIGATORS LINKED TO THE CITY OF LONDON ARE USING AN INDIA-BASED COMPUTER HACKING GANG TO TARGET BRITISH BUSINESSES, GOVERNMENT OFFICIALS AND JOURNALISTS

On 5 November, the Sunday Times carried an article saying that it and the Bureau of Investigative Journalism have been given access to the gang’s database, which reveals the extraordinary scale of the attacks.  It is said to show that the criminals targeted the private email accounts of more than 100 victims on behalf of investigators working for autocratic states, British lawyers and their wealthy clients.

https://www.thetimes.co.uk/article/exposed-the-global-hacking-network-that-targets-vips-nff67j67z

$400,000 FOUND IN HOME OF PERU CUSTOMS CHIEF

On 6 November, La Prensa Panama reported the apparent the discovery of $423,000 at the home of the head of the Customs Import Area of Peru, Lizardo Pérez Coyla.  Other raids and cash seizures were made at a business and another’s home.  This is said to be part of an investigation “against five customs officials of the National Superintendence of Customs and Tax Administration (SUNAT), 8 customs agency dispatchers and 19 (businessmen) importers”, members of an alleged criminal network dedicated to tax fraud.

https://www.prensa.com/mundo/hallaron-400-mil-dolares-en-la-casa-del-jefe-de-aduanas-de-peru/

https://www.buymeacoffee.com/KoIvM842y