THINGS YOU MAY HAVE MISSED – NOVEMBER 27

Greetings from sleepy Aruba…like any other small Dutch town on a Sunday.

27 NOVEMBER 2022

HOW GREEK COMPANIES AND GHOST SHIPS ARE HELPING RUSSIA

An article in Foreign Policy on 23 November says that Greek and other European shipping companies are currently — and legally — helping Russian exporters get their oil to the desired destination.  What’s more, a growing ghost fleet of ships that officially don’t exist and cannot, as a result, be traced or investigated is transporting sanctioned Russian goods around the world, just as it was already transporting banned Iranian, Venezuelan, and North Korean commodities.

https://foreignpolicy.com/2022/11/23/how-greek-companies-and-ghost-ships-are-helping-russia/

NIGERIA LAUNCHES NEW BANKNOTES TO HELP CURB CORRUPTION

On 24 November, Al Jazeera reported that Nigeria has launched newly designed currency notes, a move that the central bank says will help curb inflation and money laundering.  The new denominations of 200 ($0.46), 500 ($1.15) and 1,000 naira ($2.30) are the first time Nigeria’s currency has been redesigned in 19 years and will be in circulation by mid-December.

https://www.aljazeera.com/news/2022/11/24/nigeria-launches-new-banknotes-to-help-curb-corruption

TAX AND OVERVIEW OF THE UK’S SOVEREIGN IMMUNITY REGIME

On 25 November, an article from Travers Smith provided an overview of the UK’s sovereign immunity regime and review of HM Treasury consultation on reforms to restrict the availability of sovereign immunity from direct taxation.

https://www.traverssmith.com/media/wb2iyx4d/sovereign-immunity-consultation-travers-smith-tax.pdf

GANGS OF CYBERCRIMINALS ARE EXPANDING ACROSS AFRICA

On 27 November, the Guardian reported that police and investigators fear organised gangs of fraudsters are expanding across sub-Saharan Africa, exploiting new opportunities as a result of the Covid-19 pandemic and the global economic crisis to make huge sums with little risk of being caught. 

https://www.theguardian.com/technology/2022/nov/27/gangs-of-cybercriminals-are-expanding-across-africa-investigators-say

TAX HAVENS OF THE BRITISH EMPIRE: DEVELOPMENT, POLICY RESPONSES, AND DECOLONIZATION, 1961-1979

This PhD thesis is said to contribute a historical assessment of the British administrative tax haven experience as the phenomenon unfolded in a formative stage during the 1960s and 1970s.  The study’s primary focus is how the British administration allowed tax haven developments to proliferate within British dependencies, a focus that will extend to the responses of sub-institutions of the British state in the context of decolonization. Institutions operating under the authority of HM Treasury and the Foreign and Commonwealth Office headed the negotiation of a formal UK tax haven policy established in 1971.

https://bora.uib.no/bora-xmlui/handle/11250/3033912

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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