THINGS YOU MAY HAVE MISSED – NOVEMBER 28

In Panama, Covid positive test results are back up to 20%. Meanwhile, in another lesson of letting your guard down, here in the Netherland Antilles we hear of how the small island of Bonaire was wholly Covid-free when the pandemic broke – until the Government decided that civil servants just had to travel between the various islands…cue an outbreak and lockdown.

Meanwhile, the government in Panama has apparently established a task force to tackle the city’s garbage problem,labelling it (as I always thought) a potential health problem…

28 NOVEMBER 2022

THE PROS AND CONS OF PLEADING CIVIL FRAUD

On 23 November, an article from Taylor Wessing in their “Fraud Essentials” series highlights some of the key pros and cons to pleading civil fraud.  It warns that it can be more challenging to succeed with a fraud claim because it is generally more likely that someone has acted negligently (or otherwise failed to comply with a legal obligation) than it is that they have acted fraudulently.

https://www.taylorwessing.com/en/insights-and-events/insights/2022/11/fraud-fundamentals-the-pros-and-cons-of-pleading-civil-fraud

TURKEY: NEW COMMUNIQUE OF THE FINANCIAL CRIMES INVESTIGATION BOARD ON PEP

On 24 November, Hergüner Bilgen Ozeke advised in an article that the FCIB has defined “politically exposed persons” as a high-risk group to which enhanced measures shall be applied for the first time from 17 November.

https://herguner.av.tr/publications/new-communique-on-politically-exposed-individuals/

UK: ICO REVISES GUIDANCE ON DATA TRANSFER RISK ASSESSMENTS

On 25 November, an article from Travers Smith LLP advised that the ICO in the UK had issued revised guidance and a new Transfer Risk Assessment (TRA) tool which can be used to undertake a transfer risk assessment, which is required where there’s a restricted transfer of data outside the UK (not covered by UK “adequacy regulations”) that relies upon an “appropriate safeguards” mechanism in Article 46 of the UK GDPR, such as standard contractual clauses.  The article says that the proportionate, risk-based approach to TRA is welcome and organisations, particularly those with an exclusively UK focus, may now choose to follow the ICO’s approach over that of the European Data Protection Board (EDPB).

https://www.traverssmith.com/knowledge/knowledge-container/ico-revises-guidance-on-transfer-risk-assessments/

GEORGIA: AML/CFT ASSESSMENT FOLLOW-UP REPORT

On 28 November, FATF-style regional body MONEYVAL issued a follow-up report on Georgia.  It says that the countryhas demonstrated good progress and has been upgraded from “partially compliant” to “largely compliant” with the FATF Recommendation 29 on FIU.  However, other developmentswere not sufficient to upgrade the ratings of Recommendations 22, 28 or 35, as moderate deficiencies in relation to the scope of covered designated non-financial businesses and professions and the sanctioning regimes remain.  Georgia is expected to report back to MONEYVAL on further progress to strengthen its implementation of AML/CFT measures a year’s time.

https://www.coe.int/en/web/human-rights-rule-of-law/-/moneyval-report-on-georgia-improvements-in-the-financial-monitoring-service-powers-to-disseminate-information-to-law-enforcement-authorities-but-other

https://rm.coe.int/moneyval-2022-12-fur-ge/1680a92f17

EU HAITI SANCTIONS

EU Regulation 2022/2309/EU of 25 November imposed a sanctions regime to mirror that of the UN, and designates Jimmy Cherizier, described as one of Haiti’s most influential gang leaders and leads an alliance of Haitian gangs known as the ‘G9 Family and Allies’.

https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32022R2309&from=EN

FRENCH NGO ACCUSE A FORMER GOVERNMENT OFFICIAL RESPONSIBLE FOR NEGOTIATING ACCESS TO AFRICAN TUNA FISHERIES OF HAVING BEEN RECRUITED BY THE LARGEST TUNA LOBBY IN FRANCE

On 27 November, OCCRP reported that the NGO believe that the case indicates collusion between the French government and the tuna fishing sector.

https://www.occrp.org/en/daily/17085-french-ngos-suspect-conflict-of-interest-in-tuna-sector 

WHY WAS ISRAEL’S MOST WANTED MOBSTER HIDING OUT IN SOUTH AFRICA?

On 25 November, Vice asked this question about Yaniv Ben Simon, 46, said to be Israel’s most wanted.  He may have been living in South Africa for up to 15 years, has been the subject of an Interpol Red Notice – a request to law enforcement worldwide to seize and arrest an individual – for conspiracy to commit murder and attempted murder since 2015.  He is also of 2 attempted mob hits in 2003 and 2004 which wounded 5 people while working for the Abergil Israeli crime organisation.

https://www.vice.com/en/article/88q7x5/yaniv-ben-simon-south-africa

LAFARGE: US PROSECUTION RAISES ALARM BELLS FOR TERRORIST FINANCING COMPLIANCE

On 25 November, an article from Risk Screen carried this warning, saying that the recent prosecution of French cement company Lafarge should be a wake-up call for any organisation with a complacent attitude toward counter terrorist financing. 

https://riskscreen.com/blog/lafarge-us-prosecution-raises-alarm-bells-for-terrorist-financing-compliance/

US EASES VENEZUELA OIL SANCTIONS AFTER GOVERNMENT AND OPPOSITION INK DEAL

On 26 November, Al Jazeera reported that the Biden administration had eased some oil sanctions on Venezuela after the government of Nicolas Maduro and the opposition signed a broad ‘social accord’ to create a UN-administered fund to provide humanitarian aid to the Venezuelan people.  The US responded by issuing a 6-month licence to Chevron to resume limited oil extraction operations in Venezuela.

https://www.aljazeera.com/news/2022/11/26/us-eases-venezuela-oil-sanctions-after-govt-opposition-ink-deal

AIRBUS SAYS REACHED SETTLEMENT WITH FRENCH PROSECUTOR ON LIBYA, KAZAKHSTAN BRIBERY PROBE

On 24 November, Yahoo Finance reported that, subject to court approval, Airbus said it has reached a settlement with the French financial prosecutor (PNF) concerning judicial investigations related to Libya and Kazakhstan.

https://uk.finance.yahoo.com/news/airbus-says-reached-settlement-french-153953393.html?

TRADE FINANCE COMPLIANCE AS A RESULT OF EU SANCTIONS ON RUSSIA

On 27 November, Insurance Marine News reported that S&P Global Market Intelligence has published a summary of the trade finance compliance implications of the many packages of sanctions imposed by the EU on companies trading with Russian entities and individuals since February. 

https://insurancemarinenews.com/insurance-marine-news/trade-finance-compliance-as-a-result-of-eu-sanctions-on-russia/

ARGENTINA TO REVAMP AML LAW, PROPOSES CREATION OF VASP REGISTRY

On 28 November, Bitcoin.com reported that the changes would prepare the country for the review that FATF is slated to do next year.

https://news.bitcoin.com/argentina-to-revamp-anti-money-laundering-law-proposes-creation-of-vasp-registry/

EU COUNCIL UNANIMOUSLY DECIDES TO ADOPT A DECISION TO MAKE VIOLATION OF EU SANCTIONS A CRIMINAL OFFENCE

On 28 November, EU Sanctions blog reported that the EU Commission will now propose a Directive containing minimum rules on the definition of criminal offences and penalties for the violation of EU sanctions. The draft Directive will then be discussed and adopted by the Council and Parliament.

https://www.europeansanctions.com/2022/11/eu-council-unanimously-adopts-decision-to-criminalise-violation-of-eu-sanctions/

SETTLEMENT AGREEMENT BETWEEN OFAC AND PAYWARD INC RE CRYPTO EXCHANGE KRAKEN OVER SANCTIONS VIOLATIONS

On 28 November, OFAC advised of a $362,158.70 settlement re potential civil liability for apparent violations of sanctions against Iran.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20221128 

ABB NEARS DEAL TO RESOLVE THIRD US BRIBERY CASE AGAINST COMPANY

On 25 November, the Wall Street Journal reported that Swiss-based ABB is nearing a deal to pay around $325 million to resolve bribery allegations in South Africa, an outcome that would make the Swiss industrial company a third-time violator of US anti-bribery laws.  The settlement between ABB and US, German, Swiss and South African authorities would resolve corruption investigations into the company’s work on South Africa’s Kusile power plant.

https://www.wsj.com/articles/abb-nears-deal-to-resolve-third-u-s-bribery-case-against-company-11669407951 

US BLOCKS DOMINICAN REPUBLIC COMPANY’S SUGAR IMPORTS OVER ALLEGED FORCED LABOUR

On 25 November, the Wall Street Journal reported that US Customs has blocked imports of sugar and sugar-based products from a Dominican Republic-based company – Central Romana Corp – because of its alleged use of forced labour, a move that comes amid a broader crackdown.

https://www.wsj.com/articles/u-s-blocks-dominican-republic-companys-sugar-imports-over-alleged-forced-labor-11669235643

 

 

GEORGIA: AML/CFT ASSESSMENT FOLLOW-UP REPORT

On 28 November, FATF-style regional body MONEYVAL issued a follow-up report on Georgia.  It says that the country has demonstrated good progress and has been upgraded from “partially compliant” to “largely compliant” with the FATF Recommendation 29on FIU.  However, other developmentswere not sufficient to upgrade the ratings of Recommendations 22, 28 or 35, as moderate deficiencies in relation to the scope of covered designated non-financial businesses and professions and the sanctioning regimes remain.  Georgia is expected to report back to MONEYVAL on further progress to strengthen its implementation of AML/CFT measures a year’s time.

https://www.coe.int/en/web/human-rights-rule-of-law/-/moneyval-report-on-georgia-improvements-in-the-financial-monitoring-service-powers-to-disseminate-information-to-law-enforcement-authorities-but-other

https://rm.coe.int/moneyval-2022-12-fur-ge/1680a92f17