Day: February 4, 2023

My wife and I received out bivalent Covid-19 vaccinations today. A very Panamanian event, with the inevitable queues, but separate and shorter ones for jubilados (retirees) and those with disabilities. All done efficiently and good humouredly. I couldn’t help noticing that the event combined what might be seen as two characteristics of Panama – the good health service it provides for its people, provided in a shopping mall that had to change hands after its owners were implicated in a money laundering scandal…

4 FEBRUARY 2023

https://www.buymeacoffee.com/KoIvM842y

Comply Advantage has published an article which explores various typologies and identifies key red flag indicators firms can use to ensure their fraud and AML programs are operating effectively. 

https://complyadvantage.com/insights/red-flag-indicators-2023/

https://www.buymeacoffee.com/KoIvM842y

On 4 February, HM Treasury published guidance on its implementation of the oil price cap on Russian product, together with relevant General Licences etc.  The latter cover the wind-down of activities, correspondent banking etc.

https://www.gov.uk/government/publications/russian-oil-services-ban

https://www.gov.uk/government/news/uk-and-coalition-partners-announce-price-caps-on-russian-oil-products

https://www.gov.uk/government/collections/ofsi-general-licences

https://www.buymeacoffee.com/KoIvM842y

On 3 February, OFAC issued guidance on how the new price cap mechanism works, which includes an exemption for product from Sakhalin, provided that all oil is destined for Japan, for certain EU states and for emergency services for vessels – General Licences 56a and 57a refer. 

https://home.treasury.gov/system/files/126/price_cap_determination_20230203.pdf

https://home.treasury.gov/system/files/126/price_cap_guidance_combined_20230203.pdf

https://home.treasury.gov/system/files/126/russia_gl56a.pdf

https://home.treasury.gov/system/files/126/russia_gl57a.pdf

https://www.buymeacoffee.com/KoIvM842y