Roads very quiet today, everyone either left the city or down at the seafront gardens for the carnivale…tomorrow is the day of the big parade. From what the TV and newspapers show, the celebrations are just as good, or better, in the interior, and somewhat less crowded. People here do like a party, or an excuse for one…
On 20 February, the Evening Standard reported that 2 fund managers have been jailed for a total of 11 years after committing a large-scale fraud amounting to more than $10 million which resulted in the loss of money meant for the people of Libya. A third man pleaded guilty to the same charge before the trial and was spared jail. He was given a 15-month prison sentence suspended for 2 years. The defendants had abused their various positions by committing fraud whilst managing the Libya Africa Investment Portfolio (LAP), a sovereign wealth fund established by the Libyan government for its people amounting to around $800 million.
EU Regulation 2023/379/EU announced that 32 persons and 2 entities have been added to the list of natural and legal persons, entities and bodies subject to restrictive measures, in view of continuing human rights abuses.
On 20 February, FATF published a report saying that, overall, Norway has made progress in addressing most of the technical compliance deficiencies identified in its 2014 Mutual Evaluation. The country has been upgraded on 2 FATF Recommendations:
Recommendation 6, originally rated Partially Compliant is upgraded to Largely Compliant.
Recommendation 16, originally rated Partially Compliant is upgraded to Compliant.