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…
20 FEBRUARY 2023
https://www.buymeacoffee.com/KoIvM842y
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.
https://www.cps.gov.uk/cps/news/update-three-city-workers-sentenced-845m-hedge-and-wealth-fund-fraud
https://www.aol.co.uk/money/finance-managers-jailed-defrauding-libyan-162900455.html
On 20 February, a Notice from HM Treasury advised that 8 names have been added to its sanctions lists.
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.
EU Regulation 2023/378/EU added 16 new entries to the lists of those subject to restrictive measures in the light of continuing human rights abuses.
On 20 February, following the release of the latest report on Norway, FATF issued an updated consolidated schedule of all AML/CFT assessment ratings to date.
https://www.fatf-gafi.org/en/publications/Mutualevaluations/Assessment-ratings.html
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:
Norway will remain in regular follow-up.
https://www.fatf-gafi.org/en/publications/Mutualevaluations/FUR-Norway-2023.html
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