February 28, 2023 – raytodd.blog

COMPLIANCE ETC: THINGS YOU MAY HAVE MISSED – FEBRUARY 28

The latest Covid-19 statistics, to 25 February, shows the stead, but gradual decline, in cases – 444 new cases, then 356, and now 259 in the week to 25 February. Just 1 new fatality, with 370 active cases, 1 in ICU and 31 in other wards – but with test positivity unchanged at 2.5%.

The relatively new US Ambassador has given an interview to local TV, saying about former President Martinelli (and leading candidate in opinion polls to win again in 2024) – who the State Department has sanctioned – that “He was bribed and improperly awarded contracts during the term of his presidency. The United States cares a lot and wants to send clear messages. This is a way to send those messages and keep people who are corrupt out of the US border”. It will be interesting if he was to actually win in 2024…

Meanwhile, La Estrella de Panama carries an article about why the EU decided to keep Panama on its list of non-cooperative jurisdictions for tax purposes.

https://www.laestrella.com.pa/nacional/230228/regimen-fiscal-pernicioso-motivo-ue

https://www.consilium.europa.eu/en/policies/eu-list-of-non-cooperative-jurisdictions/#countries

In the past few weeks I had cause to request a duplicate birth certificate from the UK. The service was efficient and prompt, with it being sent by DHL, but at a significant (but not exorbitant cost). Here in Panama, if you want such a duplicate document, there are ATM-like terminals of the Tribunal Electoral in malls, Metro stations etc. Using your ID card you can request and obtain, there and then, the document you need.

In other news, at about dawn today a dog got into the underground section of the most busy Metro line here in Panama City. All services were suspended on the affected section, with several stations closed (and huge backlogs of passengers). It took until 1 pm for the dog to be found and caught, with the Metro service saying that, ” For the Panama Metro, the life of an animal is as valuable as that of any human being”.

28 FEBRUARY 2023

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https://www.buymeacoffee.com/KoIvM842y

OFAC SANCTIONS MEXICAN ARMS TRAFFICKER SUPPLYING US-SOURCED WEAPONS TO CJNG

On 28 February, OFAC announced that it had sanctioned Jesus Cisneros Hernandez, a Mexican arms trafficker, for having provided, or having attempted to provide, financial, material, or technological support for, or goods or services in support of the Cartel de Jalisco Nueva Generacion (CJNG). CJNG is a violent Mexico-based organisation that traffics a significant proportion of the illicit fentanyl and other deadly drugs that enter the US. The action was taken in coordination with Mexico.

https://home.treasury.gov/news/press-releases/jy1310

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20230228

https://home.treasury.gov/system/files/126/20230228_cjng_chart.pdf

https://www.buymeacoffee.com/KoIvM842y

AFREXIMBANK DEAL IN SUDAN RAISES MONEY LAUNDERING AND BRIBERY RED FLAGS

On 27 February, Global Trade Magazine reported that a $30 million revolving trade finance facility awarded by the African Export-Import Bank (Afreximbank) to South Sudanese company Trinity Energy has drawn scrutiny after its implementation raised a host of red flags for trade-based money laundering (TBML) and bribery. This followed a 3-year investigation into the deal by corruption-tracking organisation The Sentry. The arrangement was intended to address South Sudan’s lack of refining capacity and pump US dollars into the country’s depleted reserves of hard currency. However, a report voices concerns over indications of illegal activity stemming from the way the deal was implemented and calls on Afreximbank, along with the other parties involved, to investigate its dealings with Trinity Energy and the South Sudanese government.