COMPLIANCE ETC: THINGS YOU MAY HAVE MISSED – MARCH 29

A new company has been selected to run (initially for a 3-month probationary period) the troubled landfill site. In the light of recent events, one of the commitments included in this new concession is that the company has a plan for the mitigation and prevention of fires.

A report today says that 92.1% of cigarettes smoked in Panama come from illicit trade. this is according to the results of the latest Illegal Cigarette Market Study conducted in Panama in 2022 by Nielsen. This is said to represent a potential $300 million loss to the Government, more than 15 40-feet containers of illegal cigarettes being consumed in Panama each month. in some regions, the proportion of illicit cigarettes was over 96%. That all said, in my personal experience, the percentage of smokers in Panama apears less than in Britain and the rest of Europe.

http://elsiglo.com.pa/panama/92-cada-100-cigarrillos-consumen-calles-panama-provienen-comercio-ilegal/24222778

While I have not got all the latest Covid-19 statistics to hand, we are told that, in the week ending 19 March, there were no deaths due to Covid, but that the number of new cases and active cases have shown another increase (new cases at 842, up from 702 the week before; and active cases up by around 200). Hopefully, the effect of the Carnivale holiday period will now start to decline.

29 MARCH 2023

https://www.buymeacoffee.com/KoIvM842y

INSIDE NORTH KOREA’S OIL SMUGGLING

On 29 March, the Financial Times published this report, subtitled “Triads, Ghost Ships and Underground Banks”.  It follows the voyage of a tanker to North Korea. Making one of at least 23 trips there, or to its EEZ, since 2019.  This report follows a joint investigation with RUSI, and shows how business leaders in Asia linked to organised crime have helped facilitate the delivery of oil to North Korea; naming the former business partner of one of Asia’s gambling tycoons, and a Macao-based businessman.

https://ig.ft.com/north-korea-oil-smuggling/

https://www.buymeacoffee.com/KoIvM842y

UK: IS YOUR LAW FIRM AT RISK OF PROLIFERATION FINANCING?

On 28 March, the Law Society issued updated guidance, saying that new legislation is bringing into force changes to solicitors’ AML obligations on assessing proliferation financing risk and reporting register discrepancies.

https://www.lawsociety.org.uk/topics/anti-money-laundering/is-your-firm-at-risk-of-proliferation-financing

https://www.buymeacoffee.com/KoIvM842y