Month: March 2023

EXPLORING MECHANISMS TO RECOVER THE PROCEEDS OF KLEPTOCRACY

On 7 March, a paper published by RUSI explores alternative asset recovery mechanisms that could help respond to the immediate policy goal surrounding Russian-linked sanctioned assets and contribute to strengthening the broader asset recovery framework in the UK for the longer term.  The paper research looks at examples of three alternative mechanisms across 4 jurisdictions – Australia, Switzerland, Ireland and Italy – weighing their potential and limitations in relation to issues such as a lower standard of proof or reversed burden of proof, as well as reframing around ‘societal danger’, and their legal applicability in UK legislation.

https://ik.imagekit.io/po8th4g4eqj/prod/soc-ace-rp16-how-to-seize-a-illion-mar23.pdf

https://www.buymeacoffee.com/KoIvM842y

UK: 1 NAME ADDED TO CENTRAL AFRICAN REPUBLIC SANCTIONS LIST

On 8 March, HM Treasury issued a Notice advising that Mahamat Salleh Adoum KETTE, a local armed group leader with the Front Populaire pour la Renaissance de la Centrafrique (FPRC), has been added to sanctions lists.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1140969/Notice_Central_African_Republic_080323.pdf

https://www.buymeacoffee.com/KoIvM842y

EU COURT HALTS SANCTIONS AGAINST WAGNER CHIEF’S MOTHER

On 8 March, Barron’s reported that the EU General Court EU court had annulled EU sanctions imposed on Violetta Prigozhina, the mother of Yevgeny Prigozhin, ruling that the EU had not proved she was linked to her son’s actions in Ukraine.

https://www.barrons.com/news/eu-court-halts-sanctions-against-wagner-chief-s-mother-37c78f37

https://www.bloomberg.com/news/articles/2023-03-08/wagner-group-founder-s-mother-wins-challenge-to-eu-sanctions

https://www.buymeacoffee.com/KoIvM842y

EU ADDS 9 INDIVIDUALS AND 3 ENTITIES TO HUMAN RIGHTS SANCTIONS LISTS

EU Regulation 2023/500/EU has added 9 individuals and 3 entities to the sanctions lists under EU Regulation 2020/1998.  The individuals are Russian, Afghan and South Sudanese nationals, plus 1 Myanmar national.  Also designated are the Qarchak Prison in Iran, the Syrian Republican Guard, and Office of the Chief of Military Security Affairs (OCMSA) in Myanmar.

https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32023R0500&from=EN

https://eur-lex.europa.eu/legal-content/EN/AUTO/?uri=uriserv:OJ.LI.2023.069.01.0011.01.ENG&toc=OJ:L:2023:069I:TOC

https://www.europeansanctions.com/2023/03/eu-designates-12-over-violence-against-women-and-girls/

https://www.buymeacoffee.com/KoIvM842y

EGBA RELEASES PAN-EUROPEAN AML GUIDELINES FOR GAMBLING SECTOR

On 7 March, Gambling Insider reported that the trade body, the European Gaming and Betting Association (EGBA), has released its first set of pan-European regulations to assist the online gambling industry in helping Europe fight money laundering.

https://www.gamblinginsider.com/news/20351/egba-releases-pan-european-anti-money-laundering-guidelines

https://www.egba.eu/news-post/egba-publishes-new-pan-european-anti-money-laundering-guidelines-for-online-gambling/

https://www.egba.eu/uploads/2023/03/230306-EGBA-Guidelines-on-AML-for-Online-Gambling-FINAL.pdf

https://www.buymeacoffee.com/KoIvM842y

RIO TINTO TO PAY SEC $15 MILLION OVER FOREIGN BRIBERY CHARGES

On 6 March, the Wall Street Journal reported that the mining and metals company Rio Tinto PLC had agreed to pay a $15 million civil penalty to settle a years-long probe into allegations it violated the FCPA foreign bribery law, according to the SEC.  It is said that the alleged payments prompted investigations in the UK, UK and Australia, following a disclosure of potential wrongdoing by the company in 2016.  

https://www.wsj.com/articles/rio-tinto-to-pay-sec-15-million-over-foreign-bribery-charges-3fd65a91

https://www.buymeacoffee.com/KoIvM842y

PokerStars OWNER ENTERS $4 MILLION SETTLEMENT WITH SEC OVER RUSSIA PAYMENTS

On 6 March, the Wall Street Journal reported that Flutter Entertainment, owner of PokerStars and other popular gambling brands, will pay $4 million to settle allegations that the handling of payments to Russia-based consultants violated the FCPA foreign bribery law.  The alleged violations were said to be committed by PokerStars’ previous owner, the Stars Group.  Flutter withdrew from Russia after the 2022 invasion of Ukraine, according to the SEC.

https://www.wsj.com/articles/pokerstars-owner-enters-4-million-settlement-with-u-s-over-russia-payments-a7790dd9

https://www.buymeacoffee.com/KoIvM842y