Day: May 24, 2023

Missed yet more “excitement” this morning, as a bank robbery just down the road in which 5 men stole around $12,000. All banks here (as well as many shops, malls etc) have armed security guards. Unfortunately, not only was this bank’s guard overpowered, the robbers also stole his firearm. this is the second bank attack on the same main road in recent months… Such crimes are a bit risky, I’d have thought, as no doubt silent alarms are triggered, and heavily armed police on motorcycles (nicknamed “ninjas”) patrol – so you be easily be confronted by scarey cops with machine guns and pump action shotguns.

In other news, a somewhat lower risk crime, saw 2 former senior officials of the National Charity Lottery linked to an investigation into the alleged robbery of $95,000 from the vault.

As the Presidential primaries get under way, one of the proposals that has resurfaced is the construction of a high-speed Panama-David train service. In 2019, a feasibility study carried out by a Chinese company estimated that the work required an investment of $4.1 billion. While, in theory, a good alternative to the current slow bus service, or long car journeys, a question mark may arise on environmental grounds from the construction process – though the resulting reduction in road traffic could be a bonus.

24 MAY 2023

https://www.buymeacoffee.com/KoIvM842y

On 23 May, the Jersey FSC published this update which provides a summary of actions taken since the 2021 NRA.  It concludes that the risk of Jersey being used as a conduit for terrorist financing remains medium-low.

https://www.jerseyfsc.org/news-and-events/government-of-jersey-publishes-terrorist-financing-national-risk-assessment-update-2023/

https://www.gov.je/Industry/Finance/FinancialCrime/NationalRiskAssesmnents/pages/nationalriskassessmentterroristfinancing.aspx

On 23 May, ICIJ reported that the interagency group will coordinate with other governments to combat trafficking in wood linked to environmental crimes and human rights abuses.  It will identify, investigate and prosecute illegal trafficking in timber linked to environmental and other crimes.  TIMBER (Timber Interdiction Membership Board and Enforcement Resource), brings together several government departments — Justice, Agriculture, Interior and Homeland Security — and the US Council on Transnational Organized Crime’s Strategic Division.

https://www.icij.org/investigations/deforestation-inc/new-justice-department-led-task-force-pledges-global-crackdown-on-illegal-timber-trade

On 24 May, OFAC advised that it had designated 26 individuals and entities connected with the terrorist group al-Shabaab, including 15 financial facilitators and operatives, 4 charcoal smugglers, and 7 of their associated companies.  This action targets key regional leaders, affiliates, and members of the terrorist group in Somalia who are involved in a wide range of activities in support of al-Shabaab, including financial facilitation, business activities, collection of funds on behalf of the terrorist group, proliferation of Improvised Explosive Devices (IED), and illegal charcoal smuggling from Somalia, all of which have exacerbated local conflicts and suffering. 

https://ofac.treasury.gov/recent-actions/20230524

https://home.treasury.gov/news/press-releases/jy1499

On 24 May,  OFSI posted on its blog an article saying that it had has received unprecedented numbers of licence applications to permit prohibited transactions or activities owing to more sweeping and far-reaching sanctions imposed relating to Russia and Belarus.  Many of these applications involve UK persons who are owed money by Russian and Belarusian Designated Persons (DP) under contracts agreed before the designation of those DP and can only receive such payments once they receive an OFSI licence.  OFSI has now issued a General Licence covering such prior obligations, and the post explains the requirements, including reporting requirements.

https://ofsi.blog.gov.uk/2023/05/24/prior-obligations-general-licence/