Day: April 25, 2024

A Panamanian called Reynaldo Pérez Palacio, who was allegedly the head of a drug trafficking network that sent cocaine to the US and Europe, has been captured in Bogota, in what was said to be a joint operation with Panamanian authorities.

Meanwhile, drama back in my former home, the Isle of Man, with the licence for 2 Asia-facing gambling companies suspended, and a related TCSP involved in virtual currency told to end all its designated business. This amidst a reported criminal investigation, and claims on social media of arrests made by armed police (though, as usual, local media has little detail…). Links to what is available in the newsletter attached below.

25 APRIL 2024

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On 24 April, the FCA consulted on proposed changes in relation to sanctions, proliferation financing and transaction monitoring.  It is proposing to add references to cryptoassets and the Consumer Duty, along with consequential changes throughout the Financial Crime Guide.  The consultation closes on 27 June.

https://www.fca.org.uk/publications/consultation-papers/cp24-9-financial-crime-guide-updates

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On 25 April, a Notice from HM Treasury advised that the individuals and entries linked to the defence sector had been added to sanctions lists.

https://assets.publishing.service.gov.uk/media/662a48a8690acb1c0ba7e60e/Notice_Iran_250424.pdf

https://www.gov.im/news/2024/apr/25/financial-sanctions-iran

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On 25 April, OFAC advised that it was sanctioning over one dozen entities, individuals, and vessels that have played a central role in facilitating and financing the clandestine sale of Iranian unmanned aerial vehicles (UAV) for Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), which itself is involved in supporting Iran’s Islamic Revolutionary Guard Corps (IRGC) and Russia’s war in Ukraine.

https://home.treasury.gov/news/press-releases/jy2295

https://ofac.treasury.gov/recent-actions/20240425

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