Sanctions, proliferation, money laundering, export and trade control news etc
Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section
The favourite tactic here to gain attention to your protest is to block roads. However, 2 current disputes saw more active action by the police than is normally the case (probably due to the history of dictators and authoritarian governments, and the role that the police force had under those, authorities tend to take a more softly softly approach to things).
29 dump truck drivers were arrested, and their vehicles impounded, after they closed the Cinta Costera, the seafront highway in the city. This came after the protest caused knock-on effects elsewhere that gradually paralysed the city.
Meanwhile, Crowd Control units of the National Police removed vehicles and tanker trucks used by firefighters to block roads in the province of Colón, in a protest over salary increases.
On 2 June, Dechert LLP published this explainer about the Central Bank (Individual Accountability Framework) Act 2023, which was signed into law on 9 March. The Act amends several existing pieces of legislation and is amongst the most significant pieces of legislation impacting the powers of the Central Bank of Ireland in recent years. The key objectives of the Act are to improve the management of risk in regulated financial service providers and outcomes for consumers. It is intended to enhance the accountability of senior individuals in regulated entities. Among its new provisions is a new Senior Executive Accountability Regime (SEAR), as well as new conduct standards for regulated financial service providers (RFSP), and enhanced powers for the Central Bank.
On 2 June, OFAC announced that it is designating the Iran-based technology company known as “Arvan Cloud”, 2 senior employees of Arvan Cloud, and an affiliated company based in the UAE for their roles in facilitating the Iranian regime’s censorship of the Internet in Iran. It also issued General License P: Authorizing the Wind Down of Transactions Involving Navyan Abr Arvan Private Limited Company or Arvancloud Global Technologies LLC.
Despite Covid having not really fully gone away, now we are warned about influenza (the start of the rainy season usually means an upturn in cases), with those at higher risk urged to get vaccinated, with a major drive announced. This followed 2 deaths due to the AH1N1 virus and given the increase in severe flu cases.
The Canal authorities have announced a further draftreduction (the fith, it seems, since March) due to the relative lack of rain. Vessels that make the transit will be offered a draft of 47.5 feet instead of the usual 50 feet maximum.
In connected news, the Cabinet Council has declared a State of Environmental Emergency in the face of prolonged drought. It is said that the lack of rain is the preamble to the arrival of a possible El Niño phenomenon, which would reduce the production of water for human consumption and agriculture throughout the country. The announcement has, so far, not been followed by details of any possible restrictions.
On 1 June, the EU Sanctions blog reported that the Financial Transactions and Reports Analysis Centre of Canada had produced the special report that could assist in identifying and assessing money laundering and terrorist activity financing risks.
On 1 June, OFAC advised that it had designated members and affiliates of Iran’s Islamic Revolutionary Guard Corps (IRGC) and its external operations arm, the IRGC-Qods Force (IRGC-QF), who have participated in a series of terrorist plots including assassination plots targeting former US Government officials, dual US and Iranian nationals, and Iranian dissidents. This action targets 3 Iran- and Türkiye-based individuals and a company affiliated with the IRGC-QF, along with 2 senior officials of the IRGC’s Intelligence Organization (IRGC-IO), who have been involved in plotting external lethal operations against civilians including journalists and activists.
On 1 June, OFAC announced that it had designated 4 companies generating revenue from, and contributing to, the conflict in Sudan. The entities are affiliated with the 2 embattled forces that are fuelling the ongoing conflict in Sudan: 2 companies affiliated with the paramilitary Rapid Support Forces (RSF) and 2 companies affiliated with the Sudanese Armed Forces (SAF).
On 31 May, a release on Mondo Visione advised that the EBA consultation runs to 31 August. The EBA proposes to set common, regulatory expectations of the steps CASP should take to identify and mitigate the risks effectively.
The Summer edition of Middle East Quarterly included this article, saying that, in recent decades, Hezbollah has established itself not only as one of the world’s leading terrorist groups and Lebanon’s effective master, but also as a prominent transnational crime syndicate. In October 2018, then US Attorney General Jeff Sessions designated Hezbollah as one of the world’s leading transnational criminal organisations alongside 4 Latin American drug cartels.
On 1 June, an Out-Law article said that, since February, South Africa has been on the FATF Grey List. One of the 8 areas of deficiencies identified by the FATF is the challenges law enforcement authorities face in timeously accessing accurate and updated beneficial ownership information of natural persons who ultimately own or exercise effective control over companies. Under new legislation law enforcement and “competent authorities” will be able to access BO information; but the information will not be publicly available.