On 7 May, FATF published an updated consolidated schedule of all AML/CFT evaluation ratings to date.
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OFAC HAS REMOVED SBERBANK (SWITZERLAND) AG FROM ITS RUSSIA SANCTIONS LIST
On 8 May, the Global Sanctions blog reported that Sberbank had sold its Switzerland-based subsidiary in September 2022, and it is now renamed TradeXBank.
https://globalsanctions.co.uk/2024/05/ofac-de-lists-sberbank-switzerland-from-russia-sanctions-list/
UNODC LAUNCHES NEW ACTION TO COMBAT HUMAN TRAFFICKING AND MIGRANT SMUGGLING
On 8 May, In Depth News reported that the United Nations Office on Drugs and Crime (UNODC) has decided to launch a global Action against Human Trafficking and Migrant Smuggling. UNODC will highlight the links between trafficking and smuggling and also other forms of organised crime such as cybercrime, money laundering, drug trafficking, firearms trafficking, and corruption. A global network of specialised prosecutors to be established by the end of this year will focus on a “follow-the-money” approach to tighten money laundering safeguards and identify links with corruption, and other forms of organised crime.
https://indepthnews.net/unodc-launches-new-action-to-combat-human-trafficking-and-migrant-smuggling/
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COMPLIANCE ETC: THINGS YOU MAY HAVE MISSED – MAY 7
Firstly, in the district of Balboa today (the old “capital” of the US Canal Zone) saw this new memorial to employees of the Panama Canal who lost their lives in the Covid-19 pandemic. I have not seen or heard of any such memorials elsewhere.
It is reported that First Quantum, owners of the huge copper mine that triggered protests last year, and a move to close it and other such mines in Panama, hope that the new President means it can look forward to talks with Panama’s new government to find a resolution to the dispute.
As a couple of dispute over election results continue (in one case a mayoral seat was won with literally a handful of votes), one independent candidate became the most successful candidate, in terms of the number of votes and proportion of the vote in his district, with nearly 65,000 votes. To achieve this it is said he spent just $10,000…
Finally, on a walk today we wandered past the riot police depot, deliberately, as I wanted to photograph the little men in the depot’s walls…very odd.
7 MAY 2024
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MALTA: FORMER PM JOSEPH MUSCAT AND OTHERS CHARGED WITH MONEY LAUNDERING ETC
On 7 May, the Times of Malta and others reported that Joseph Muscat and ex-minister Konrad Mizzi were to be charged with accepting bribes and corruption; while Chris Fearne and Edward Scicluna to be charged with defrauding the government through deceit. Several others are also facing charges, including Muscat’s former chief of staff, Keith Schrembri.
https://timesofmalta.com/article/joseph-muscat-charged-bribery-criminal-association.1092078
https://lovinmalta.com/news/news-politics/joseph-muscat-six-major-scandals-that-echo-his-name/
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OFAC SANCTIONS SENIOR LEADER OF THE LockBit RANSOMWARE GROUP – UK AND ISLE OF MAN DO SO ALSO
On 7 May, OFAC advised that it had designated Dmitry Yuryevich Khoroshev, a Russian national and a leader of the Russia-based LockBit group, for his role in developing and distributing LockBit ransomware. This designation is the result of a collaborative effort with the DoJ, Federal Bureau of Investigation, the UK NCA and other international partners. The DoJ has also unsealed an indictment and the UK and Australia are also announcing the designation of Khoroshev.
https://www.gov.im/news/2024/may/07/financial-sanctions-cyber/
https://home.treasury.gov/news/press-releases/jy2326
https://ofac.treasury.gov/recent-actions/20240507
https://assets.publishing.service.gov.uk/media/6639e75174933dccbbb6c2a2/Notice_Cyber_070524.pdf
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SLOVENIA: AML/CFT EVALUATION FOLLOW-UP REPORT
On 7 May, MONEYVAL released the sixth enhanced follow-up report on Slovenia, saying that Slovenia has improved its measures for tackling terrorist financing. As a result of legislative amendments to the terrorist financing offence, the country has been re-rated on this recommendation from “partially compliant” to “largely compliant”. Out of the 40 FATF Recommendations, Slovenia currently has 11 Recommendations rated “compliant” and 29 Recommendations rated “largely compliant”. Slovenia is no longer required to report under MONEYVAL’s 5th round of evaluations.
https://rm.coe.int/moneyval-2023-23-slo-5thround-6thenhfur/1680ae98c9
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GEORGIA: AML/CFT EVALUATION FOLLOW-UP REPORT
On 7 May, MONEYVAL published the second follow-up report on Georgia, saying that Georgia had requested a reassessment of 9 FATF Recommendations contained in its comprehensive 2020 Mutual Evaluation Report. Georgia is rated “compliant” on 7 Recommendations, “largely compliant” on 22 Recommendations, “partially compliant” on 10 Recommendations, and “non-compliant” on 1 Recommendation. Georgia will remain in enhanced follow-up and will continue to report back to MONEYVAL on progress to strengthen its implementation of AML/CFT measures. Georgia is expected to report back within 1 year’s time, in December 2024.
https://rm.coe.int/moneyval-2023-25-ge-5thround-2ndenhfur/1680ae8b8b
https://agenda.ge/en/news/2024/39014#gsc.tab=0
https://civil.ge/archives/604273
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COMPLIANCE ETC: THINGS YOU MAY HAVE MISSED – MAY 6
Well, the election is over and, as expected, Mulino won, albeit with a minority result (around 34%), and with a National Assembly with only 13 members from his RM party. In fact, the largest single group is of unattached independents, with 21 members – compared to just 5 following the 2019 election.
Apparently, once voting papers are counted they are destroyed by burning…unfortunately it appears that at one polling station officials managed to get things the wrong way around…
I am only glad I was roped into helping with the vote, as my wife, on site for 6 am, did not return home until 2 am the next morning!
6 MAY 2024
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OFAC DELETES 1 ENTRY FROM SECTORAL SANCTIONS LIST
On 6 May, OFAC advised that the existing entry for SBERBANK (SWITZERLAND) AG has been deleted.
https://ofac.treasury.gov/recent-actions/20240506
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