Shipping
29th July 2021
The UK’s courtship of trade with developing countries after Brexit risks exacerbating the country’s exposure to trade-based money laundering (TBML), according to new research. As part of the country’s trade strategy after departing the EU, the UK’s Department for International Trade (DIT) announced plans earlier this month for a Developing… Read More
20th July 2021
The United States is weighing new sanctions on Iran’s oil sales to China as a way to pressure Tehran to commit to a nuclear deal, sources familiar with the matter told The Wall Street Journal (WSJ) on Monday. US negotiators continue to work with European and international partners in Vienna,… Read More
19th July 2021
The Cyprus maritime and business sector is being used by shipowners in the European Union to register and flag tankers involved in Venezuelan oil trades with tacit acceptance from the republic’s shipping ministry, a Lloyd’s List investigation has found. At least 11 elderly tankers involved in Venezuelan trades have moved… Read More
14th July 2021
Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them. Washington has ramped up shipping-related sanctions over the last two years to make it harder… Read More
13th July 2021
When President Biden signed Executive Order (E.O.) 14024 in April, there were likely more than a few eyebrows raised within the compliance community. For one, the order, which authorized the imposition of sanctions on Russian interests for “specified harmful foreign activities”, marked a departure from the previous administration’s response to the alleged… Read More
1st July 2021
By Cecilia Anesi, Margherita Bettoni and Giulio Rubino, OCCRP, 30 June 2021 OCCRP — On an October evening in 2018, as Sebastiano Giorgi and a Romanian associate skipped and swayed at a fancy Stuttgart nightspot, they were blissfully unaware that their every move was being eyed… Read More
30th June 2021
The Financial Action Task Force (FATF) on Tuesday outlined guidance for national supervisors, banks and other firms on how to identify and mitigate their exposure to the funding of weapons of mass destruction. The guidance follows the intergovernmental organization’s formal adoption in October of revisions to its Recommendation… Read More
29th June 2021
The Financial Action Task Force (FATF) on Monday published a report on the money-laundering risks associated with illegal mining, illicit logging, waste trafficking and other environmental crimes. The report, which calls on FATF member-states to step up their efforts to identify environmental crimes and related illicit… Read More
25th June 2021
The European Union imposed wide-ranging economic sanctions on Belarus for the first time on Thursday, targeting its main export industries and access to finance a month after it forced a Ryanair flight to land in Minsk. The measures include banning EU businesses from importing goods or doing business with Belarusian… Read More
24th June 2021
The owner of a transportation company that hauls gold around the country has been charged in a massive money-laundering case extending from Latin America to South Florida that is still shaking up the precious-metals industry four years after the initial indictment was filed in Miami. Jesus Gabriel Rodriguez Jr., CEO… Read More