Financial Crime Weekly Episode 105
37m | Apr 28, 2024Hello, and welcome to episode 105 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. This week has been yet another busy week for financial crime, which as I’ve still been ill, I still have done without. Sanctions news brings coordinated action against the Iranian drone production, and its suppliers. On bribery, more news on China and Ukraine getting their houses in order. The money laundering news comes with warnings on the role of cash couriers in funding terrorism, and some trouble in the EU over the FATF’s grey list and jurisdictions recently removed from it. There are also stories on the scale of government fraud in the US, and in the UK, the Serious Fraud Office has published its strategy for the next five years. There is also a round-up of this week’s cyber news. Let’s crack on.
As usual, I have linked the main stories flagged in the podcast in the description. These are:
Council of the European Union, Why the EU adopts sanctions.
Delegation of the European Union to Uzbekistan, European Union, EU Consortium and UNDP join efforts to support the anti-corruption effort of the Government of Uzbekistan.
Department for Education, Policy paper – DfE counter-fraud policy: summary.
European Parliament, Adoption of new rules to combat money laundering.
European Parliament, New EU rules to combat money-laundering adopted.
Financial Conduct Authority, Consultation Paper CP24/9***: Financial Crime Guide Updates.
National Cyber Security Centre, Exploitation of vulnerability affecting Palo Alto GlobalProtect Gateway.
National Cyber Security Centre, Pathways: exploring a new way to achieve Cyber Essentials certification.
Office of Financial Sanctions Implementation, Financial Sanctions Notice: Iran.
Office of Financial Sanctions Implementation, Guidance: Legal Services General Licence.
Serious Fraud Office, SFO Strategy 2014 – 2019.
South African Government, Non-profit Sector in South Africa Assessed for Exposure to Terrorist Financing Risk (press release).
South African Government, Terrorist Financing: Risk Assessment for the Non-profit Organisation Sector in South Africa.
The Guardian, Peter Hain calls for inquiry into MoD’s alleged role in Saudi bribes scandal.
Transparency International, Unfinished Business: Despite FATF Money Laundering List exit, UAE has much to prove.
UK government, UK targets Iran’s ability to launch drones through new round of sanctions.
US Department of Justice, Two Florida Steel Traders Sentenced for Money Laundering and Russia-Ukraine Sanctions Violations.
US Department of Justice, Former Comptroller General of Ecuador Convicted for $10M International Bribery and Money Laundering Scheme.
US Department of Justice, Laboratory Owners Charged in $36M COVID-19 Testing Fraud Scheme.
US Department of State, United States Imposes Sanctions on Suppliers Contributing to Ballistic Missile Proliferation.
US Department of State, U.S. Imposes Sanctions on Suppliers to Pakistan’s Ballistic Missile Program.
US Department of the Treasury, Treasury Designates Entities Involved in Raising Funds for Violent Extremists in the West Bank.
US Department of the Treasury, G7 Cyber Expert Group Conducts Cross-Border Coordination Exercise in the Financial Sector.
US Department of the Treasury, G7 Cyber Expert Group Conducts Cross-Border Coordination Exercise in the Financial Sector.
US Department of the Treasury, Treasury Targets Networks Facilitating Illicit Trade and UAV Transfers on Behalf of Iranian Military.
US Government Accountability Office, Fraud Risk Management: 2018-2022 Data Show Federal Government Loses an Estimated $233 Billion to $521 Billion Annually to Fraud, Based on Various Risk Environments.
US Government Accountability Office, Report to Congressional Committees: Fraud Risk Management.
US Office of Foreign Assets Control, Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and SCG Plastics Co., Ltd.
US Office of Foreign Assets Control, Treasury Designates Iranian Cyber Actors Targeting U.S. Companies and Government Agencies.
World Bank, Unveiling the hidden: The crucial role of beneficial ownership registers in promoting transparency and accountability.
