Financial Crime Weekly Episode 94

Hello, and welcome to episode 94 of the Financial Crime Weekly Podcast, I’m Chris Kirkbride. It is yet another busy week for financial crime. A range of stories across the whole of financial crime, with sanctions, money laundering, bribery, and cyber-attack news. In sanctions, there is some heavy focus on oil and Iran. In money laundering, a new economic crime agency in the UK focussed on money laundering in the environmental context. On bribery, more allegations of public sector corruption. Lots to get into, so let’s crack on.

As usual, I have linked the main stories flagged in the podcast in the description. These are:

Centre for Research on Energy and Clear Air, Evading the sanctions: UK imports EUR 660 mn of oil products made from Russian crude.

European Affairs Committee, Call for UK and EU to continue support for Ukraine, and sanctions on Russia.

European Affairs Committee, The Ukraine Effect: The impact of Russia’s invasion of Ukraine on the UK-EU relationship (Report).

European Securities and Markets Authority, ESA’s Joint Board of Appeal confirms ESMA’s decision to withdraw the recognition of Dubai Commodities Clearing Corporation.

European Securities and Markets Authority, Requirements when posting investments recommendations on social media.

European Securities and Markets Authority, Warning: For people posting Investment Recommendation on social media.

Financial Conduct Authority, Reducing and preventing financial crime.

Financial Conduct Authority, Market Watch 76.

Financial Crimes Enforcement Network, FinCEN Proposes Rule to Combat Money Laundering and Promote Transparency in Residential Real Estate.

HM Revenue and Customs, High value dealer guidance for money laundering supervision.

HM Revenue and Customs, Number of live Corporate Criminal Offences investigations.

National Crime Agency, SARs Reported Booklet: February 2024.

National Cyber Security Centre, QR Codes - what's the real risk?

Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia.

Office of Financial Sanctions Implementation, Who is subject to financial sanctions in the UK?

Office of Financial Sanctions Implementation, OFSI General Licence INT/2023/2711256.

Office of Financial Sanctions Implementation, OFSI General licence - INT/2022/2009156.

Office of Financial Sanctions Implementation, Russian Oil Services ban (Updated).

Office of Foreign Assets Control, Treasury Sanctions Transnational Procurement Network Supporting Iran’s Ballistic Missile and UAV Programs.

Office of Foreign Assets Control, Treasury Sanctions Actors Responsible for Malicious Cyber Activities on Critical Infrastructure.

Spotlight on Corruption, Regulators failing to hold senior executives to account for economic crime, new analysis reveals.

Spotlight on Corruption, Power Without Responsibility: The state of senior executive accountability for economic crime in the UK today.

UK government, Ensuring crime doesn’t pay: New Economic Crime Unit to tackle money laundering and carry out financial investigations.

UK government, Economic crime survey 2024.

UK judgments, AerCap Ireland Ltd v AIG Europe SA & Ors [2024] EWHC 144 (Comm).

US Department of Justice, Justice Department Announces Terrorism and Sanctions-Evasion Charges and Seizures Linked to Illicit, Billion-Dollar Global Oil Trafficking Network That Finances Iran’s Islamic Revolutionary Guard Corps and Its Malign Activities.

US Department of Justice, United States Unseals Civil Forfeiture Complaint for Seizure of Iranian Oil.

US Department of Justice, U.S. Attorney Announces Terrorism And Sanctions-Evasion Charges Against Leaders Of A Billion-Dollar Oil Laundering Network Orchestrated By Iran’s Islamic Revolutionary Guard Corps.

US Department of Justice, Three Men Charged with Running Hawala Scheme Responsible for Illicitly Moving more than $65 Million Between the United States and the Middle East.

US Department of Justice, 70 Current and Former NYCHA Employees Charged with Bribery and Extortion Offenses.

US Department of the Treasury, Treasury Publishes 2024 National Risk Assessments for Money Laundering, Terrorist Financing, and Proliferation Financing.

World Health Organisation, WHO reports outline responses to cyber-attacks on health care and the rise of disinformation in public health emergencies (press release).

World Health Organisation, Examining the threat of cyber-attacks on health care during the COVID-19 pandemic.