By now, I think you are aware of my experience and expertise in the sanctions realm – and have some sense of my point of view regarding sanctions compliance and its geopolitical ramifications. So, if your firm would like me to come “visit” you via Zoom, Google Meet, WebEx, etc […]
Banks’ transaction monitoring in the area of money laundering needs to be improved The Danish Financial Supervisory Authority, together with international consulting firms, has investigated the transaction monitoring in the country’s seven largest banks. The study showed that banks spend a lot of resources on transaction monitoring, but that changes […]
IV. ARMS, MILITARY EQUIPMENT, AND RELATED ACTIVITYThe 2018 APG Myanmar (Burma) Mutual Evaluation found that arms trafficking and the illegal arms trade were major issues in Burma, indicating the involvement of military-affiliated militias, ethnic armed organizations, transnational organized crime groups, and corrupt officials. This has only worsened with the military […]
III. REAL ESTATE AND CONSTRUCTION PROJECTS BENEFITING THE MILITARYBurma lacks both the necessary government regulation and oversight, and the strong banking and financial sector to adequately monitor for money laundering risks in the real estate, development, and construction sectors. Historically, the military has seized land, forced evictions, and displaced peoples […]
II. GEMS AND PRECIOUS METALSGems and precious metals generate billions of dollars of exports in Burma’s economy and accounted for nearly half of the country’s GDP in 2015, the last year for which credible data is available. However, because of the lack of regulation, transparency, and accountability, the sector is […]
I. STATE-OWNED ENTERPRISES BENEFITING THE MILITARYA 2018 report by the Organization for Economic Co-operation and Development (OECD) found that corruption is disproportionately higher in the oil and gas, mining, postal, energy, and transportation and logistics sectors worldwide due to the heavy involvement of state and military entities as well as […]
SUMMARYOn February 1, 2021, Burma’s military (also known as the Tatmadaw)2 overthrew the country’s democratically elected civilian government, reestablishing full military rule in Burma (Myanmar). The military has unjustly arrested leaders of the democratically elected government, cut off utilities and travel, and committed serious human rights abuses and other abuses […]
Publication of Business Advisory on Heightened Risks Associated with doing Business in Burma Release date01/26/2022Body Today, the U.S. Departments of the Treasury, State, Commerce, Homeland Security, Labor, and the Office of the U.S. Trade Representative have issued a business advisory titled: Risks and Considerations for Businesses and Individuals with Exposure […]
HKMA Alert: Fraudulent HSBC website and phishing email Remember, sanctions are financial pressures…. OFAC shortens leash on GAZ Group FinCEN proposes SAR Sharing Pilot Program HKMA Alert: Fraudulent HSBC website and phishing email UN, SECO, OFSI remove Khalil Ben Ahmed Ben Mohamed Jarraya from counter terror sanctions Sorry about that […]
12 Jan 2022 Website Alert – Fraudulent website related to China CITIC Bank International Limited The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by China CITIC Bank International Limited relating to a fraudulent website, which has been reported to the […]
News 25 January 2022 Financial sanction 2022 Updated sanctions report The State Secretariat for Economic Affairs (SECO) has amended Annex 2 to the Ordinance of 2. October 2000 on measures against persons and organizations with links to Usama bin Laden, the group “Al-Qaïda” or the Taliban (RS 946.203). By order of 24. […]
Mr. Watchlist 