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The IMB aware of the escalating level of this criminal activity, wanted to provide a free service to the seafarer and established the 24 hour IMB Piracy Reporting Centre (PRC) in Kuala Lumpur, Malaysia.
A newsletter about fraud and global asset recovery from the office of International Chamber of Commerce's FraudNet. To read about key asset recovery cases and global compliance with anti-fraud and money-laundering laws, please click in the link above for the Newsletter PDF.
CCS offers a flexible membership arrangement based on the selection of predetermined membership packages. A prospective member can elect to join one or more Bureaux according to their requirements.
Losses due to official misconduct account for a great many maritime trade incidents. Each incident can be complex and wide-ranging in nature. It is therefore unlikely that any one company will have the knowledge and resources to be able to investigate it thoroughly.
Counterfeiting and piracy are a drain on our businesses and on the global economy. It has resulted in the widespread loss of lawful employment and a massive reduction of tax revenues.
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Protocol was ratified by Parliament on June 16, 2011 and became effective in Ukraine on January 1, 2012. Along with ratification of the above Protocol, Parliament introduced significant changes to the Code of Criminal Procedure of Ukraine with respect to international cooperation in criminal matters.
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The Stolen Asset Recovery Initiative of the World Bank and United Nations Office on Drugs and Crime (StAR Initiative ) has published a report on the use of corporate vehicles in cases of corruption, titled The Puppet Masters: How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do About It, by: Emile van der Does de Willebois, J.C. Sharman, Robert Harrison, Ji Won Park, Emily Halter. Several FraudNet members participated in the elaboration of the report by sharing their insight with the authors. The 284-page report may be downloaded here or ordered in paper form here. Visit our Resources and Publications pages for material on the same topics: Corruption, Money Laundering, Companies, Trusts (from FraudNet member for ||Liechtenstein||, ||Siegbert Lampert||, of ||Lampert & Schächle Attorneys At Law Ltd, Vaduz|| and ||Switzerland||, ||Yves Klein||, of ||Monfrini Crettol & Associes, Geneva||).
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The Financial Services Authority (FSA) released a report on Banks’ management of high money laundering risk situations - How banks deal with high-risk customers (including PEPs), correspondent banking relationships and wire transfers (click the link to download the report). According to Tracey McDermott, Acting Director of Enforcement and Financial Crime at the FSA: “The review found that some banks appeared unwilling to turn away, or exit, very profitable business relationships, including with Politically Exposed Persons (PEPs), where there appeared to be an unacceptable risk of handling the proceeds of crime. Among other findings, three quarters of the banks sampled failed to take adequate measures to establish the legitimacy of the source of their customers’ wealth and the source of the funds to be used in the business relationship” (click here for the FSA press release). According to the Global Witness’ press release, ”Many of the failings identified by the FSA are the same as those it found ten years ago after £1 billion stolen from Nigeria by Sani Abacha came through London banks. This reflects terribly on the FSA’s softly-softly approach over the last decade, and makes it very clear why Egypt is now seeking the return of corrupt Mubarak funds from the UK. Neither dictatorship nor corruption can occur without banks willing to help” Visit our Resources and Publications pages for material on the same topics: ||United Kingdom||, Compliance, Corruption, Money Laundering, Abacha Case, Mubarak Case. (from FraudNet member for ||Switzerland|| ||Yves Klein||, of ||Monfrini Crettol & Associes, Geneva||).
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The Federal Act on the Restitution of Assets of Politically Exposed Persons obtained by Unlawful Means (RIAA) has entered into force. The purpose of the RIAA is to facilitate the returning of assets frozen in Switzerland to so-called “failing states” following the failure of the process of international mutual assistance to produce a satisfactory result. Click here for the page of the Swiss Federal Department of Foreign affairs dedicated to potentate funds and containing links to the relevant laws and material (in English). Visit our Resources and Publications pages for material on the same topics: ||Switzerland||, Corruption, Forfeiture. (from FraudNet member for ||Switzerland|| ||Yves Klein||, of ||Monfrini Crettol & Associes, Geneva||)
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