The International Enforcement Law Reporter

The International Enforcement Law Reporter is a monthly print and online journal covering news and trends in international enforcement law.

Since September 1985, the International Enforcement Law Reporter has analyzed the premier developments in both the substantive and procedural aspects of international enforcement law. Read by practitioners, academics, and politicians, the IELR is a valuable guide to the difficult and dynamic field of international law.

Nigeria’s Struggle to Recover Stolen Assets from the U.K.

Tuesday, March 23, 2021
Author: 
Marwah Adhoob
Volume: 
37
Issue: 
3
Abstract: 

Ex-Nigerian governor James Ibori and his associates allegedly laundered 160 million in Euros in the years he was in office. They used the stolen money to purchase luxurious cars, a jet plane, and property in the U.K. and Nigeria. The U.K. announced it would return $5.8 million that the ex-Nigerian Governor stole; this comes as part of the deal between the two countries. This is the first time such action was taken under a 2016 Memorandum of Understanding (MoU) that both countries signed to combat the corruption that is plaguing the region.[1] Ibori’s case is just one of many in Nigeria. Laundered and stolen assets exasperate poverty and corruption in any given country. The asset recovery process is long-drawn-out and often leaves the impacted country with less than a fraction of the stolen assets. This is especially true when stolen assets are recovered in the U.K., where it is increasingly difficult to return the assets to the affected country.



[1] Emmanuel Akinwotu, UK to return £4.2m of Nigerian funds stolen by governor who was jailed, The Guardian, March 9. 2021

 

 

U.S.-North Triangle Enhanced Engagement Act Sets the Stage for New U.S. Policy

Tuesday, March 23, 2021
Author: 
Bruce Zagaris
Volume: 
37
Issue: 
3
Abstract: 

In December 2020, the U.S. Congress enacted the United States-Northern Triangle Enhanced Engagement Act (USNTEEA)[1] as part of the Consolidated Appropriations Act for 2021.



[1]    P.L. 116-260, Division FF, Subtitle F.  For the text of the law see https://www.congress.gov/bill/116th-congress/house-bill/2615/text.

 

FATF Starts New Project to Study and Mitigate the Unintended Consequences from Incorrect Implementation of Standards and Announces More Jurisdictions on its Black and Grey Lists

Saturday, March 20, 2021
Author: 
Bruce Zagaris
Volume: 
37
Issue: 
3
Abstract: 

 

On March 17, 2021, the Financial Action Task Force announced the start of a new project “to study and mitigate the unintended consequences resulting from the incorrect implementation of the FATF Standards.”[1]



[1]    FATF, Mitigating the Unintended Consequences of the FATF Standards, Mar. 17, 2021 https://www.fatf-gafi.org/publications/financialinclusionandnpoissues/documents/unintended-consequences-project.html.

 

 

Daughter of Head of Cartel Jalisco Nueva Generación Pleads Guilty to Violating the Kingpin Act

Thursday, March 18, 2021
Author: 
Bruce Zagaris
Volume: 
37
Issue: 
3
Abstract: 

On March 12, 2021, Jessica Johanna Oseguera Gonzalez, 34, a dual U.S.-Mexican citizen, residing in Guadalajara, Mexico, pleaded guilty to willfully engaging in financial transactions with Mexican companies designated as Specially Designated Narcotics Traffickers by the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC).[1]



[1]    U.S. Department of Justice, Daughter of Prolific Mexican Cartel Leader Pleads Guilty to Criminal Violation of the Foreign Narcotics Kingpin Designation Act, Press Rel.21-223, Mar. 12, 2021.

 

58 Countries Sign Declaration Against Arbitrary Detention of Foreign and Dual Nationals

Wednesday, March 17, 2021
Author: 
By Kayla DeAlto* and Bruce Zagaris
Volume: 
37
Issue: 
3
Abstract: 

When traveling abroad, either as a foreign national or a dual citizen, the last thing anyone expects is to be wrongfully detained on arbitrary charges and then used as a political bargaining chip. However, this is an ongoing problem. In response to the increased incidence of allegedly arbitrary detentions of foreign nationals, on February 15, 2021, Canada launched the Declaration Against Arbitrary Detention in State-to-State Relations. [1]

 



*B.A., U. of Arizona; Salzburg Universität, Salzburg, Austria; 2nd year law student, Univ. of Richmond School of Law

[1] Arbitrary Detention in State-to-State Relations, Government of Canada, https://www.international.gc.ca/world-monde/issues_development-enjeux_developpement/human_rights-droits_homme/arbitrary_detention-detention_arbitraire.aspx?lang=eng (last visited Mar. 15, 2021).

 

Swiss Private Bank Rahn+Bodmer Makes Deferred Prosecution Agreement for $22 Million to Settle Tax Crimes

Tuesday, March 16, 2021
Author: 
Bruce Zagaris
Volume: 
37
Issue: 
3
Abstract: 

On March 11, 2021, the United States Department of Justice (DOJ) and the Internal Revenue Service (IRS) announced the settlement of criminal charges with Rahn+Bodmer Co. (R+B), the oldest private bank in Zurich (founded in 1870). R+B agreed to the filing of a criminal information against them with one count of conspiring to assist U.S. account holders evade their U.S. tax obligations, file false federal tax returns, and otherwise defraud the IRS by concealing millions of dollars in offshore bank accounts at R+B.[1]



[1]    U.S. Department of Justice, Zurich’s Oldest Private Bank Admits to Helping U.S. Taxpayers Hide Offshore Accounts from IS, Press Rel., Mar. 11, 2021 https://www.justice.gov/usao-sdny/pr/zurich-s-oldest-private-bank-admits-helping-us-taxpayers-hide-offshore-accounts-irs.

 

FinCen Notice Informs Financial Institutions of Money Laundering from Illicit Art and Antiquities Trade

Tuesday, March 16, 2021
Author: 
Bruce Zagaris and Marwah Adhoob
Volume: 
37
Issue: 
3
Abstract: 

 On March 9, 2021, the Financial Crimes Enforcement Network or FinCEN issued a notice to financial institutions informing them of (i) the new measures to the Anti-Money Laundering Act of 2020 (the AMLA) regarding the antiquities and art trade, (ii) potential criminal activity associated with art and antiquities trade (iii) and updates to the SAR filing.[1]



[1]  Financial Crimes Enforcement Network, FIN-2021-NTC2, FinCEN Informs Financial Institutions of Efforts Related to Trade in Antiquities and Art (2021).

 

 

The Czech Government Extradites Two Ukrainian Nationals to the U.S. on Money Laundering Charges

Saturday, March 13, 2021
Author: 
Bruce Zagaris
Volume: 
37
Issue: 
3
Abstract: 

On March 5, 2021, the Czech Republic extradited two members of an international organized network that furnish cash-out and money laundering services to persons committing cybercrimes.[1]



[1]    U.S. Department of Justice, Two Ukrainian National Extradited to U.S. on Money Laundering Charges, Press Rel. No. 21-209, Mar. 5, 2021.

 

Suriname’s Corruption and Money Laundering Challenges

Friday, March 12, 2021
Author: 
Scott B. MacDonald
Volume: 
37
Issue: 
3
Abstract: 

In early March 2021, the findings of Suriname’s National Risk Assessment (NRA) on Anti-Money Laundering (AML) and Countering the Financing of Terrorism and corruption, as recommended by the Caribbean Financial Action Task Force (CFATF), were released. While money laundering is illegal per a 2002 law that was amended in 2016, the NRA indicates that Suriname has some major challenges ahead and has an insufficient awareness of money laundering. Completing the NRA is a significant step in Suriname’s interaction with the global financial system and in controlling transnational crime: the country needs a cleaner slate in recovering from a profound economic downturn, the COVID-19 pandemic, and the rescheduling of close to $4 billion debt. Adding to the sense of urgency Suriname sits on the edge of becoming a major oil producer.

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