On July 20, 2021, the European Commission presented a significant set of legislative proposals to strengthen the EU’s anti-money laundering and countering terrorism financing (AML/CFT) rules.  The proposal will establish a new EU authority to combat money laundering.  The proposals aim to improve the detection of suspicious transactions and activities, and to eliminate the loopholes that criminals use to launder illicit proceeds or finance terrorist activities through the financial system. 

On July 19, 2021, District Judge Michael Snow of the Westminster Magistrates’ Court ordered the extradition of Peter Singh Virdee from the United Kingdom to Germany to face tax fraud charges concerning allegations he operated a criminal gang that stole €125.6 million ($148.2 million) in a carbon credits carousel scam.

On July 19, 2021, the U.S., European Union, and NATO accused China for its involvement in the Microsoft Exchange hack that impacted companies, governments, and organizations. The announcement fell short of any sanctions and was mainly intended to set clear guidelines on what is prohibited. [1]

On July 15, 2021, the United States Attorney for the Southern District of New York announced the filing of a civil complaint seeking forfeiture of a 10^th Century Khmer sandstone statue – Skanda on a  Peacock – in order to return it to the Kingdom of Cambodia.[1] In approximately 1997, a former member of the Khmer Rouge led a team of looters who store the statute from the Prasat Krachap temple at Koh Ker in Cambodia. Thereafter, antiquities dealer Douglas Latchford allegedly sold it into the international art market.  The statue is considered to be a masterpiece of artistic achievement and a valuable part of the Cambodian cultural heritage.[2]

On June 25, 2021, an Australian federal court judge ruled that a Chilean woman living in Sydney must face extradition for her alleged involvement in kidnappings during Augusto Pinochet’s dictatorship.[1]

On June 17, 2021, the Organization of Economic Cooperation and Development (OECD) published a new editor of Fighting Tax Crime – The Ten Global Principles (78 pp., ISBN 9789264807143 (EPUB).  Initially published in 2017, the work furnishes the first comprehensive guide to combating tax crimes. It discusses ten essential principles covering the legal, institutional, administrative, and operational aspects necessary for developing an efficient and effective system for identifying, investigating and prosecuting tax crimes, while respecting the rights of accused taxpayers.

A former executive at Goldman Sachs U.K., Asante Benko, settled the U.S. Securities and Exchange Commission’s (SEC) claims that he funneled at least $2.5 million in bribes to government officials in Ghana to secure a power plant contract for a Turkish energy company.[1]  Asante Benko agreed to pay over $329,000 to resolve the regulator’s enforcement action.  The total money yields from $275,000 in ill-gotten profits and $54,000 in interest.[2]  The SEC accused Benko of violating the Foreign Corrupt Practices Act (FCPA) by paying off members of parliament and key government officials through a Ghana-based shell company.[3]  Goldman Sachs was not named in the complaint due to its full cooperation with SEC’s investigation.[4]  This article will further discuss the violations by Asante Benko, highlight important guidelines and provisions of the FCPA, and the practices of Goldman Sachs’ compliance department. 

On July 1, 2021, the U.S. Department of State released the 2021 Trafficking in Persons Report (TIP) that documents the global effort towards combating human trafficking.

In the Report’s opening remarks, Secretary of State Antony Blinken stated that

 “Through this Report, we call on governments to join the United States in improving our collective efforts to address human trafficking comprehensively. Doing so requires us to mitigate harmful practices and policies that cause socioeconomic or political vulnerabilities that traffickers often prey on.”[1]

On July 13, 2021, United States Department of Justice officials unsealed an indictment in the U.S. District Court for the Southern District of New York, charging four Iranian nationals with conspiracies concerning kidnapping, sanctions violations, bank and wire fraud, and money laundering.  The indictment charges a co-conspirator, who is an Iranian national and California resident, with structuring violations.[1]

Recent events in Haiti^[1] and the Central African Republic^[2] have underscored the continued threats that the use of mercenaries poses to international peacekeeping.  Mercenaries have been involved in armed conflicts for over 3,000 years, as kings and despots have utilized them in order to acquire and maintain power and affluence.[3]   International law has strived to regulate such offences and encourage States to prevent the illicit activities, especially violence and assassinations, from occurring within their borders. As defined by Article 47 of Additional Protocol I to the Geneva Conventions, mercenaries are individuals who are recruited locally or abroad in order to participate directly in an armed conflict.  They are motivated through substantial material compensation and are neither nationals of a party to the conflict nor a resident to the territory involved in the conflict.[4]