Red ALERT - Gold-based Financial and Trade Sanctions Circumvention
09/11/2023
This Red Alert is issued by the National Economic Crime Centre (NECC), a multi-agency unit in the National Crime Agency (NCA), HM Treasury’s Office of Financial Sanctions Implementation (OFSI) and the Foreign, Commonwealth & Development Office (FCDO), working in conjunction with law enforcement and financial sector partners as part of the Joint Money Laundering Intelligence Taskforce (JMLIT).
The JMLIT is managed in the NECC and was established to ensure a more collaborative approach between law enforcement and the banking and wider private sector.
This Alert is devised with the aim of promoting awareness and bringing about preventative action.
It is recommended you use this Alert to complement existing knowledge and support ongoing improvements to your business processes and procedures.
Date: November 2023 Reference: 0731-NECC
Contents
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.