Cyprus Estate Agent
United Kingdom Treaty
(2) In every case where the value of wages and effects of the deceased master or seaman, together with any other property of his which comes into the control of the competent department, does not exceed ? 100 sterling where the competent department is an authority of His Majesty (or $ 500.00, where the competent department is an authority of the United States) and the competent department is satisfied that there is any person entitled to succeed to the property of the deceased, otherwise than as a creditor, and that this person is resident in the sending state, the competent department will hand over the wages, effects and property in its custody of the deceased master or seaman to a consular officer. However, the competent department will have the right, before handing over, to meet out of the m ... [Read More]
M) Money Laundering and Financial Crimes
According to the International Business Companies Act of 1984, BVI-registered IBCs cannot engage in business with BVI residents, provide registered offices or agent facilities for BVI-incorporated companies, or own an interest in real property located in BVI, except for office leases. BVI has approximately 90 registered agents that are licensed by the Financial Services Unit (FSU), and are required to complete certification programs. Registered agents must verify the identities of their clients. The process for registering banks, trust companies, and insurers is governed by legislation that requires more detailed documentation such as a business plan and approval of the appropriate supervisor within the Financial Services Inspectorate. ... [Read More]
Money Laundering and Financial Crimes
(1) As DEA also points out, "In some cases, the agent (business) may represent a variety of remittance companies. When this is the case, the agent may suggest dividing the deposit, sending a portion with each of the represented businesses (companies). Thus, detection is increasingly challenging."Federal authorities at the conference also highlighted the recent growth of smaller independent remitters (beyond the more established Western Union and MoneyGram systems), particularly of those providing service to and from Mexico. DEA reported that although these remitters provide important legitimate services to migrant worker populations, the location of these businesses, "do not necessarily parallel the employment centers for these laborers. Rather, it appears that the agent locations are primarily located in states without regulations governing the money services industry." ... [Read More]
International Narcotics Control Strategy Reports
US DEPARTMENT OF STATEBUREAU OF INTERNATIONAL NARCOTICS MATTERSINTERNATIONAL NARCOTICS CONTROL STRAGEGY REPORTAPRIL 1994EUROPE 303 Albania 305 Austria 307 The Baltics 309 Estonia 309 Latvia 310 Lithuania 311 Belgium 313 Bulgaria 315 Cyprus 319 Czech Republic 322 Denmark 325 Finland 327 France 329 Germany 332 Greece 335 Hungary 338 Iceland ... [Read More]
International Narcotics Control Strategy Reports
INTERNATIONAL NARCOTICS CONTROL STRATEGY REPORT, APRIL 1993US DEPARTMENT OF STATEBUREAU OF INTERNATIONAL NARCOTICS MATTERSDEPARTMENT OF STATE PUBLICATION 10047RELEASED APRIL 1993The Report is for sale by the Government Printing Office, Superindendent of Documents. Stock No.: 044-000-02370-9THIS SEGMENT OF THE INCSR REPRESENTS INDIVIDUAL REPORTS FOR THE EUROPEAN NATIONSEUROPE Albania Austria The Baltics Estonia Latvia Lithuania Belarus Belgium Bulgaria Cyprus Czech and Slovak Federal Republics Denmark Finland France Germany Greece Hungary Iceland Ireland Italy Luxembourg Malta Moldova The Netherlands Norway Poland Portugal Romania Russia Sweden Switzerland Turkey Ukraine United Kingdom Yugoslavia Central Asian States Kazakhstan Kyrgyzstan Turkmenistan Tajikistan Uzbekistan Transcaucasia Armenia Azerbaijan Georgia[EDITOR'S NOTE: Charts referenced to in brackets [ ] are available only in hard copy of r ... [Read More]
Europe and Central Asia
AlbaniaI. Summary Drug trafficking is a significant problem in Albania, which is a major transit country for heroin from Afghanistan and Turkey destined for markets throughout Europe. Organized crime groups use Albania as a transit point for drug and other types of smuggling due to the country’s strategic location, weak police and judicial systems, and porous borders. The most common illegal drugs are heroin, marijuana, and to a lesser extent, cocaine. Heroin is typically transported through the "Balkans Route" of Turkey-Bulgaria-Macedonia-Albania, and on to Italy, Greece and the Netherlands. Cocaine is smuggled from South America, via the United States, Italy, Spain, Greece or the Netherlands, and ... [Read More]
M) Money Laundering and Financial Crimes
Romania’s parliament has a new draft law on money laundering. This law revises certain provisions in the former law. First, the new law defines money laundering using the “all crimes” approach, which means that any crime may be a predicate offense rather than the former list of specific crimes. In addition, the new law expands the number and types of entities required to report to the National Office for the Prevention and Control of Money Laundering. Some of these new entities include art dealers, travel agents, privatization agents, postal officials, money transferors, and real estate agents. The new law also provides for both STR and CTR reporting, with the CTR amounts conforming to EU standards. The “Know Your Customer” identification requirements have also been honed so that identification of the client becomes necessary upon both the beginning of a relationship and upon single or multiple transactions meeting or approaching a 10,000 euro standard. This brings Romania into line wi ... [Read More]
Money Laundering and Financial Crimes
The Iranian real estate market is widely used as an alternative remittance system similar to hawala: real estate transactions take place in Iran, but no funds change hands there; rather, payment is made overseas. This is often done because of the difficulty in getting funds out of Iran and the relative weakness of the Iranian rial. However, in at least one case the real estate market was used to launder narcotics-related funds under the cover of legitimate businesses. ... [Read More]
N - Appendix B: Background Information on Designated Foreign Terrorist Organizations
On 20 March 1995, Aum members simultaneously released the chemical nerve agent sarin on several Tokyo subway trains, killing 12 persons and injuring up to 6,000. The group was responsible for other mysterious chemical accidents in Japan in 1994. Its efforts to conduct attacks using biological agents have been unsuccessful. Japanese police arrested Asahara in May 1995, and he remained on trial facing charges in 13 crimes, including 7 counts of murder at the end of 2001. Legal analysts say it will take several more years to conclude the trial. Since 1997 the cult continued to recruit new members, engage in commercial enterprise, and acquire property, although it scaled back these activities significantly in 2001 in response to public outcry. The cult maintains an Internet home page. In July 2001, Russian authorities arrested a group of Russian Aum followers who had planned to set off bombs near the Imperial Palace in Tokyo as part of an operation to free Asahara from jail and then s ... [Read More]
International Narcotics Control Strategy Reports
US DEPARTMENT OF STATEBUREAU OF INTERNATIONAL NARCOTICS MATTERSINTERNATIONAL NARCOTICS CONTROL STRAGEGY REPORTAPRIL 1994FINANCIAL CRIMES AND MONEY LAUNDERING1994 INTERNATIONAL NARCOTICS CONTROL STRATEGY REPORTINTERNATIONAL MONEY LAUNDERINGOVERVIEWIntelligence findings from North and South America, Eastern and Western Europe, South and East Asia, Africa and the Middle East confirm that another significant shift has occurred in money laundering trends and methods, requiring changes in policy and strategy for 1994.The critical aspects are the volume of non-drug related money laundering; increased investment of illegal proceeds in legitimate business, including the financial industry; and the targeting of financial systems in countries/territories (some with little or no domestic involvement in drug trading or other serious proceeds-generating crimes) to launder drug and other proceeds generated by crimes committed in other jurisdictions.In 1988, when the United Nations Convention was ... [Read More]
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