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When Will the Russian Sanctions End? Key Factors and Scenarios for the Future
Since Russia’s invasion of Ukraine in 2022, a comprehensive and far-reaching sanctions regime has been imposed by Western governments, aiming to weaken Russia’s economy and political elite. Over two years later, these sanctions remain firmly in place. The upcoming U.S. election will play a pivotal role in determining whether the current sanctions regime continues, is…
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Sanctions and Politically Exposed Persons (PEPs) in 2024
Sanctions have long been a powerful tool in international diplomacy, used to pressure individuals, organizations, and countries involved in illicit activities, human rights abuses, or corruption. In 2024, the enforcement of sanctions has intensified, with a particular focus on Politically Exposed Persons (PEPs) and asset tracing. The global sanctions against Russia, following its invasion of…
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Trends Spotted in 2024: The Evolving Landscape of Asset Tracing and Recovery
As global markets evolve and technology continues to advance, the methods used to hide, trace, and recover assets are also changing. In 2024, several key trends have been reshaping the asset recovery landscape, driving innovation and changing how investigators and legal professionals approach complex cases. In this blog post, we’ll explore some of the most…
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Rudy Kurniawan Is Back: “Dr. Conti”, from Notorious Wine Fraudster to Cult Figure?
Introduction In the annals of wine fraud, few names stir as much intrigue and controversy as Rudy Kurniawan. Once a revered name among wine collectors, Kurniawan’s descent into notoriety as a master wine counterfeiter is as dramatic as it is unprecedented. His story, which inspired the 2016 Netflix documentary “Sour Grapes” by Jerry Rothwell and…
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The Projected EU Sanctions on Russian Diamonds and the Mechanisms of Diamond Traceability
Introduction The impending decision by the European Union to impose sanctions on Russian diamonds from 2024 signifies a pivotal shift in the global diamond industry. These sanctions, part of a broader set of measures against Russia, not only respond to geopolitical tensions but also highlight the increasing importance of ethical sourcing and traceability in the…
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Cyberfraud: What Responsibility Do Banks and Telecommunication Companies Have?
Introduction Cyberfraud is an increasingly frequent and serious problem that affects both customers and financial institutions. It involves a set of illegal techniques used by cybercriminals to obtain personal and banking information from users, access their accounts, carry out unauthorized transactions, or extort them by locking their electronic devices. Some of the most common types…
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Section 1782’s Influence and UNCITRAL’s Progressive Stance on International Asset Recovery
Introduction In the realm of international asset tracing and recovery, the landscape is marked by a paucity of efficient legal mechanisms for cross-border cooperation. This gap is highlighted by the unique characteristics of Section 1782 of the United States Code, a provision that stands out for its direct approach in assisting foreign legal proceedings. This…
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The ‘Spanish Saga’ in the Antin case and beyond: award recognition and asset recovery in EU investment arbitration
This article was first published in the newsletter of the Asset Recovery Committee of the International Bar Association Introduction Recently, on 24 May 2023, the High Court of London issued its long-awaited decision in the Antin case. The High Court dismissed the appeal against the registration (ie, the recognition) of the International Centre for Settlement of Investment Disputes (ICSID)…
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Journalists will be allowed to “stick their noses” into UBO registers. Right or wrong?
The debate around UBO registers drags on. As anticipated, Spain just launched its new UBO register (“UBOR”), adapted to the CJEU’s ruling of November 22, 2022. As is well known, such ruling declared that allowing access to UBORs to the general public in all cases was contrary to the right to privacy and to the…
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How to enforce crypto-related decisions in Spain?
This article was originally published at ICC FraudNet’s 2023 Global Annual Report: “Fraud and Asset Recovery in an Unstable World“, under the title “What about volatility? Enforcement of crypto-related decisions in Spain“. ICC FraudNet’s Global Report is a compilation of 28 original articles authored by 52 contributors beloging to the ICC FraudNet network, from some…
