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All change on the ‘virtual’ YFN
Advice on money laundering checks What is the advice from BIFA on money laundering checks? This was a question from a BIFA Member following a visit from HMRC asking for details of due diligence, searches and account application, etc, for an importer client. So, what should you do before you commence work on behalf of an importer? We cannot provide a ‘tick list’ answer but this ties in with what we have been preaching a lot in the past few years with the watchword “know your customer”. Money laundering is an offence and whilst certain disciplines are regulated in relation to this area, such as financial bodies and lawyers, the prevention of money laundering should be part of due diligence for any firm. It is not just the Money Laundering Regulations that apply but also the Proceeds of Crime Act, the Anti-Terrorism Act and others, so if you accept money that has been obtained as a result of criminal activity you may face action. No one can “turn a blind eye” over these issues and the legislation in this area is detailed and complex. What is needed is a culture of due diligence making sure the party you are dealing with is a genuine entity. See https://bifa.org/ information/good-practice- toolbox-bifa?p=1 for relevant BIFA Good Practice Guides.
Since the ‘Virtual’ Young Forwarder Network was started in May 2020, Kyle Lawrence, the chair of the most established region, London East, has fulfilled the same role for the digital format, which has become very popular. However, every 12 months it is good for someone else to have the opportunity to gain valuable experience from the role. As a result, from August Laura Hobby has taken over and Kyle will continue with the London East region as we endeavour to get live events back on in the fourth quarter of the year. Carl Hobbis, executive director, commented: “Kyle has done a fabulous job organising things behind the scenes. He has also supported other extra activities and talked at various careers events. He is a great ambassador for the industry and a real success story of
what can be achieved via the apprenticeship route.
(YFN) holds free events every two weeks for one hour. Since the YFN was established in 2019, there have been nearly 60 events and they are open to any employee of BIFA Members. Events are only listed one at a time and can also be found on the dedicated YFN LinkedIn page. For more information, see: www.bifa.org/membership/young- forwarder-network
“I am looking forward to working with Laura who, no doubt, will bring some new ideas and keep the momentum going. As with most things, this digital format is here to stay and once the regional face-to- face events are re-established, the online events will take place every three weeks.” The Young Forwarder Network
IATA names new head of global cargo
IATA has appointed Brendan Sullivan as its new global head of cargo with immediate effect, replacing Glyn Hughes who left the organisation in January. Since Hughes’ departure, Sullivan has been acting global head of cargo alongside his role as head of cargo operations and e-commerce. IATA said that Sullivan has worked in air cargo for 20 years and has spent 14 years at IATA, playing a key role in two recent initiatives; the One Source data sharing platform and the IATA Face Campaign which aims to build the next generation of air cargo leadership. Nick Careen, IATA’s senior vice president for
operations, safety and security, said: “Brendan will be a great global head of air cargo. He knows the industry from frontline operations to the development of global standards. He recognises the critical need for modernisation to meet the needs of air cargo’s biggest business opportunities – e-commerce and special cargo. And he has the passion to drive a post-crisis agenda that will strengthen air cargo’s contribution to the global economy and to the airline business.” Hughes left the role through voluntary redundancy as part of a wider restructuring. In February, he took the newly created role of director general at TIACA.
By air – Warsaw Convention (17 SDR): £17.46 per kg
By sea – Hague Visby rules (2 SDR): £2.05 per kg £684.53 per package
BIFA STC: (2 SDR): £2.05 per kg
By road – CMR (8.33 SDR): £8.55 per kg
(The SDR rate on 16 August 2021,
By air – Montreal Convention (22 SDR): £22.59 per kg
according to the IMF website, was 1.02679)
September 2021
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