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  • Commonwealth Bank agrees to pay $700m to settle money laundering lawsuit

    If federal court accepts offer it will be largest civil penalty in Australia’s corporate history
    The Guardian (UK)
    Monday, June 4, 2018

    The Commonwealth Bank has agreed to pay $700m to settle civil proceedings relating to breaches of anti-money laundering and counter-terrorism financing laws. The announcement follows court-ordered mediation between CBA and the government’s financial intelligence agency, Austrac. The deal would close civil proceedings against CBA, which began 10 months ago. In August Austrac announced it was suing CBA for 53,700 alleged breaches of money laundering and counter-terrorism financing laws. The case related to CBA’s use of intelligent deposit machines, a type of ATM launched in 2012, which let customers anonymously deposit and transfer cash.

  • Pot delivery services could be 'cockroaches' of marijuana legalization, experts say

    Some say so-called grey market will bloom while legal businesses suffer under strict legalization
    CBC News (Canada)
    Sunday, June 3, 2018

    canada spruceMarijuana businesses are growing as Canada moves toward legalization of recreational pot, creating an increasingly daunting job for those tasked with enforcing the rules. In Vancouver's bustling downtown, sleek, modern posters are plastered on lamp posts. It's not until you take a closer look that you spot the rolled joints inside a sandwich or buds among a plate of broccoli. Once an underground industry, marijuana delivery services are now advertising publicly, joining unlicensed retail stores and online shops as cannabis businesses openly skirting the existing law. (See also: Craft cannabis growers in B.C. sound alarm over survival of sector | 'I deliver to your house': pot dealers on why legalization won't kill the black market)

  • Legalising cannabis ‘could earn Treasury £3.5bn’

    Report suggests change to law would generate revenue and cut costs across justice system
    The Guardian (UK)
    Saturday, June 2, 2018

    Introducing a legal cannabis market to the UK could earn the Treasury between £1bn and £3.5bn a year in tax revenues, a new report suggests. Health Poverty Action, an international development organisation, claims that regulating and legalising cannabis in the UK is an “idea whose time has come” and that the windfall could be used to plug the gap in the NHS budget. “Prohibition has failed,” said the group’s advocacy officer, Natasha Horsfield. “From our perspective, it’s about regulating the market to improve public health outcomes and create a safer environment. But we can see the potential benefits from a taxation perspective if we were to regulate it.” (See also: Why we must legalise cannabis now for the sake of public health)

  • Dominica minister wants debate on decriminalisation of marijuana

    Dominica "should start talking about it" adding "as to what we decide is another matter"
    Jamaica Observer (Jamaica)
    Friday, June 1, 2018

    A senior government minister says he remains baffled as to why Dominicans are afraid of debating the issue of decriminalisation of marijuana whether it is or medicinal or other purposes. “There's a debate on marijuana…the whole world is debating marijuana, whether it is for medicinal purposes, whether it is for religious purposes. Are we going to remain in our little world and afraid to take about marijuana? It is a discussion we need to have,” Deputy Prime Minister Reginald Austrie said. “In St Vincent (and the Grenadines) they talking about it, CARICOM (Caribbean Community) has taken a decision to begin to talk about it. Why are we not talking about it more in Dominica?"

  • Illicit drug trade worth 2.7bn euros a year in France

    The statistics are the first ever produced in France on the contribution of drug trafficking to the economy
    AFP (France)
    Wednesday, May 30, 2018

    The trade in illegal drugs contributes an estimated 0.1 percent of France's GDP, earning 2.7 billion euros, according to the national statistical institute, Insee. The figures are based on the findings of a government agency poll and could be an underestimate, according to Insee statisticians, since some respondents may have distrusted the pollsters. An estimated 3.1 billion euros-worth of drugs are consumed in France each year, according to the findings, but 400 million euros represent imports and so must be subtracted and credited to the GDP of the exporting countries, leaving a balance of 2.7 billion euros. France's trade in cannabis is worth a billion euros and that in cocaine 800 million euros, according to the estimates.

  • Danish police in new Christiania clampdown as hash market pulled down

    The Local (Denmark)
    Monday, May 28, 2018

    Police in Copenhagen tore down cannabis stands in the Pusher Street market area in Christiania for the third consecutive day. But sellers in the alternative enclave do not yet appear to have accepted the outcome of the police operations. Stalls are regularly raided in police clampdowns on Christiania, an area within Copenhagen originally established by hippie squatters in 1971. Last week, the market area was fenced off for three days, reportedly due to internal discussions between residents. Concerns over increased violence and a “bad atmosphere” were related to the temporary closure. (See also: After five days of raids, Christiania hash traders stop rebuilding market | Police officers return to Christiania after violent scenes)

  • Jamaica poised to become major location for medical cannabis investment ­— Shaw

    Jamaica is ready for global partnerships in developing the new wave of the medical cannabis industry
    Jamaica Observer (Jamaica)
    Sunday, May 27, 2018

    Audley Shaw's trip to Canada has paved the way for Jamaica to play a leading role in the rapidly growing medical cannabis industry, according to the Ministry of Industry, Commerce, Agriculture and Fisheries. Shaw met with representatives from the Canadian Government and the Province of Ontario, as well as numerous companies and investors who shared their commitment to investing in the Jamaican cannabis industry. Shaw emphasised that the Jamaican Government has already established the framework for the aggressive development of the medical cannabis industry, with the CLA granting several licences to grow and process cannabis in Jamaica. (See also: Credit unions could help finance medical cannabis industry)

  • The Netherlands is richer than thought – thanks to the marijuana industry

    Many more illegal weed growers remain below the police radar than previously assumed
    Dutch News (Netherlands)
    Thursday, May 24, 2018

    Illegal cannabis cultivation in the Netherlands is far larger than previously thought, Statistics Netherlands said in a revision of old economic figures. According to the stats office, many more illegal weed growers remain below the police radar than previously assumed. In 2015 the stats office assumed that 40 percent of illegal cannabis cultivators were caught by the police. But new information from the National Police indicate that its more realistic to assume that around 20 percent of weed growers are caught. This also means that the money in the illegal weed sector is higher than previously thought.

  • Doctors in Commons rally to overturn ban on medicinal cannabis

    Group of MPs to campaign on issue following recent case of six-year-old Alfie Dingley
    The Guardian (UK)
    Thursday, May 24, 2018

    Alfie DingleyDoctors in the House of Commons are to lead a campaign to change the law banning the medicinal use of cannabis, as a new all-party parliamentary group (APPG) forms to campaign for the issue. Dan Poulter, a former health minister who still works part-time as a GP, said he had already signed up fellow Conservative Andrew Murrison, Labour’s Paul Williams, and Philippa Whitford of the Scottish National party – four of the Commons’ nine medical doctors. The development comes after Alfie Dingley, a six-year-old boy with epilepsy, pushed medical cannabis on to the political agenda by taking a 300,000 signature petition with him to No 10. He had been effectively treated with cannabis oil in the Netherlands, but was denied it at home in the UK.

  • Big cannabis growers urge senators to ban commercial outdoor growing

    The federal government’s consulting task force had recommended Ottawa should allow for outdoor commercial growing
    Ipolitics (Canada)
    Wednesday, May 23, 2018

    Canada’s medical cannabis industry is making a push in the Senate to ban large-scale outdoor cannabis cultivation. Allan Rewak, the executive director of the Cannabis Canada Council, an industry association that represents licensed producers of medical marijuana, urged senators Wednesday to prohibit large-scale outdoor cultivation in the government’s pot legalization legislation. But others have made the push for the government to open up outdoor pot cultivation to reduce the carbon footprint of growing weed indoors. “There are significant environmental costs to indoor production, including electricity usage,” he said. “Outdoor production can mitigate some of these problems and should be considered an option.”

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