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9/5/23

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Hello! It's September 5, and we’re tracking today's top stories: Bad news for Credit Suisse in tuna bond case, Chinese lenders extend billions to Russian banks, US and allies warn UAE on Russia trade, the story behind Mexican drug gang's murder of 43 innocent students, and much more...

 

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Featured Story

 

🎯 Mozambique Leader Wins Immunity in Tuna Bond Scandal in Setback for Credit Suisse. Just weeks before a trial is set to begin in London, Judge Robin Knowles refused to add President Nyusi as a party to the case against Credit Suisse and other firms involved in the financing of a tuna-fishing fleet and coastal patrol force in Mozambique. Bloomberg 

 

Top Stories

 

🌎 Chinese lenders extend billions of dollars to Russian banks after western sanctions. China's 'Big Four' banks increased their combined exposure to Russia from $2.2 billion to $9.7 billion in the 14 months through March 2023. Insider

 

🌎 Western officials plan to warn UAE over trade with Russia. Officials from Washington and European capitals are visiting the UAE as part of a collective global push to keep computer chips, electronic components, and other dual-use products out of Russian hands. Reuters

 

🌎 Why Did a Drug Gang Kill 43 Students? Text Messages Hold Clues. The Mexican police, military officers and others secretly colluded with a cartel that kidnapped 43 students, a case unsolved after nearly a decade. NYT

 

🌎 China's Huawei opens cloud data center in Saudi Arabia in regional push. The cloud data center in Riyadh, Huawei's 30th worldwide, will support government services for the Saudi kingdom and allow for AI applications and language models in Arabic. Reuters

 

🌎 Putin’s Next Scheme to Solidify Power on Stolen Ukraine Land. Russia is synchronizing voting in occupied territories with efforts to suppress Ukrainian resistance and to run intimidation schemes to force votes in favor of the Kremlin. Daily Beast

 

🌎 Chinese Gatecrashers at U.S. Bases Spark Espionage Concerns. Washington has tracked about 100 incidents involving Chinese nationals trying to access American military and other installations. NY Post

 

🌎 Ukrainian oligarch and Zelensky supporter Ihor Kolomoisky arrested in fraud investigation. The State Department sanctioned Kolomoisky in 2021 for his alleged involvement in “corrupt acts that undermined rule of law and the Ukrainian public’s faith in their government’s democratic institutions and public processes.” CNN

 

🌎 Crypto Casino Stake Targeted in Reported $40M Exploit. Cryptocurrency casino Stake appears to have been targeted by an exploit, with $16 million withdrawn on the Ethereum network following a "private key leak." CoinDesk

 

🌎 UAE creates federal authority for commercial gaming as casino giants flock to Gulf Arab nation. Describing the authority, WAM said it would “create a socially responsible and well-regulated gaming environment, ensuring that all participants adhere to strict guidelines and comply with the highest standards.” AP

 

🌎 Disgraced Wells Fargo exec faces a year in jail. Wells Fargo was required to pay $3 billion in penalties in 2020 for opening checking and credit card accounts without customers’ authorization — an attempt to meet sales goals. The Hill

 

🌎 Kim Jong Un may soon meet with Putin in Russia for arms talks. Since the Russian invasion of Ukraine, U.S. officials have routinely released declassified intelligence in an effort to deter North Korea and China secretly sending weapons to Moscow. NBC News

IN THE NEWS

China

 

🇨🇳 America and China’s $574B chip war has already scored an ‘extraordinary success beyond anyone’s wild dreams’ Fortune

 

🇨🇳 Teardown of Huawei's new phone shows China's chip breakthrough Reuters

 

🇨🇳 Biden-approved green energy firm has deep ties to the Chinese Communist Party Washington Examiner

 

🇨🇳 Hong Kong police smash HK$320 million money laundering operation and arrest 19 SCMP

 

🇨🇳 DeepMind cofounder says U.S. should use Nvidia’s powerful chips as a ‘chokepoint’ to force adoption of A.I. rules Fortune

Corruption & Financial Crime

 

💸 Hezbollah Sanctions Case Highlights Frailties in the Art Market NYT

 

💸 Kyle Deschanel, the Rothschild Who Wasn’t Vanity Fair

 

💸 Israeli Tycoon Steinmetz Held in Cyprus on Romanian Warrant Bloomberg

 

💸 Two convictions in FIFA corruption scandal overturned DW

 

💸 Worcester Art Museum turns over $5 million bronze bust to Manhattan District Attorney CBS News

Russia

 

🇷🇺 Russia says it will not let foreign banks exit easily unless they unfreeze Russian assets Insider

 

🇷🇺 Sanctions against Russia bringing BRICS closer Reuters

 

🇷🇺 The impact of Russia sanctions on Swiss banks Swissinfo

 

🇷🇺 Egypt buys nearly half a million tons of Russian wheat in private deal Reuters     

Crypto & Cyber

 

🔐 LSEG explores blockchain for cross-asset digital 'ecosystem' Reuters

 

🔐 From China to Brazil, here’s how AI is regulated around the world WaPo

 

🔐 Binance Is 'Way Ahead of the Game' on US Regulations, Says CZ Decrypt

 

🔐 Chinese-Speaking Cybercriminals Launch Large-Scale iMessage Smishing Campaign in U.S. Hacker News

Trafficking

 

💊 Seahorses, snakes and illegal pork from Vietnam seized by US Customs CNN

 

💊 Security in Ecuador has come undone as drug cartels exploit the banana industry to ship cocaine AP

 

💊 Global wildlife trafficking on the rise, aided by drug cartels The Hill

"'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded." --Friedrich Hayek

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