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🎯 TikTok Fined $370 Million for Mishandling Child Data. TikTok’s default setting did not adequately protect children’s privacy, nor was the company transparent in explaining what it was doing with the data of users age 17 and younger. NYT
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💥 China sanctions Northrop Grumman, Lockheed Martin for arms sales to Taiwan. China has applied sanctions on U.S. companies over selling weapons to Taiwan on numerous occasions before, and it is not immediately clear how they work or what they are intended to achieve given that neither company sells to China. Reuters
💥 Number of people on terrorist watchlist stopped at southern U.S. border has risen. So far in fiscal year 2023, 160 migrants whose identities match those on the list have been stopped trying to cross the U.S.-Mexico border, compared to 100 in 2022. NBC News
💥 Russian tycoons haul over $50 billion of assets back home under pressure from sanctions and the Kremlin. Europe has for decades been the preferred destination for offshore Russian companies to base their funds, but this tradition could soon come to an end as the costs of keeping capital abroad rise. Insider
💥 UAE police: $1 billion worth of Captagon amphetamines hidden in doors seized. Police in Dubai have seized 86 million tablets of the amphetamine known as Captagon hidden in a shipment of doors and decorative building panels. AP
💥 Treasury Sanctions Iranian Officials and Companies Connected to Repression Anniversary. Today’s sanctions are OFAC’s 13th round of designations in connection with the protests that began in September 2022 pursuant to Executive Order 13553. U.S. Treasury
💥 UK, France and Germany refuse to lift sanctions on Iran under nuclear deal. Tehran in ‘too serious a breach’ of 2015 deal to lift sanctions under clause that would allow ballistic missile trade. Guardian
💥 US sanctions 5 Turkish firms in broad Russia action on over 150 targets. The Biden administration on Thursday imposed sanctions on five Turkish companies and a Turkish national, accusing them of helping Russia evade sanctions and supporting Moscow in its war against Ukraine. Reuters
💥 Binance.US Head of Legal and Chief Risk Officer Leaving the Crypto Exchange. Binance.US has lost two more high-level executives, not long after the crypto exchange lost CEO Brian Shroder amid intensifying regulatory scrutiny. CoinDesk
💥 G-7 Plans to Ban Imports of Russian Diamonds. The G-7 and its European allies are trying to find additional ways to squeeze Russia’s economy to constrain its ability to fund its war in Ukraine. Bloomberg
💥 Trump’s New York Fraud Trial in Limbo After His Legal Gambit Works. An appellate judge has taken the remarkable step of hitting pause on the New York Attorney General’s upcoming bank fraud trial against Donald Trump. Daily Beast
💥 House Republicans Demand Full Huawei Sanctions After Chip Breakthrough. Huawei and SMIC, the Chinese company that produced the chip, are both already subject to partial US sanctions — and are among the primary targets of an export control regime the Biden administration has imposed over the last year. Bloomberg
💥 U.S. Treasury official says Iraq must act to avoid further action on banks. In July, the United States barred 14 Iraqi banks from conducting dollar transactions as part of a wider crackdown on the illicit use of dollars. Reuters
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