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🎯How AI could help stamp out financial crime — or help accelerate it. Several banks have already adopted versions of AI — including HSBC and ING — in their quest to improve their compliance with AML rules after their well-publicized failures to do so. [more]
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🔸The Cleaner and the Laundromat: Belarusian Cleaning Magnate Laundered Millions Through Disgraced Latvian Bank ABLV. Investigators suspect the owner of “Clean World,” a well-known cleaning business that stretches across Russia, Ukraine, and Belarus. [more]
🔸Three "Stop Cop City" activists arrested for financial crimes. A law enforcement task force investigating the activists trying to block the construction of Atlanta's proposed public safety training center have charged three people with financial crimes. [more]
🔸Interview with U.S. Treasury’s Jonathan Fishman on Government’s 2023 De-risking Strategy. [more]
🔸China, India receive record Russian crude oil in May. Russian crude oil imports by China and India in May are expected to hit an all-time high as buyers gorged on discounted supplies. [more]
🔸Nvidia’s CEO Plans Trip to Meet China Executives Despite U.S. Curbs. U.S. sanctions prevent the semiconductor company from selling its most advanced AI chipsets to Chinese customers, including Tencent and ByteDance. [more]
🔸Trump captured on tape talking about classified document he kept after leaving the White House. Federal prosecutors have obtained an audio recording of a summer 2021 meeting in which he acknowledges he held onto a classified Pentagon document about a potential attack on Iran. [more]
🔸Senator Elizabeth Warren Calls for Shutdown of Crypto Funding for Fentanyl. Warren cited the rampant use of cryptocurrency in the Chinese fentanyl trade during a Wednesday hearing. [more]
🔸EU Formally Signs New Crypto Licensing, Money Laundering Rules Into Law. Landmark Markets in Crypto Assets (MiCA) takes the bloc closer to becoming the first major jurisdiction in the world with tailored rules for the sector. [more]
🔸Brazil's top court sentences ex-President Collor to prison for corruption. Collor was a dashing, liberalizing politician who became Brazil's first democratically elected president in 1989 after a two-decade military dictatorship. [more]
🔸Vatican questions how priest moved $17 million meant for missionary work into investment fund. The story of what happened to the money is one that has vexed Vatican officials on both sides of the Atlantic, all the more because the transfers appear entirely legal. [more]