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Hello!  It’s May 9, and we’re tracking today's top stories: Canada's FIU hits Binance for $6M, JP Morgan fined for suspicious client orders, suitcases of illicit cash flowing through airports, BLM sues Tides foundation, and much more...

Catch up on all the news any time at Illicit Edge!

Featured Story

🎯 FINTRAC fines crypto firm Binance $6M over AML shortfalls. Fine covers failure to report large virtual currency transactions of $10,000 or more in the course of a single transaction. FINTRAC

🔐 Binance Pledged to Thwart Suspicious Trading – Until It Involved a Lamborghini-Loving High Roller WSJ

Top Stories

🌎 JPMorgan's Australia arm fined $509,000 for allowing suspicious client orders. JPM’s failure to identify suspicious trades was "careless" and it should have acted more expeditiously. Reuters

🌎 The Suitcases Full of Cash Flowing Through Airports. London and Dubai's international airports have become conduits for billions of dollars of illicit funds linked to corruption and drug trafficking. WSJ

🚚 Four flight attendants arrested, accused of taking millions in drug money to Dominican Republic NBC

🌎 BLM Global Network files $33M lawsuit against group helping fund college protests. A progressive non-profit that has been shelling out cash to anti-Israel protest groups is being sued by Black Lives Matter for fraud. NYP

🚩 Squad Rep’s YouTube Page Is a Conspiracy Theorist’s Dream Daily Beast

🌎 More Regulators Eye Whistleblower Award Programs Hoping for Insider Tips. Programs to award whistleblowers who provide tips that lead to enforcement actions are gaining momentum, both in the U.S. and abroad. WSJ

🌎 Malaysia only recognizes sanctions imposed by UN Security Council. That was the message conveyed by Malaysia to U.S. Treasury delegation. Star

🌎 Tesla is being investigated for securities and wire fraud for self-driving claims. DOJ is examining whether Tesla misled consumers, investors, and regulators about its promises for fully autonomous vehicles. Verge

🌎 The shadow fleet of oil tankers enabling Russia's war and undermining global sanctions. Russia is making between $500M and $1B every day by selling oil. "They're rubbing it on our face and laughing at us." CBC

🌎 China's Volt Typhoon campaign is metastasizing. US diplomats decry penetrations of critical infrastructure that show a new type of threat and intent. Defense One

🌎 Undercover operation nets arrests as New Mexico’s top prosecutor blames Meta for online predators. The arrests are the result of a monthslong undercover operation in which the suspects connected with decoy accounts that were set up by the state DOJ. AP

🌎 Cyberattack disrupts operations at major U.S. health care network. A cyberattack has disrupted “clinical operations” at major health care nonprofit Ascension, forcing it to take steps to minimize any impact to patient care. CNN

IN THE NEWS

Russia

🇷🇺 A (Strange) Interview With the Russian-Military-Linked Hackers Targeting U.S. Water Utilities Wired

🇷🇺 Rich Russians Stuck in Limbo as War Creates Succession Conundrum Bloomberg

🇷🇺 Steven Seagal attends Putin inauguration, faces EU sanctions Daily News

🇷🇺 Russia Pumps Oil Above Target as New Voluntary Cuts Enter Force Bloomberg

🇷🇺 Sanctioned oil trader sues US law firm over alleged fake CIA program Reuters

🇷🇺 Russia Fails To Collect Billions in Oil Profits from Asian Ally Newsweek

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China

🇨🇳 U.S. could ban Chinese connected vehicles or impose restrictions Reuters

🇨🇳 China outbound investment rule to be completed by end of year Reuters

🇨🇳 China Takes Advantage of Putin's Imploding Gas Giant Newsweek

🇨🇳 China’s use of RISC-V chip standard faces headwinds amid US scrutiny and Google’s end of Android support SCMP

🇨🇳 Huawei's new phone uses more China-made parts, memory chip Reuters

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Corruption & Financial Crime

💸 The Package King of Miami NY Mag

💸 UNRWA staff stealing and selling humanitarian aid UN Watch

💸 Ohtani's ex-interpreter Ippei Mizuhara to plead guilty to bank, tax fraud ESPN

💸 Drake's 'Silence Policy' Shell Corporation Raises Questions Newsweek

💸 Ex-Goldman Banker Fights Extradition Over Ghana Bribery Case Bloomberg

💸 Fake Monet and Renoir on eBay among 40 counterfeits identified using AI Guardian

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Crypto & Cyber

🔐 Biden Vows to Kill Bill to Retract SEC Crypto Banking Policy Decrypt

🔐 SEC argues $2B penalty against Ripple is needed, slams $10M counterproposal Block

🔐 Hackers Behind MGM Attack Targeting Financial Sector in New Campaign Bloomberg

🔐 Encrypted services Apple, Proton and Wire helped Spanish police identify activist TechCrunch

🔐 US crypto entrepreneur arrested in Dubai alleges torture by police Guardian

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