Plus: Razzlekhan's $3.5 Billion Bitfinex Laundering Case Ends in Plea Deal...
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7/24/23

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Breaking News for Financial Crime Professionals

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Happy Monday!  It’s July 24, and we’re tracking today’s top stories: Booz Allen to pay $377M in fraud case, China's Microsoft hack more impactful than previously thought, five tons of cocaine seized in Italy, Razzlekhan-Bitfinex crypto plea deal, and much more...

 

Plus... six new financial crime reports to start your week!

Featured Story

 

🎯 Booz Allen to pay $377 million to settle US charges over past billing practices. DC U.S. Attorney Matthew Graves described the settlement as "one of the largest procurement fraud settlements in history." Reuters

 

Top Stories

 

🌎 Compromised Microsoft Key: More Impactful Than We Thought. Researchers at the cloud security firm Wiz claim the method the Chinese hackers used to access emails – forged encryption keys – could be used to access Microsoft Teams and OneDrive, too. The Hill

 

🌎 Five tons of cocaine worth $947M seized in Italy's biggest-ever drug bust. The policemen struggled to lift one of the bags - and when they stuck in a knife to find out what was inside, white powder was left on the blade. Sky News 

 

🌎 'Razzlekhan,' Husband Agree to Plea Deal in Bitfinex Hack Laundering Case Worth Billions. Morgan and her husband were accused of laundering roughly 25,000 BTC and had access to another 94,000 BTC – worth roughly $3.5 billion – stolen during an exploit of Bitfinex in 2016. CoinDesk

 

🌎 The Risks of One of the Most Severe Tools in America’s Foreign Policy Arsenal. While sanctions are easy to impose, they are politically and bureaucratically difficult to lift, even when they no longer serve U.S. interests. NYT

 

🌎 Russian Millionaire Linked to Key Putin Ally Found Dead in Moscow. A businessman with links to Russia's security services was the latest high-profile figure among the country's elite to die in unexplained circumstances. Newsweek

 

🌎 China hits back against Western sanctions. As America ratchets up its sanctions against China, making it impossible for Western chip companies to sell Chinese customers cutting-edge semiconductors, new volleys from Beijing are coming thick and fast. Economist

 

🌎 Failed Palau Media Deal Reveals Inner Workings of China’s Pacific Influence Effort. The largest shareholder in Tian and Uludong’s abortive venture was Overseas Chinese Big Data Group, a Chinese company that works with universities and research institutes affiliated with China’s military. OCCRP

 

🌎 ISIS Allies Used Crypto to Raise Millions. Multiple pro-ISIS groups in Tajikistan raised around $2 million in Tron-based USDT during 2022 and have been recruiting fighters for ISIS’s affiliate in Afghanistan. CoinDesk

 

🌎 US Justice Department to double its crypto team, target ransomware crimes. The National Cryptocurrency Enforcement Team, established in 2021, will be merged with the Computer Crime and Intellectual Property Section. Cointelegraph

 

🌎 Billionaire Leon Black agrees $62.5m deal to settle lawsuit over links to Jeffrey Epstein. Apollo co-founder pays US Virgin Islands government to be released from Epstein-related claims. Telegraph

 

🌎 London judge orders confiscation of $130M from Nigerian ex-governor Ibori. Ibori is in Nigeria and has said he would appeal against the confiscation order, one of the biggest issued against an individual in recent British legal history. Reuters

IN THE NEWS

Russia

 

🇷🇺 Russia evades world's sanctions with lessons learned from Iran Fox News

 

🇷🇺 Russia Defies Sanctions by Selling Oil Above Price Cap WSJ

 

🇷🇺 Sanctions Haven’t Stopped Russians From Having Their Fun in the Sun Foreign Policy

 

🇷🇺 Ukraine Says It Completes Nationalization of Tycoons’ Sense Bank Bloomberg

 

🇷🇺 Russia Seeks 18 Years in Jail for Founder of Cybersecurity Firm AFP

China

 

🇨🇳 Rich lode of EV metals could boost Taliban and its new Chinese partners WaPo

 

🇨🇳 The Chinese groups accused of hacking the US Reuters

 

🇨🇳 Japan's new chip equipment export rules take effect Nikkei

 

🇨🇳 Ford ‘reviewing’ letter from US lawmakers worried about Chinese battery maker partner's ties to 'forced labor' Fox News

 

🇨🇳 China Told To Stop Tankers In Its Waters Reaching N. Korea AFP

 

🇨🇳 Retired Canada police officer charged with foreign interference for China Guardian

Crypto & Cyber

 

🔐 Crazy crypto-ruling judge shaking up the $1.2 trillion market NY Post

 

🔐 SEC Signals Appeal to Crypto Ripple Ruling in Response to Terra Case Bloomberg

 

🔐 DeFi Protocol Conic Finance Hacked for 1,700 Ether CoinDesk

 

🔐 Sam Bankman-Fried funding defense with $10M of stolen Alameda money gifted to his father NY Post

 

🔐 Open-source supply chain attacks expand to the banking sector The Record

REPORTS

 

📘 Export Controls — The Keys to Forging a Transatlantic Tech Shield CEPA

 

📘 Currency, Conflict, and Global Order Project Syndicate

 

📘 National Strategic Assessment for Serious and Organized Crime 2023 UK National Crime Agency

 

📘 Internet Organized Crime Assessment (IOCTA) 2023 Europol

 

📘 Regulating Crypto: Government Response to the Committee’s Fifteenth Report UK House of Commons

 

📘 Global Peace Index 2023 Vision of Humanity

"Never doubt that a small group of thoughtful committed individuals can change the world. In fact, it's the only thing that ever has." --Margaret Meade

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