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8/2/23

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Breaking News for Financial Crime Professionals

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Hello!  It's August 2, and we’re tracking today’s top stories: U.S. adds Chinese companies to forced labor blacklist, Trump's lean, mean grift machine, monster trucks hit the road in Mexico's bloody cartel wars, Cloudzy's ransomware emporium, and much more...

 

Plus - Analysis and Reports: Old wise men, terrorist crypto, China's fentanyl pipeline, Egmont Group's annual report, etc.

Featured Story

 

🎯 US targets two China-based firms over forced labor practices. The United States will ban goods from two key firms as part of its effort to eliminate the use of forced labor practices in the U.S. supply chain. Reuters  

 

Top Stories

 

🌎 Trump’s New Legal Fund Is a Lean, Mean Grift Machine. Trump’s legal costs have gotten so high that he’s been forced to find a new way around campaign finance laws, allowing him to draw massive donations from megadonors. Daily Beast

 

🌎 What to know about the judge overseeing Trump's Jan. 6 case. Tanya Chutkan, judge in Trump’s latest criminal case, is ‘toughest punisher’ of Jan. 6 rioters, once repped Theranos. NY Post

 

🌎 Mexico’s ‘Monster’ Trucks Show Cartels Taking Drug War to Next Level. Taking the monster truck concept to deadly new realms, cartels are modifying pickups with gun turrets, steel armoring and battering rams. NY Times

 

🌎 Cloud company assisted 17 different government hacking group. Cloudzy had been leasing server space and reselling it to no fewer than 17 different state-sponsored hacking groups from China, Russia, Iran, North Korea, India, Pakistan and Vietnam. Reuters

 

🌎 U.S. House committee flags MSCI, BlackRock for China investments. U.S. investments in 50 blacklisted Chinese companies have drawn the attention of the House Select Committee on the Chinese Communist Party. CNBC

 

🌎 Russia’s Digital Ruble Won’t Help It Evade Sanctions Anytime Soon. Russian lawmakers, analysts, think tanks and state media have touted the Digital Ruble as a game-changer in helping Russia skirt Western restrictions. Moscow Times

 

🌎 Ripple Ruling Rebuke Complicates Coinbase’s Defense Against the SEC. U.S. District Judge Jed Rakoff rejected Judge Torres’ distinction between institutional sales and sales to retail investors on crypto exchanges – a misinterpretation of the Howey test. CoinDesk

 

🌎 FBI finds 200 sex trafficking victims, 59 missing children in two-week sweep. The nationwide operation also identified or arrested 126 suspects of child sexual exploitation and human trafficking and 68 suspected traffickers. NBC News

 

🌎 Bald Token Rugpull May Have Links to Sam Bankman-Fried’s Alameda. On-chain data shows bald's deployer contract has interacted with Alameda-linked wallets and was an active DeFi participant in the early days. CoinDesk

 

🌎 Why it would be better for Israel if Iran enriched to 90% now. Israel is better off with an Iranian push to 90% without billions of dollars flowing to the regime and without the illusion that holding Tehran at 60% enrichment is meaningful. FDD

 

🌎 Secret Data Dumps and Sleaze Allegations Rock Monaco’s Royal Palace. Just as the rumors about his marriage are dying down, Prince Albert faces a new crisis in Monaco fueled by money and power. Daily Beast

IN THE NEWS

Russia & China

 

💥 China limits drone exports over fears they are being used in Ukraine conflict Sky News

 

💥 Kazakhstan Refuses To Extradite Russian IT Expert To U.S. The Record

 

💥 Pro-Russian Facebook Campaign Aims to Influence Public Opinion in Africa The Messenger

 

💥 Solar Supply Chain Grows More Opaque Amid Human Rights Concerns NY Times

Crime, Corruption, and Crypto

 

💵 Binance Wins Operational License in Dubai Cointelegraph

 

💵 Scenes From a City That Only Hands Out Tickets for Using Fentanyl NY Times

 

💵 GameStop to Remove Crypto Wallets Citing 'Regulatory Uncertainty' Bloomberg

 

💵 US-Taliban talks focus on economy, human rights, anti-drug trafficking Reuters

 

💵 Banks accused of closing accounts belonging to British Muslims Sky News

Analysis & Reports

 

🎙️ Parsing the Challenges of Fighting Financial Crime, with Rick Small, Dan Soto and John Byrne Financial Crime Matters

 

📘 OFAC Sanctions Terrorists, Highlights Crypto Address Controlled by SDN Ali Shafiu Chainalysis

 

📘 China’s Pharmaceutical Industry Brings Fentanyl Risks FiveBy

 

📘 Cash is King: Impact of the Ukraine war on illicit financial flows in South Eastern Europe Global Initiative Against Transnational Organized Crime

 

📘 The role of emerging powers amid widening geopolitical sanction fault lines Control Risks

 

📘 De-Risking Authoritarian AI Australian Strategic Policy Institute

 

📘 Egmont Group Annual Report 2022 Egmont Group

It is certain, in any case, that ignorance, allied with power, is the most ferocious enemy justice can have. --James Baldwin

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