Hello!  It’s May 8, and we’re tracking today's top stories: FinCEN issues Iran terrorist financing advisory, Raiffeisen Bank scraps Russia plan, Trump plans to send cartel kill teams to Mexico, America's China sanctions strategy has a credibility problem, and much more...   

🔥 Illicit Edge is the world's financial crime news hub. Your colleagues can join our community here!

Featured Story

🎯 FinCEN Issues Advisory on Iran-Backed Terrorist Organizations. Iran seeks to project power by exporting terrorism throughout the Middle East by financing a range of regional armed groups. U.S. Treasury

🔑 Without Malaysia and Singapore, Iran couldn’t shift its sanctioned oil Reuters

Top Stories

🌎 Raiffeisen Scraps Russia Plan. Raiffeisen Bank canceled a complex share deal aimed at bringing capital out of Russia after scrutiny from regulators. Bloomberg

🔐 Crypto Exchange Bitpanda Expands Austrian Presence With Raiffeisen CoinDesk

🌎 Trump Is Planning to Send Kill Teams to Mexico to Take Out Cartel Leaders. Trump has told allies about his plans to covertly send Special Forces to Mexico to assassinate drug kingpins. Rolling Stone

🌎 America’s China Strategy Has a Credibility Problem. A Muddled Approach to Economic Sanctions Won’t Deter Beijing. Foreign Affairs

🚀 Featured Report: Disabling the Enablers of Sanctions Circumvention. Enablers hide behind a veil of white-collar respectability while helping clients hide illicit wealth. RUSI

🌎 Banned Chinese cotton found in 19% of U.S. and global retailers' merchandise. The U.S. enacted a law in 2021 to safeguard its market from products tainted by human rights abuses in Xinjiang. Reuters

🌎 The Mexican Bank Behind Alleged Bribes to a Texas Democrat. U.S. federal indictment of congressman alleges payments from billionaire Ricardo Salinas Pliego’s Banco Azteca were used to influence legislation. WSJ

🌎 U.S. Revokes Intel, Qualcomm Licenses to Sell Chips to Huawei. The move comes after the release last month of Huawei’s first AI-enabled laptop, the MateBook X Pro powered by Intel. Reuters

🌎 U.S. eyes curbs on China’s access to AI software behind apps like ChatGPT. Commerce Department is considering new regulatory push to restrict the export of proprietary AI models. Reuters

🌎 Finance watchdog visited Turkey ahead of ‘grey list’ decision. The on-site visit, which was not publicized, assessed Turkey’s progress in curbing key AML/CFT concerns. Reuters

🌎 Biden Iran envoy put classified documents on hacked personal email, phone. Lawmakers have uncovered troubling allegations that Robert Malley stored classified material which was later accessed by a hostile cyber actor. NYP

🌎 TD Bank could face billions in fines following AML probe. TD is not alone in its involvement with money laundering, as CIBC and RBC have also been fined. Toronto Star

IN THE NEWS

Russia

🇷🇺 EU set for €3B raid on Russian assets to buy weapons for Ukraine Politico

🇷🇺 Russian oil still seeping into UK – the reasons why sanctions are not working Sky

🇷🇺 Illegal Russian cucumbers face crackdown by Lithuania Politico

🇷🇺 Russia’s sanctions busting may call for change of approach Euro News

🔥 Get more news at Illicit Edge!

--

China

🇨🇳 Senior official with China’s new financial regulator targeted in corruption probe week into job SCMP

🇨🇳 Classified docs credibly suggest COVID originated from Wuhan lab leak Fox

🇨🇳 Chinese network behind one of world’s ‘largest online scams’ Guardian

🇨🇳 TikTok sues US to block law that could ban the social media platform AP

🇨🇳 Peru port conflict escalates as Chinese firm insists on original terms Reuters

--

Corruption & Financial Crime

💸 UN Official Duped By Fake Rabbi’s Invite To Speak On ‘Morality Of Intifada’ At Anti-Israel Protest Daily Wire

💸 US Fed issues enforcement action with First Citizens Bank Of Butte Reuters

💸 Big four accountancy firms PwC and EY fined over LC&F audit failures Guardian

💸 FDIC is a workplace rife with sexual harassment Axios

💸 Judge in Trump's classified documents case cancels May trial date AP

--

Crypto & Cyber

🔐 NFL legend Rob Gronkowski's crypto shilling will cost him $1.9M Block

🔐 Nigerian stakeholders demand Binance reveal identity of bribery official Cointelegraph

🔐 Crypto Mixers Targeted in House Effort to Clamp Down on Money Laundering CoinDesk

🔐 House Republicans Move To Crush SEC's Anti-Crypto Banking Policy Decrypt

🔐 SEC Crypto Crackdown: Every Company That Is Being Investigated Decrypt

--

Trafficking

🚚 Flights for illegal immigrants without IDs targeted in FAA bill as deadline looms Fox

🚚 Adult webcam platform paid $2.6M into Tristan Tate’s bank account ICIJ

🚚 Soaring remittances to developing nations overtake FDI Guardian

🚚 Colombia's illegal armed groups grew in 2023 Reuters

"Trust everyone, but always cut the cards.” -- Benny Binion

📩

Share Illicit Edge with friends!

They can subscribe here for free and never miss a story.