Plus: China Strikes Back with New Drone Export Restrictions Amid U.S. Tech War…
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7/31/23

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Breaking News for Financial Crime Professionals

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Happy Monday!  It’s July 31, and we’re tracking today’s top stories: Sanctions sought against Swiss citizens in Russian tax scandal, attackers steal $24M in Curve Pool exploits, bitcoin mining machines are flowing into Russia, China launches new drone export controls, and much more...

 

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Featured Story

 

🎯 Magnitsky Affair: Sanctions sought against ex-Swiss attorney general. The US-Helsinki Commission has called for sanctions against three Swiss citizens in connection with a Russian tax scandal. Swissinfo

 

Top Stories

 

🌎 Attackers Steal $24 Million From Several DeFi Projects in Curve Pool Exploits. The exploits are rooted in an issue with Vyper, an alternative programming language for smart contracts. Decrypt

 

🌎 Amid Sanctions, Bitcoin Mining Machines Are ‘Flowing’ Into Russia. The bitcoin mining industry in Russia is booming, and hardware manufacturers Bitmain and MicroBT are positioning themselves to reap the benefits. CoinDesk

 

🌎 China curbs exports of drone-related equipment amid U.S. tech tensions. Over 50% of drones sold in the U.S. are made by Chinese-based company DJI – the most popular drone used by public safety agencies. Reuters

 

🌎 U.S. Hunts Chinese Malware That Could Disrupt American Military Operations. The discovery of the malware has raised fears that Chinese hackers have inserted code designed to disrupt U.S. military operations in the event of a conflict. NY Times

 

🌎 Son of Colombia’s president arrested as part of money laundering probe. Colombian police arrested the president’s son as part of a high-profile money laundering probe into funds collected from convicted drug traffickers during last year’s presidential campaign. AP

 

🌎 Rebel, Kingmaker, and Accused War Criminal: The Last Confessions of an Afghan Warlord. Abdul Rashid Dostum has dodged assassin's bullets and survived poisoning. Now from exile, he plots his revenge against the Taliban, rages about the failures of the war and for the first time addresses the charge that he ordered brutal crimes. Rolling Stone

 

🌎 Nigel Farage launches website over de-banking 'scandal'. Launching the AccountClosed.org website via social media, Mr Farage said: "Most people who have this happen to them feel helpless. There's no-one to speak for them. BBC News

 

🌎 Ukraine uses North Korean rockets to blast Russian forces. Russian Defense Minister Sergei Shoigu also visited Pyongyang last week to meet with Kim Jong-Un while the country celebrated the 70th anniversary of the end of the Korean War. Insider

 

🌎 DOJ tries to jail key Hunter Biden witness Devon Archer on eve of congressional testimony. Manhattan federal prosecutors on Saturday filed a letter requesting a judge set a date for Archer to start his one-year sentence in a fraud case unrelated to the first son’s various scandals. NY Post

 

🌎 Pentagon Investigates ‘Critical Compromise’ Of Air Force Communications Systems. The government was tipped off that a 48-year-old engineer had taken government radio technologies home, effectively stealing them for his own use. Forbes

 

🌎 Elon Musk’s Unmatched Power in the Stars. Musk has become the most dominant player in space as he has steadily amassed power over the strategically significant field of satellite internet. NY Times

IN THE NEWS

China & Russia

 

💥 Maryland police are using drones from a Chinese company that were banned in four states Insider

 

💥 Chelsea's 'payments to agents during Roman Abramovich era among transactions that led to £8.6m fine by UEFA' Daily Mail

 

💥 Biggest hurdles to China entry into trans-Pacific trade pact are political Reuters

 

💥 Italy: Joining China's Belt and Road was 'atrocious' decision Guardian

 

💥 How China is threatening U.S. GPS dominance with Beidou CNBC

Compliance & Enforcement

 

🚩 UAE to set up dedicated money laundering prosecution offices AFP

 

🚩 How this executive is readying for a boom in financial crime reporting requirements Sydney Morning Herald

 

🚩 Lebanon's veteran central bank chief leaves post with legacy in shreds Reuters

 

🚩 West African leaders threaten sanctions, force against Niger coup leaders Reuters

Crypto & Cyber

 

🔐 Despite Uproar, Crypto Bounties to Unmask Bad Actors Starts to Get Traction CoinDesk

 

🔐 Clear Led a Flyer Carrying Ammo Under a False Name to TSA, Sparking Probe Daily Mail

 

🔐 Crypto Firm Turns to Estonian Authorities After $37 Million Hack Bloomberg

 

🔐 How America's biggest retailers plan to use technology to catch organized retail theft CNBC

Corruption & Financial Crime

 

💸 The Bahamas have been a smuggler’s paradise for generations: Rum. Cocaine. And, increasingly, people. Washington Post

 

💸 The Luton estate that made Andrew Tate UnHerd

 

💸 How Foreign Thieves Are Scamming Americans on Welfare WSJ

 

💸 Insurance broker lied about owning F1 team, $250M Champagne collection in bid to get on Forbes Billionaires list NY Post

"I came from a real tough neighborhood. I put my hand in some cement and felt another hand." --Rodney Dangerfield

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