Plus: New Definition of Fraud Shields White-Collar Criminals as High-Profile Prosecutions Collapse...
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8/4/23

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Happy Friday!  It’s August 4, and we’re tracking today’s top stories: Operation Narsil disrupts child abuse network, SEC charges 18 in massive $50M crypto fraud scheme, Leah Remini sues Scientology, new definition of 'fraud' wipes out high-profile prosecutions, and much more...

 

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Featured Story

 

🎯 Operation Narsil disrupts network of child abuse websites designed to generate profits from advertising. Over two years, INTERPOL member countries worked together using the 'Worst of List' to share intelligence and coordinate arrests. INTERPOL  

 

Top Stories

 

🌎 SEC Charges 18 Utah Defendants in $50M Crypto Fraud Scheme. The SEC charged Draper, Utah-based DEBT Box, as well as the company’s four principals and 13 other defendants, with operating a scheme to sell unregistered securities called “node licenses.” CoinDesk

 

🌎 Leah Remini Sues Scientology, Says She Is Victim of ‘Psychological Torture’. Remini, who joined the Church in 1979 as a child and left in 2013, claims Scientology’s “mob-style operations and attacks” have “significantly” impacted her life and career. Variety

 

🌎 New Definition of ‘Fraud’ Wipes Out High-Profile Prosecutions. Fraud doesn’t mean what it used to. A string of high-profile federal prosecutions are falling apart as courts apply a newly narrowed legal definition of the crime. WSJ

 

🌎 Binance Appoints New Compliance Officer as Regulatory Crackdown Intensifies. Kristen Hecht brings 17 years of experience in financial crimes compliance at a time when Binance is juggling a host of complaints. Decrypt

 

🌎 Prigozhin-Linked Firms Continue To Sign Hefty State Contracts. The Wagner Chief has signed state contracts worth at least 2 billion rubles ($21.4 million) since leading a short-lived mutiny in late June. RFE

 

🌎 EU imposes sanctions on dozens in Belarus over protest crackdown and support for Russia. Travel bans in Europe and asset freezes were slapped on 38 officials, including several judges and prosecutors. AP

 

🌎 2 US Navy sailors arrested on charges tied to national security and China. U.S. officials have for years expressed concern about the espionage threat they say the Chinese government poses, bringing multiple criminal cases against Beijing intelligence operatives. AP

 

🌎 FCC slaps $300M fine on “largest illegal robocall operation” it’s ever seen. The FCC said it "offered the parties a chance to respond, which they did not do, resulting in today's unprecedented fine." Ars Technica

 

🌎 Bitcoin launderer pleads guilty, admits to massive Bitfinex hack. The guilty plea by Ilya “Dutch” Lichtenstein came before his wife pleaded guilty to money laundering conspiracy and conspiracy to defraud the U.S. government. CNBC

 

🌎 Iran, Pakistan Discuss Ways to Complete Gas Pipeline Bypassing US Sanctions. Iran announced its readiness to help urgently complete and operationalize a long-delayed multibillion dollar pipeline to export natural gas to neighboring Pakistan. VOA

 

🌎 Curve, Metronome and Alchemix offering 10% bug bounty on Vyper hack. The exploit on July 30 resulted in the theft of roughly $70 million in cryptocurrencies, bringing the bounty close to $7 million. Cointelegraph

 

🌎 Former first-round NBA draft pick is sentenced to 10 years in prison in $4M health care fraud. Williams impersonated a health plan employee and threatened players who did not pay him a "kickback" of at least $300,000. CBS Sports 

IN THE NEWS

China & Russia

 

💥 What’s next for China’s digital currency? MIT Tech Review

 

💥 China’s non-cooperation list lives on Politico

 

💥 U.S. claims success with sanctions on Russian oil UPI

 

💥 White House says top Russian official pitched North Korea on increasing sale of munitions to Moscow AP

 

💥 US House panel opens probe into suspected Chinese hacking of Commerce, State emails Reuters

 

💥 Companies in China to conduct regular personal data compliance audits under new rules Reuters

Corruption & Financial Crime

 

👀 Fintech Vesttoo considers removing its CEO after fake collateral scandal Reuters

 

👀 Dishonesty expert accused of fraud sues Harvard and watchdog site for $25 million over their ‘appalling’ bias and ‘utter disregard for evidence’ Fortune

 

👀 UK's Hunt asks financial watchdog to urgently review 'debanking' concerns Reuters

 

👀 Does the punishment fit the crime? Art fraudsters face erratic sentencing Art Newspaper

 

👀 Son of Colombia's president admits illegal money entered election campaign Reuters

Crypto & Cyber

 

🔐 Hong Kong’s New Crypto Regime Awards First Exchange License to HashKey Bloomberg

 

🔐 How Malicious Android Apps Slip Into Disguise Krebs on Security

 

🔐 FBI, CISA, and NSA reveal top exploited vulnerabilities of 2022 Bleepingcomputer

 

🔐 Figure Abandons Quest to be U.S. Chartered Crypto Bank After Three-Year Fight CoinDesk

 

🔐 Marine industry giant Brunswick Corporation lost $85 million in cyberattack The Record

HAVE A WONDERFUL WEEKEND!

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