--- title: Sanctions Breach, Shanghai Connection, and Cartel Graveyard --- Plus: Bitcoin Blood Money โ€“ The Shocking Link Between Cryptocurrencies and the Fentanyl Crisis in America | View in browser 8/7/23 Breaking News for Financial Crime Professionals Hello Monday! Itโ€™s August 7, and weโ€™re tracking the top stories to start your week: Armenia funnels U.S. cars to Russia, a global web of Chinese propaganda leads to U.S. tech mogul, cartels cashing in big time at the border, feds dig into crypto markets to nab fentanyl traffickers, and much more... In partnership with: Featured Story ย  ๐ŸŽฏย Armenia funnels U.S. cars to Russia in blatant sanctions evasion scheme. Unprecedented sanctions levied on Moscow have created a business opportunity for used car dealers like 31-year-old Yaroslav Kolchenko, who sips a coffee in the sun near the queue. AFP ย  Top Stories ย  ๐ŸŒŽ A Global Web of Chinese Propaganda Leads to a U.S. Tech Mogul. Behold a financial network that stretches from Chicago to Shanghai and uses American nonprofits to push Chinese talking points worldwide. NY Times ย  ๐ŸŒŽ Cartels Cashing In Big Time on Biden's Border Woes. The cartels have taken advantage of desperate migrants, increasing fees during their perilous journeys and forcing them to traffic drugs. Fox News ย  ๐ŸŒŽ To catch fentanyl traffickers, feds dig into crypto markets. While US diplomats have made fentanyl a point of emphasis in high-level talks with Mexico and China, a multi-agency effort is underway to keep pace with the rapidly changing nature of how fentanyl is trafficked into the US. CNN ย  ๐ŸŒŽ Biden order curbing investment to China expected this week. The goal of the order is to prevent U.S. capital and expertise from accelerating the development of technologies that support China's military and threaten U.S. national security. CNBC ย  ๐ŸŒŽ Upstart Traders of Russian Oil Had Connections in Common. As fallout from the Ukraine war upended global energy markets, one of the biggest mysteries has surrounded the pack of upstart traders that stepped in to handle Russian oil as western firms pulled back. Bloomberg ย  ๐ŸŒŽ The West Sanctioned Russiaโ€™s Billionaires. Now Theyโ€™re Fighting Back. While high-profile oligarchs are pushing back on their sanctions in European courts, so far they havenโ€™t challenged their U.S. sanctions โ€œfor the simple reason that they donโ€™t think they are going to win.โ€ WSJ ย  ๐ŸŒŽ JPMorgan stops processing Russia grain payments. The Russian Agricultural Bank, or Rosselkhozbank, was cut off from the SWIFT international payments system by the European Union last year following Russia's invasion of Ukraine. Politico ย  ๐ŸŒŽ Iraq seeks Interpol alerts for former officials over $2.5 billion graft. Prime Minister Mohammed Shia al-Sudani has said one of his priorities is fighting the rampant corruption that pervades the Iraqi state. Reuters ย  ๐ŸŒŽ The FBI is investigating a multiple-state hospital ransomware attack. The attack, which began last Thursday, shut down emergency rooms and primary care services in several states. The Verge ย  ๐ŸŒŽ Serbia Disregards US Sanctions on Bosnian Serbs. Serbian President Aleksandar Vucic said the sanctioned ethnic Serb officials from neighboring Bosnia will still be welcome in Serbia. AP ย  ๐ŸŒŽ Putin Bars 'Unfriendly' Foreigners from Russian Firms. Under the law, the rights of foreign investors from unfriendly countries โ€“ those that have imposed sanctions on Russia over its war in Ukraine โ€“ could be suspended, and their shares distributed among Russian owners. Reuters The leader in AI-driven fraud and AML risk detection ย  You're invited:ย Join our discussion this Wednesday at 10AM EST: The Cost of Ineffective PEP Categorization. Register today! IN THE NEWS Russia ย  ๐Ÿ‡ท๐Ÿ‡บ Niger's Junta Seeks Help from Russia's Wagner Group AP ย  ๐Ÿ‡ท๐Ÿ‡บ Putin-Linked Superyacht Refitted in Italy Fortune ย  ๐Ÿ‡ท๐Ÿ‡บ Russia Expects $11B Energy Boost Amid Embargos Oil Price ย  ๐Ÿ‡ท๐Ÿ‡บ UK Tracks Oligarch Spending; Assets at Risk Guardian China ย  ๐Ÿ‡จ๐Ÿ‡ณ Chinese Officials Under Intense Scrutiny, Dropping Like Flies Daily Beast ย  ๐Ÿ‡จ๐Ÿ‡ณ Huawei Ban May Cost German Rail โ‚ฌ400M Reuters ย  ๐Ÿ‡จ๐Ÿ‡ณ U.S.-China Strain Threatens 44-Year Science Pact Axios ย  ๐Ÿ‡จ๐Ÿ‡ณ TikTok Prepares for EU Digital Services Act Reuters Corruption & Financial Crime ย  ๐Ÿ’ฅ $9.3M Heist: Diamond Birkin Bag and Jewels Stolen in Spain NY Post ย  ๐Ÿ’ฅ Ex-PM Imran Khan Arrested on Corruption Charges AP ย  ๐Ÿ’ฅ Thieves Target Nike Air Jordans Cargo Insider ย  ๐Ÿ’ฅ Drahi Faces Investors Amid Graft Allegations AFP Crypto & Cyber ย  ๐Ÿ” $61M Curve Hack: Thief Begins Asset Return CoinDesk ย  ๐Ÿ” Revolut Halts U.S. Crypto Operations Amid Regulation CoinDesk ย  ๐Ÿ” Lifelong Profits from Phishing: A Warning Krebs on Security ย  ๐Ÿ” FBI Cautions Against "Drainer Smart Contracts" Ars Technica ๐Ÿ“ฉ Share Illicit Edge with friends! They can subscribe here for free and never miss a story. The Illicit Edge, P.O. Box 20559, New York, NY 10025 Manage preferences | | --- |