Plus: Mormon Church Owns $2B of U.S. Farmland – More Acreage than Bill Gates and China Combined...
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12/26/23

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Breaking News for Financial Crime Professionals

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Hello!  It's December 26, and we’re tracking today's top stories: SocGen to sell stakes in Russian holdings to Rosbank, China steals AI secrets to supercharge spying, fentanyl super labs in Canada pose new threat, Mormon church owns $2B of U.S. farmland, and much more...

 

Illicit Edge is breaking news for financial crimes professionals.  Visit us any time for real-time updates!

Featured Story

 

🎯 SocGen to Sell Stakes in Russian Holdings to Potanin’s Rosbank. Potanin, Russia’s richest person, bought Societe Generale’s stake shortly after Russia sent its troops into Ukraine. Bloomberg

 

Top Stories

 

🌎 China Is Stealing AI Secrets to Turbocharge Spying. U.S. officials are worried about hacking and insider theft of AI secrets, which China has denied. WSJ

 

🌎 Fentanyl super labs in Canada pose new threat for U.S. opioid epidemic. At a rural property an hour outside Vancouver, Canadian police found 2.5 million doses of fentanyl and 528 gallons of chemicals. WaPo

 

🌎 Mormon church now owns $2B of US farmland, with more acreage than Bill Gates and China combined. Revelation comes amid growing scrutiny over church finances with some members unhappy with the way it is managing its fortune, believed to be up to $236B Daily Mail

 

🌎 Iran’s nuclear breakout: ’Twas the night before Armageddon. Tehran is confident that this White House will not take any meaningful kinetic action that would force Iran to change its calculus let alone trajectory in pursuit of becoming a nuclear power. NY Post

 

🌎 This NYU Student Owns a $6 Million Crypto Mine. His Secret Is Out. Yu, a 23-year-old student at New York University, has also become — quite unintentionally — a case study in how Chinese nationals can secretly move money from China to the U.S. NYT

 

🌎 The Crypto Queen Pulling the Strings at Binance. Yi He, a former talk-show host, has sweeping control over the crypto giant’s marketing and investment divisions. WSJ

 

🌎 Ukraine arrests senior Defense Ministry official accused of embezzling $40M. The SBU says the official signed an agreement with a special export company to purchase a wholesale batch of artillery shells in December last year. CNN

 

🌎 As Singapore Police Probe Money Laundering Ring, a Private Equity Entrepreneur Disappears. Su Binghai, an entrepreneur of Chinese origin, is a “person of interest” in an ongoing investigation into the laundering ring. OCCRP

 

🌎 China criticizes U.S. sanctions on Russia's Arctic LNG-2 project. The U.S. imposed sanctions on Artic LNG-2 in November as part of a package of sweeping new measures against Moscow over the war in Ukraine. Reuters

 

🌎 276 Indians stuck in a French airport for days for a human trafficking probe have left for India. The passengers had been heading to Nicaragua but were instead blocked inside a rural French airport in an exceptional holiday ordeal. NBC

IN THE NEWS

Russia

 

🇷🇺 Raiffeisen’s Russia Deal Leads to Exec Who Worked for Sanctioned Tycoon Bloomberg

 

🇷🇺 Bank of Russia Governor Says She Is Bracing for More Sanctions Bloomberg

 

🇷🇺 Taiwan expands Russian sanctions to stop tech being used for weapons Reuters

 

More news...

China

 

🇨🇳 How Xi Jinping is challenging dollar dominance with landmark Saudi deal Telegraph

 

🇨🇳 Microsoft’s cozy AI ties with China raise eyebrows on Capitol Hill NY Post

 

🇨🇳 US Bans Pentagon From Using Chinese Port Logistics Platform VOA

 

🇨🇳 Micron settles IP theft lawsuit with Chinese state-owned chipmaker Tom’s Hardware

 

More news...

Crypto & Cyber

 

🔐 Crypto’s 2023 was marred by fraud and scandal. It may have been its best year ever. CNN

 

🔐 Ubisoft apparently stopped a 900GB data breach Mashable 

 

🔐 Telcoin Suffers Apparent $1.2M Exploit Related to Wallet Implementation on Polygon CoinDesk

 

🔐 Nexo's Money Laundering Investigation in Bulgaria Closed Due to Lack of Evidence CoinDesk

 

More news...

Corruption & Financial Crime

 

💸 Customs officers in Cincinnati seize $6.9M in counterfeit designer brand jewelry CNN

 

💸 Georgia Businessman, Former Honduran Official, and Florida Resident Charged in International Bribery Scheme Hoodline

 

💸 Brazil’s federal police arrest top criminal leader Zinho after negotiations AP

 

💸 U.S. Engine Maker Will Pay $1.6B to Settle Claims of Emissions Cheating NYT

 

More news...

"It's easier to fool people than to convince them that they have been fooled." --Mark Twain

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