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12/1/23

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Breaking News for Financial Crime Professionals

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Happy Friday!  It's December 1, and weโ€™re tracking top stories to take you into the weekend: U.S. fines PwC $7M over audit exam cheating in China, Putin seizes rights to St. Petersburg airport, Montana blocked from banning TikTok, Apple zero-day alert, five industry reports, and much more...

 

๐Ÿš€ Together, we learn more about financial crime risk. Invite a friend to join our newsletter community.

Featured Story

 

๐ŸŽฏ U.S. fines PwC $7M for allowing cheating on audit exams in China. The PCAOB said the practice was widespread, involving more than 1,000 employees from PwC Hong Kong, and hundreds more from PwC China. CNN   

 

Top Stories

 

๐ŸŒŽ Putin Seizes Rights to St. Petersburg Airport From Foreign Investors. Under a decree published late Thursday, shareholdings in the Cyprus-registered concession that runs the airport of Russiaโ€™s second-largest city will be consolidated in a new domestic company. Bloomberg

 

๐ŸŒŽ US judge blocks Montana from banning TikTok use in state. Montanaโ€™s first-in-the-nation ban on TikTok blocked by judge who says itโ€™s unconstitutional AP

 

๐Ÿ“Œ Top 10 Reasons to Ban TikTok in the U.S. Illicit Edge

 

๐ŸŒŽ Apple fixes two new iOS zero-days in emergency updates. This comes days after Google shipped fixes for a high-severity flaw in Chrome that has also come under real-world attacks. Bleepingcomputer

 

๐ŸŒŽ The last days of Hamasโ€™ office in Qatar? After Hamas releases all of its hostages, the Biden administration will consider demanding that Qatar shutter the terror group's office in the country. Politico

 

๐Ÿ“Œ Country Reports on Terrorism 2022 U.S. State Department

 

๐ŸŒŽ India Probes Criminal-Terrorist Nexus to Protect Ties With US. India has constituted a high-level committee to investigate inputs shared by the US over a nexus between organized criminals, gun runners, and terrorists Bloomberg

 

๐ŸŒŽ Russian and Chinese interference networks are โ€˜building audiencesโ€™ ahead of 2024. Meta released findings on three separate influence operations โ€“ and set out the challenges posted by generative AI. Record

 

๐ŸŒŽ House passes bill to permanently freeze $6B in Iranian funds. The Senate has introduced similar legislation to freeze the Iranian funds but has yet to pass it out of committee. Hill

 

๐ŸŒŽ US lawmakers seek probe of Chinese drone maker Autel Robotics. Autel Robotics is openly affiliated with China's Peopleโ€™s Liberation Army and poses a direct threat to U.S. national security Reuters

IN THE NEWS

Russia & China

 

๐Ÿ’ฅ EU states push against 'no Russia clause' in sanctions package Reuters

 

๐Ÿ’ฅ How Chinese Marijuana Operations Cropped Up in Small-Town America WSJ

 

๐Ÿ’ฅ EU set to push Xi Jinping to stop Chinese firms getting around sanctions on Russia SCMP

 

More news...

Sanctions

 

๐Ÿšจ Treasury Imposes Additional Price Cap-Related Sanctions U.S. Treasury

 

๐Ÿšจ U.S. to impose visa bans soon on Israeli extremist settlers for West Bank violence AFP

 

๐Ÿšจ Treasury Targets DPRKโ€™s International Agents and Illicit Cyber Intrusion Group U.S. Treasury

 

๐Ÿšจ Treasury Takes Third Action Against CJNG Timeshare Fraud Network U.S. Treasury

 

๐Ÿšจ Barred Venezuela Candidates Can Take Cases to Tribunal Reuters

 

More news...

Corruption & Financial Crime

 

๐Ÿ’ธ After deception and drama, George Santos faces expulsion from Congress CNN

 

๐Ÿ’ธ Man Charged in $148M Medicare and Medicaid Fraud Scheme DOJ

 

๐Ÿ’ธ Syrians lead push to create global chemical weapons tribunal Reuters

 

More news...

Crypto & Cyber

 

๐Ÿ” How the Winkleviiโ€™s Second Act Went Bad NY Magazine

 

๐Ÿ” U.S. stops helping Big Tech spot foreign meddling amid GOP legal threats WaPo

 

๐Ÿ” Polygon's Secret Deal: Sending DraftKings Millions to Run Failed Validator CoinDesk

 

More news...

Reports

 

๐Ÿ“˜ Crypto Country: North Koreaโ€™s Targeting of Cryptocurrency Recorded Future

 

๐Ÿ“˜ An Autocratic Opening: Russian, Chinese, and Iranian Messengers Capitalize on the Israel-Hamas War GMF

 

๐Ÿ“˜ Fractured Veins: The Worldโ€™s Reliance On Minerals From the Uyghur Region C4ADS

 

๐Ÿ“˜ South Africa Mutual Evaluation FATF

 

๐Ÿ“˜ Measuring Organized Crime Global Initiative

"No foreign policy - no matter how ingenious - has any chance of success if it is born in the minds of a few and carried in the hearts of none." --Henry Kissinger

๐Ÿ“ฉ

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