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title: SAP Bribes, Fujitsu Sanctions, and Russian Assets
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Plus: Conwoman Steals $100M from Army Youth Program for Mansions and Supercars...

| View in browser 1/11/24 Breaking News for Financial Crime Professionals Hello!  It's January 11, and we’re tracking today's top stories: SAP to pay more than $230M to settle bribery charges, UK targets Fujitsu amid post office scandal, Biden supports seizing Russian assets, San Antonio woman accused of stealing $100M from U.S. Army, and much more...    🚀 Together, we learn more about financial crime risk. Invite a friend to join our newsletter community! Featured Story   🎯 SAP to pay more than $230M to settle bribery charges. Federal prosecutors accused SAP of violating the FCPA to bribe government officials in Indonesia and South Africa. CNBC    Top Stories   🌎 UK government urged to review £2bn in Fujitsu contracts amid Horizon scandal. Japanese company’s Horizon IT system caused accounting errors that were blamed on post office operators. Guardian   🌎 White House Throws Support Behind Seizing Frozen Russian Assets. President Biden is backing legislation that would let it seize some of $300B in frozen Russian assets to help pay for reconstruction of Ukraine. Bloomberg   🚩 OFAC SDN List Update: Russia-related Designations and more U.S. Treasury   🌎 IRS flagged San Antonio woman accused of stealing $100M from Army. A millionaire conwoman swindled the US Army out of $100M over six years by putting cash into her fake military youth business and splurging on 31 homes and 70 supercars. San Antonio Express   🌎 Kleptocrats in democracy’s clothing: Beijing and Moscow talk anti-corruption at the UN. Redefining terms like anti-corruption, human rights, democracy, and integrity — even when self-evidently disingenuous — provides China the cover to mimic the mechanisms of good governance. Euronews   📌 Client Alert: FinCEN Launches Beneficial Ownership Information Registry Winston & Strawn   🌎 Russia finds way around sanctions on battlefield tech. That doesn’t mean sanctions have failed; they just need to be enforced better — including by requiring Western companies to track their own products. Politico   🌎 Federal prosecutor in NY issues call for whistleblowers in bid to unearth corruption. U.S. Attorney Damian Williams, who presides over one of the largest and busiest offices of prosecutors in the nation in Manhattan, issued a casting call for whistleblowers. AP   🌎 How Lloyd Austin’s Deputy Ended Up Running the Pentagon From the Beach. Miscommunication and culture of secrecy contributed to keeping even the president in the dark for several days. WSJ   🌎 The mafias that control Ecuador from inside their prison cells. Gangs are running profitable businesses inside the correctional facilities, and even have keys to their own units. El País   🌎 Republicans Are Making ‘Dark Money’ Even Darker for 2024. A dark money group basically told the FEC to screw off when it demanded to see its donors. Daily Beast IN THE NEWS Russia   🇷🇺 How Russian officials and their collaborators spirit away Ukraine’s children Reuters   🇷🇺 Russia’s 2023 Oil and Gas Revenue Curbed by Sanctions, Cheaper Crude Bloomberg   🇷🇺 'Explosive' new attack drone developed by Iran for Russia's war in Ukraine Sky   🇷🇺 How a Swiss Art Dealer Bought and Sold Da Vinci’s $450M Salvator Mundi Painting to Russian Oligarch Art News   MORE TOP STORIES... Corruption & Financial Crime   💸 Englishman who posed as HyperVerse CEO says sorry to investors who lost millions Guardian   💸 Engine maker Cummins to repair 600,000 Ram trucks in $2B emissions cheating scandal AP   💸 Can Guatemala’s new president turn the tide on years of corruption? Guardian   💸 Portugal delaying fight against graft, watchdog says, amid new concerns Reuters   MORE TOP STORIES... China   🇨🇳 Suspected Chinese hackers target US research organization in latest spying spree CNN   🇨🇳 Chinese migrants lured to Oklahoma are victims of labor, sex trafficking SCMP   🇨🇳 China raises concerns with US over chip-making export controls, sanctions Reuters   MORE TOP STORIES... Crypto & Cyber   🔐 X blames SEC for account takeover as commission begins investigation Record   🔐 Crooks pose as researchers to retarget ransomware victims SC Media   🔐 FINRA adds crypto assets section to its annual oversight report Cointelegraph   🔐 Linux devices are under attack by a never-before-seen worm Ars   MORE TOP STORIES... Trafficking   🚚 Car carrying high school students, 35 kilos of meth stopped at border Border Report   🚚 Hotels in human trafficking lawsuits face second bid for case consolidation Reuters   🚚 Over a ton of cocaine worth $32 million seized by US Coast Guard near Florida ABC   🚚 ‘Gas-Station Heroin’ Sold as Dietary Supplement Alarms Health Officials NYT "I'm afraid that if you look at a thing long enough, it loses all of its meaning." --Andy Warhol 📩 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 |
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