Happy Friday!  It’s February 16, and we’re tracking top stories to take you into the weekend: Russia sanctions architect returns to White House, federal regulators probe Cash App, $2.8B Iran sanctions hole, NatWest claws back bonuses from ex-staff over money laundering penalty, and much more...

Let's learn together.
Ask your friends to subscribe to Illicit Edge here!

Featured Story

🎯 Daleep Singh to return to White House. A key architect of the Biden administration's economic sanctions on Russia is rejoining the White House. Axios 

Top Stories

🌎 Federal regulators are probing whether Cash App leaves door open to money launderers, terrorists. The payment app, used by millions and celebrated by rappers, “had no effective procedure" to establish the true identity of customers. NBC

🌎 The $2.8B Hole in U.S. Sanctions on Iran. New investigation reveals how lax government oversight allowed shadowy oil tankers, covered by American insurance, to fund Iran’s regime. NYT

📌 Iran’s Rise as Global Arms Supplier Vexes U.S. and Its Allies WSJ

🌎 NatWest Claws Back Bonuses From Ex-Staff Over Laundering Penalty. NatWest is clawing back bonuses from ten former staff to address the “collective failure” that led to the firm’s 2021 money laundering conviction. Bloomberg

🚀 Announcing DiligenAI: Threat Digital introduces the first service to leverage LLMs for identifying and summarizing risk information on business relationships. Learn more! Promoted for Threat Digital.

🌎 Why Sanctions Haven’t hobbled Russia. Moscow’s continued strength is a humbling result for the U.S. and its allies. NYT

🌎 Seizing Russian assets: A feel good bill that will absolutely boomerang. A Senate measure under consideration would breed contempt and prolong the war in Ukraine. Responsible Statecraft

🌎 HK customs arrests 7 in a $1.8B money laundering case linked to transnational crime. The accused were part of a large-scale syndicate that used various shell companies and bank accounts under the guise of international businesses. AP

🚩 Cease and Desist Order against Blue Ridge Bank OCC

🌎 Trump’s New York hush-money case will start March 25. A judge in New York dismissed the last obstacle to the first-ever criminal trial of a former president. CNN

🌎 Shameful Biden tries to reward Hamas terror with a Palestinian state. The PA is a corrupt entity, which siphons off international funds to impoverish the Palestinian people and make the leadership rich. NYP

🚩 OFAC SDN List Update: Counter Terrorism Designation, General License, Compliance Guidance, etc. U.S. Treasury

🌎 NY Mag’s Financial Columnist Scammed Out of $50K in Elaborate Con. I never thought I was the kind of person to fall for a scam. NY Mag

📌 ‘AI Girlfriends’ Are a Privacy Nightmare Wired

🌎 Former FBI informant charged with lying about the Bidens’ role in Ukraine business. Alexander Smirnov is facing charges in connection with lying to the FBI and creating false records. CNN

🌎 Kevin Morris, Hunter Biden’s $6.5M Patron, Draws Fire From All Sides. No one has been more influential in helping Hunter Biden rebuild his life after a devastating battle with addiction. NYT

💥 Visit Illicit Edge for more news! 💥  

IN THE NEWS

Russia

🇷🇺 How Latvia became the whisky hookup for sanction-hit Russia DW

🇷🇺 Russia Using Thousands of Musk’s Starlink Systems in War WSJ

🇷🇺 US Justice Department says it disrupted Russian intelligence hacking network Reuters

🇷🇺 How Russia Recruits Soldiers From Cuba to Fight in Ukraine WSJ

--

China

🇨🇳 China Rubicon Report – The Institutional Investors & Funds financing the rise of technology innovation in China and other adversarial autocracies. Future Union

🇨🇳 Rubio urges SEC to block Shein IPO unless China operating risk disclosed Reuters

🇨🇳 China-based propaganda accounts flourish on X as others try to curb them WaPo

🇨🇳 Lawmakers Move To Let US Ally Claim China's Artificial Islands Newsweek

--

Corruption & Financial Crime

💸 CIA Had Foreign Allies Spy On Trump Team, Triggering Russia Collusion Hoax Matt Taibbi

💸 Wells Fargo says regulator has lifted a key penalty tied to its 2016 fake accounts scandal CNBC

💸 Stark’s Ex-Chairman Has $69M of Assets Seized by Thailand Bloomberg

💸 India’s main opposition party says tax authorities have frozen its funds CNN

💸 FBI raid two NY fire chiefs homes as part of sweeping bribery probe Daily Mail

💸 Prosecutors seek prison term for former biathlon boss on last day of corruption trial in Norway AP

--

Crypto & Cyber

🔐 U.S. conducted cyberattack on suspected Iranian spy ship NBC

🔐 Craig Wright Trial Includes Ninja Anecdote Cited as Proof He's Bitcoin Creator Satoshi CoinDesk

🔐 Crypto laundering evolves with Lazarus Group’s bridge tactics Cointelegraph

🔐 SBF’s Sentence Might Be Lighter Than You’d Expect CoinDesk

🔐 LockBit claims cyberattack on Indian broker Motilal Oswal TechCrunch

🔐 U.S. State Government Network Breached via Former Employee’s Account Hacker News

--

Trafficking

🚚 Border Patrol’s acting deputy chief suspended for alleged misconduct WaPo

🚚 Gang wars shock EU’s capital as record amount of cocaine seized in Europe Independent

🚚 U.S. charges suspected Mexican drug lord Zambada with fentanyl crimes DOJ

🚚 Officers looking for missing fishermen instead find "narco sub" loaded with 4 tons of cocaine CBS

🚚 A 19-Year-Old Died After Taking 'Gas Station Heroin'. His Mom Wonders Why It's Still Being Sold Legally. VICE

"Start where you are. Use what you have. Do what you can."
--Arthur Ashe

📩

Share Illicit Edge with friends!

They can subscribe here for free and never miss a story.