Plus: Who funds Hamas? Global network of crypto, cash, and charities revealed...
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10/16/23

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Breaking News for Financial Crime Professionals

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Happy Monday!  It's October 16, and we’re tracking top stories to start your week: U.S. cracks down on China chip exports, the trading tycoon steering Russia's oil business, how Sweden became a gangland hell, who funds Hamas, and much more...

 

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Featured Story

 

🎯 US tackles loopholes in curbs on AI chip exports to China. The U.S. will take steps to prevent American chipmakers from selling semiconductors to China that circumvent government restrictions. Bloomberg 

 

Top Stories

 

🌎 The Trading Tycoon Steering Russia’s Global Oil Business. Most of Lakhani’s Russia-related operations take place in countries not implementing the G-7’s price cap on exports, designed to block oil sold above $60 from critical Western-provided services such as shipping insurance. Bloomberg

 

🌎 Executions, bombings & child assassins. How Sweden became a gangland hell ruled by druglords Kurdish Fox & The Greek. Sun

 

🌎 Who funds Hamas? A global network of crypto, cash and charities. Hamas, sanctioned as a terrorist organization by the US and UK, has increasingly uses cryptocurrencies, credit cards or contrived trade deals to avoid mounting international restriction. Reuters

 

🌎 Former Bank of China boss arrested on bribery charges. The 62-year-old is one of the most senior bankers to be ensnared in President Xi Jinping's anti-corruption probe into China's $60 trillion financial sector. BBC

 

🌎 Why sanctions to punish China and Russia keep failing to achieve US goals. The way U.S. sanctions are applied deepens mistrust and creates avenues for partnerships outside of the U.S.-led global financial system. USA Today

 

🌎 New evidence may destroy Biden’s defense in his classified documents case. This month, the sudden appearance of Special Counsel Robert Hur caused as much of a stir as Bigfoot suddenly appearing on Pennsylvania Avenue. Hill

 

🌎 The Crypto Exchange Moving Money for Criminal Gangs, Rich Russians and a Hamas-Linked Terror Group. Garantex’s international pipeline helps defy Treasury sanctions by channeling rubles to crypto to dollars. Customers line up with bags of cash. WSJ

 

🌎 The Real Estate Tycoon Whose Fingerprints Are on the Menendez Indictment. Fred Daibes, the New Jersey real estate tycoon at the center of an international scandal threatening the career of Senator Robert Menendez, has found his way out of more than one tough spot over the course of his tumultuous life. NYT

 

🌎 US says North Korea delivered 1,000 containers of equipment and munitions to Russia for Ukraine war. White House spokesman John Kirby said that the U.S. believes Kim is seeking sophisticated Russian weapons technologies in return for the munitions to boost North Korea's military and nuclear program. AP

IN THE NEWS

Terror

 

🚨 FBI: Threats in U.S. rising after Hamas attack on Israel CBS News

 

🚨 Wall Street Journal reporters split over Iran story Semafor

 

🚨 Iran's arch-terrorist was architect of Hamas massacre of 1,300 people Fox News

 

🚨 How the Israel-Hamas War Is Tilting the Global Power Balance in Favor of Russia, China WSJ

China & Russia

 

💥 Taliban to join China's Belt and Road forum, elevating ties Reuters

 

💥 China's Surveillance Tech Setback in Ukraine Could Open Door for US Newsweek

 

💥 Fearing China, South Korea targets firms building Taiwan navy submarines Reuters

 

💥 As India frowns on paying for Russian oil with yuan, some payments held up Reuters

 

💥 List of Countries Putin Can Visit Without Fear Just Got Smaller Newsweek

Corruption & Financial Crime

 

💸 Altice Employees Raised Red Flags Years Before Corruption Probe Bloomberg

 

💸 How Trump’s Team Twisted His Bank Fraud Trial Into a Farce Daily Beast

 

💸 Banana fortune heir Daniel Noboa wins Ecuador presidential election Guardian

 

💸 The FBI, IARP and corruption in men's college basketball, explained ESPN

 

💸 The Nexus of Human Trafficking, Democracy, and Corruption CFR

Crypto & Cyber

 

🔐 How Elizabeth Warren is making Hamas crypto’s latest Washington woe Politico

 

🔐 The Path to AI Arms Control Foreign Affairs

 

🔐 California 'BitLicense' Bill Signed by Gov. Newsom CoinDesk

 

🔐 How hackers piled onto the Israeli-Hamas conflict Politico

"The road to perdition has ever been accompanied by lip service to an ideal." --Albert Einstein

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