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🎯 Fed penalizes Evolve Bank for failing to manage fintech partnership risk. The Federal Reserve ordered Evolve to bolster its AML and risk management programs. Reuters
Top Stories
🌎 FAA Investigating How Counterfeit Titanium Got Into Boeing and Airbus Jets. The material, which was purchased from a little-known Chinese company, was sold with falsified documents. NYT
🌎 Colombian traffickers find novel way to move millions in US cocaine sales via ATMs. Narco-traffickers have recruited Colombians to fly to Miami and set up phony businesses with corporate bank accounts. MH
🌎 Nigeria Drops Tax Charges Against Binance Executives. The executives, Tigran Gambaryan and Nadeem Anjarwalla, are still named in a money laundering case. CoinDesk
🌎 G7 agrees $50B loan for Ukraine from Russian assets. The money isn't expected until the end of the year but is seen as a longer term solution to support Ukraine. BBC
🇷🇺 Russians See Little Fallout After U.S. Sanctions Hit Dollar Exchange Trade Bloomberg
🌎 Executives From ADHD Startup Arrested, Charged With Fraud. Done founder and clinical leader arranged for the prescription of more than 40M stimulant pills and targeted drug seekers with deceptive advertising. WSJ
🌎 Iran installing and starting cascades of advanced centrifuges as tensions high over nuclear program. Iran already enriches uranium at near-weapons-grade levels and boasts a stockpile enough for several nuclear bombs. NBC
🌎 U.S. sanctions Israeli group for blocking Gaza aid. The Biden administration announced sanctions against the Israeli right wing organization Tzav 9. Axios
🌎 U.S. and Turkey are sanctioning ISIS-linked human smuggling group. Washington imposed sanctions on four individuals, three of whom were involved in the network. Reuters
🌎 Pentagon ran secret anti-vax campaign to undermine China during pandemic. The U.S. military’s anti-vax effort began in the spring of 2020 and expanded beyond Southeast Asia before it was terminated. Reuters
🌎 How Public Schools Became Ideological Boot Camps. In nearly every public school in the country, children are given curriculum materials that have no official oversight or approval. TFP
🌎 Mexican Tycoon’s Retail Chain Ordered to Pay $1B in Back Taxes. Companies owned by billionaire Ricardo Salinas Pliego are fighting in court over some $3B in disputed taxes. WSJ
🌎 No, Saudi Arabia isn’t ditching the dollar for Ripple in its oil trades. The reality is that almost all oil trade has been and will be priced in U.S. dollars for many years to come. Protos
🌎 U.S. Returns $156M Misappropriated 1MDB Funds to Malaysia. Looting of the 1MDB investment fund by officials in Malaysia after Goldman helped it raise money spawned a multibillion-dollar scandal. Bloomberg
📌 FinCEN Reminds Financial Institutions to Remain Vigilant to Elder Financial Exploitation FinCEN
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