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Greetings! It’s October 16, and we’re tracking today’s top stories: FATF considers Russia blacklist, TD execs who presided over massive fraud walk free, Singapore seeks to jail OK Lim for 20 years for cheating HSBC, U.S. regulators struggle to update AML laws to meet financial crime threats, and much more… 

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Featured Story

🌎 Global money laundering body to consider blacklisting Russia. Lowering Russia’s ranking requires consensus from FATF’s multilateral membership. Politico

🇷🇺 Russia Is Willing to Let Ruble Weaken to Ease Sanctions Pain Bloomberg

Watch or Listen!
Elaine Dezenski breaks down emerging threats with Juan Zarate on launch episode of Coercive Capital.

Top Stories

🌎 TD Bank execs presided over rampant money laundering, but no one is going to jail, for now. While more charges could be forthcoming, the outcome of the TD scandal stands in stark contrast to the Binance case a year ago. Fortune 

🌎 Singapore Seeks to Jail OK Lim for 20 Years for Cheating HSBC. Hin Leong’s case has tarnished Singapore’s hard-earned reputation as a leading hub for energy trading and financing. Bloomberg 

🌎 U.S. AML Law Are Outdated. Regulators Are Struggling With How to Modernize Them. TD Bank’s $3B settlement over AML failures has underscored the difficulty banks have in preventing financial crimes. WSJ 

🐖 What is Pig Butchering? Illicit Edge

🌎 How Hamas Infiltrated Europe. The terrorist group has built an extensive network of activists who fund its activities and sow anti-Israel hatred across the continent. Free Press

🚩 Pro-Hamas group that helped organize college protests is a sham charity NBC 

🌎 Treasury Targets Hizballah and Syrian Captagon Trafficking. Hizballah’s finance team runs commercial projects throughout Lebanon. U.S. Treasury 

🚩 Britain issues sanctions targeting Israeli settler violence in the occupied West Bank UPI

🌎 The Time Is Right for Ally-Shoring, and It’s About More Than Being Friends. As the global economy realigns, the next U.S. president should formalize a liberal economic bloc of allied countries. CFR

🌎 New Sanctions Monitoring Team To Track North Korea's Violations. Eleven countries, including South Korea, the U.S., and Japan, will launch a new joint mechanism to monitor violations. AFP

🌎 In the heartland of Mexico’s Sinaloa cartel, the old ways have changed. Cellphone chats have become death sentences in the continuing, bloody factional war inside Mexico’s Sinaloa drug cartel. AP 

📌 FinCEN Renews Real Estate Geographic Targeting Orders FinCEN

Russia

🇷🇺 Spain arrests 4 for shipping precursors for chemical weapons to Russia CBS

🇷🇺 EU Gas Firms Warned Over Seeking ‘Dangerous’ Russia Transit Deal Bloomberg 

🇷🇺 How Saudi Oil Policies Could Cripple Russia’s War Effort Oil Price 

🇷🇺 Russian Non-Profit Interferes in Moldova’s EU Referendum OCCRP

China

🇨🇳 US adds three Chinese companies to 'Unverified List' Reuters

🇨🇳 How the U.S. Is Trying to Challenge China’s Cobalt Chokehold WSJ

🇨🇳 Chinese cyber association calls for review of Intel products sold in China Reuters

🇨🇳 UK Fears Chinese Hackers Compromised Critical Infrastructure Bloomberg

🇨🇳 China-Led Regional Group Calls for Countering Sanctions Reuters

Corruption & Financial Crime

💸 Lufthansa fined a record $4M for denying boarding to 128 Jews CNN 

💸 Cambodia’s Billion Dollar Scam The Dial

💸 Fake vintage wine gang busted in France and Italy BBC 

💸 Mexico’s former public security chief set to be sentenced in US drug case AP

💸 Man sentenced to 12 years for stealing $40M in Feeding Our Future fraud CBS

Crypto & Cyber

🔐 Crime and crypto: Concrete steps to address money laundering a16zcrypto 

🔐 US Seeks 5-Year Sentence for Ilya Lichtenstein, Orchestrator of $6B Bitfinex Hack Crypto News 

🔐 Fake AI History Photos Cloud The Past AFP

“Fear is the path to the dark side.” —Yoda

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