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Scam Surge, Terror Ties, and Fool’s Gold
Illicit Edge - Edition for October 23, 2026
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Hello, Friday! It’s October 23, and we’re tracking top stories to take you into the weekend: Fraud losses among older Americans hit $3 billion in 2025 as big losses surge, Berkeley Public Schools Raised Money for Group With Ties to Palestinian Terror Outfit, Norwegians Leave Gold in Forest as Some Fall for Scam, The Case for Economic Espionage, and much more…
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Breaking News for FinCrime Professionals
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🎯 FEATURED STORY
Fraud losses among older Americans hit $3 billion in 2025 as big losses surge. The rising losses come as scammers increasingly target Americans’ life savings by impersonating banks, businesses and government agencies. CNBC
🔥 TOP STORIES
Berkeley Public Schools Raised Money for Group With ‘Fiscal and Personnel Ties’ to Palestinian Terror Outfit Free Beacon
Norwegians Leave Gold in Forest as Some Fall for Scam Bloomberg
The Case for Economic Espionage: America Should Spy On Foreign Companies to Help Its Own Foreign Affairs
Jared Kushner pushes back on report involving hacked phone, spies, billion-dollar transfer CBS News
Quest Diagnostics reports cyber breach affecting ‘certain patient records’ Associated Press
Feds bust $2B medical fraud rings secretly operating in California -- as agents seen scaling rich doctor’s mega mansion New York Post
Virginia state Sen. L. Louise Lucas indicted on drug and money laundering charges CNN
Feds Target Worldwide Money Laundering Operation Court Watch
Unvetted AI agents are accessing U.S. bank accounts Axios
German regulator revokes license of Bank Saderat Iran in Hamburg Reuters
Ecuadorean opposition leader Gonzalez arrested over alleged irregularities in campaign financing Reuters
Hegseth bans DoD personnel from using nonpublic info to bet on U.S. military operations CBS News
Cybercrime crackdown across Africa leads to 1,462 arrests, $105 million seized Record
From Flights to ‘Incentives,’ Indonesian Nickel Giant Harita Approved Payments for Local Politicians and Leaders OCCRP
US Treasury drops Venezuela from countries facing outbound US investment restrictions Reuters
IN THE NEWS
🚩 RUSSIA & CHINA
Putin sends fishing trawlers to spy on Britain Telegraph
US blocks two devices with Chinese-made surveillance chips Reuters
As the Kremlin Seizes Control of European Companies, U.S. Rivals Remain Largely Spared Reuters
EU mulls sanctions reprieve for Chinese fabric-maker accused of aiding Russia South China Morning Post
Taiwan probes organized crime links to China’s ‘transnational repression’ Reuters
Russian operatives likely spread fake videos targeting the Texas Senate race NBC News
The ice cream shop that makes money when it's cold
28 Wishes sells ice cream in Los Angeles. Below 70°F, sales fall about 20%. The weather is out of their hands. Rent isn't.
So the owners started putting about $20 a day into Kalshi weather markets, taking the cold side. The days that keep customers away now pay something back.
This is hedging. Big companies have done it for decades, buying protection against bad weather, fuel spikes and rising rates. It used to take a broker, a trading desk, and an order size no corner shop could meet.
Kalshi opens it up. Contracts on weather, fuel prices, inflation, tariffs and regulation, starting at a few dollars. Take a position on the outcome that would hurt you. If it hits, the payout softens it. If it doesn't, the contract expires and the good month was the point.
🚀 SANCTIONS & TERROR
Additional Visa Restrictions on Colombian Individuals to Defend Our Hemisphere Against Corruption and Narcotrafficking U.S. State Department
Greece says it is implementing sanctions linked to Iran Reuters
Iran’s Fleet of Shadow Tankers Has Run Out of Oil After Monthslong U.S. Blockade Wall Street Journal
Hezbollah recruiting Brazilian criminals to launch terror attacks against Latin American Jews and Israelis i24NEWS
EU Sanctions Envoy Pushes for Action Against Rusal’s Irish Alumina Refinery OCCRP
💸 CORRUPTION & FINANCIAL CRIME
New York woman sentenced to 9 years in prison in Charlotte-based Chinese money laundering case NBC News
Justice Department investigating Republican operative Corey Lewandowski over alleged contract misconduct at DHS, sources say CNN
Utah Wants Millions From ‘Back-Alley Gambling Den’ Kalshi for Allegedly Running Illegal Gambling Business Gizmodo
DOJ reaffirms plans to retry DC Council member Trayon White after bribery mistrial FOX
The US is letting a convicted Bolsonaro spy chief stay in Florida. Brazil wants answers. ICIJ
🔐 CRYPTO & CYBER
Irish central bank fines Coinbase unit €3.25 million Reuters
Crypto shareholder sues Trump, family-backed crypto venture Politico
Microsoft blames ConnectWise attacks on Chinese state hacker using ARTEX AI agents Record
Developer platform Railway urges ‘all users’ to revoke secret keys after cyberattack TechCrunch
Hackers Exploited the PHP Vulnerabilities Days Before They Were Patched Wired
🚚 TRAFFICKING
Cartel Commander Charged with International Cocaine and Methamphetamine Trafficking Conspiracy and Firearm Offenses DOJ
Smugglers Collected Up to $509M on Europe Routes in 2025 OCCRP
Myanmar’s Shan State Is a Meth Lab Foreign Policy
China still shipping fentanyl precursors to Mexican cartels Washington Times
SF records first death from potent new opioid found in smoke shops San Francisco Chronicle
HAVE A GREAT WEEKEND!
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