Trump’s Illegal $1.7 Billion Cash Grab

And other corruption scandals: A Contrarian Top 10 list

The Contrarian

US Financial Watchdogs Task Banks with Tracking Iranian Illicit Finance Networks

US financial watchdogs told banks to find and report Iranian illicit finance networks that use shell companies and crypto to hide money from oil sales.

#IranSanctions, #MoneyLaundering, #USBanks, #FinancialCrime, #TreasuryDept

https://newsletter.tf/us-banks-track-iranian-illicit-finance-networks/

US banks are now required to look for suspicious transactions linked to Iran's efforts to avoid economic sanctions. This is a new step to stop Iran from using money for harmful activities.

#IranSanctions, #MoneyLaundering, #USBanks, #FinancialCrime, #TreasuryDept
https://newsletter.tf/us-banks-track-iranian-illicit-finance-networks/

US Banks Must Watch for Iran's Money Laundering Networks

US financial watchdogs told banks to find and report Iranian illicit finance networks that use shell companies and crypto to hide money from oil sales.

NewsletterTF

US Treasury says it was hacked by China in 'major incident'

A Chinese state-sponsored hacker has broken into the US Treasury Department's systems, accessing employee workstations and some unclassified documents.

The Treasury Department said the China-based actor was able to override security via a key used by a third-party service provider called BeyondTrust

#BeyondTrust #china #chinese #TreasuryDept #security #cybersecurity #hackers #hacking #hacked

https://www.bbc.com/news/articles/c3weye2j0e7o

US Treasury says it was hacked by China in 'major incident' - BBC News

A Chinese state-sponsored hacker broke into the US Treasury Department's systems and accessed some unclassified documents.

BBC News

WaPo: Closing asset loophole could add billions to tax collections, #IRS says.

The #Biden administration plans to stop businesses and wealthy individuals from manipulating the value of assets in arcane ways such as using the same assets over and over again to lower their taxes.

#TreasuryDept #taxes #cheat #BasisShifting

Gift 🎁:
https://wapo.st/3RuU9mQ

Closing asset loophole could add billions to tax collections, IRS says

The Treasury Department plans to enact rules that would prevent certain large businesses from depreciating the same asset repeatedly.

The Washington Post
@digfish because #xiaomi isn't sanctioned by the #TreasuryDept but #Huawei is...

@bhawthorne @mhoye so it it actually practical as a #Payment system, because the people behind it actually designed it with that single goal in mind without being reliant on a single point of trust or failure.

And unlike #Bitcoin or #Ethereum one can't taint your account with illegal funds, which is so rampant since the #TornadoCash ban that even #TreasuryDept's #OFAC recognized "#Dusting" as digital equivalent of throwing feces at a restaurant's windows....

And this is so rampant that the #US #TreasuryDept had to issue an #FAQ statement [ https://ofac.treasury.gov/faqs/1078 ] following the #sanction of #TornadoCash [ https://home.treasury.gov/news/press-releases/jy0916 ]...

Basically the digital equivalent of forcing you to swallow blood diamonds wrapped in North Korean Won bills and then being sent through an X-Ray...

1078 | Office of Foreign Assets Control

Office of Foreign Assets Control | U.S. Department of the Treasury

@anirvan it's intentional and it's one of those arsenine things about the #USA:

Ain't #OFAC and #Sanctions the responsibility of #Federal institutions like #StateDept & #TreasuryDept?

Cuz that's just pushing inherent #racism and it's also ignoring the fact that some people may be #refugees or otherwise law-abiding citizens but since they can't renouce their citizenship [i.e. #Iran doesn't allow that - period!] they'll face that issue.