FirstFT: Kremlin-backed forgery scheme fooled global banks

Also in today’s newsletter: Polymarket’s European overture and Merz’s woes

The top 3

  1. Kremlin-Linked Forgery Scheme Targeting Global Banks: A sophisticated forgery operation backed by Russian state actors utilized falsified financial documents to deceive major global banks, marking a significant escalation in state-sponsored financial subversion.
  2. Top 3 Largest Sanctions-Related Banking Fines in History: While banking forgery is dangerous, state-sponsored sanctions evasion has led to record-breaking historical penalties imposed by US and European regulators.
  3. Three Methods of State-Sponsored Financial Subversion: Nations under heavy economic pressure frequently employ these distinct strategies to bypass international financial controls and maintain state liquidity.

Sources

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