Featured Asia-Pacific

US moves to seize $330m of alleged 1MDB assets held by UK law firm

The US Department of Justice (DoJ) has moved to seize $330m (£256m) held in the bank account of a major London law firm which prosecutors allege is derived from the proceeds of one of the world’s largest financial frauds. The DoJ has filed civil forfeiture proceedings against funds… Read More

China-backed hackers broke into 100 firms and agencies, U.S. says

The Justice Department said on Wednesday that a group of hackers associated with China’s main intelligence service had infiltrated more than 100 companies and organizations around the world to steal intelligence, hijack their networks and extort their victims. The United States government presented the allegations in a set of three… Read More

U.S. threatens sanctions for arms sales to Iran

The Trump administration threatened Wednesday to impose an array of fresh sanctions to deter China and Russia from selling weapons to Iran after an arms embargo on Washington’s Middle East foe expires next month. Elliott Abrams, the administration’s special envoy for Iran and Venezuela, told reporters that the sanctions “will… Read More
17th September 2020
Authorities have detected an increase in financial transactions linked to the online sexual exploitation of children in the country in recent months as the economic challenges brought about the coronavirus pandemic drove more people into child pornography. Thus said the Anti-Money Laundering Council in a study it released on Wednesday,… Read More
17th September 2020
Las Vegas Sands Corp.’s Singapore casino has hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers’ money to third parties, according to people familiar with the matter. Davinder Singh Chambers LLC, which specializes in dispute resolution and international arbitration,… Read More
17th September 2020
With a goatee beard and an impish demeanor, 33-year-old Chen Zhi makes for an unlikely “oknha,” the honorific title bestowed on businessmen who donate at least $500,000 to public works approved by the ruling Cambodian People’s Party. Such sums are pocket change to the likes of Chen, one of a… Read More
17th September 2020
The U.S. Treasury on Tuesday imposed sanctions on China’s Union Development Group, the company behind the controversial Dara Sakor tourism development on Cambodia’s coast. The Treasury’s stated reason was that UDG intimidated and evicted families from their homes on the company’s 45,000 hectare concession to make way for the development… Read More
17th September 2020
Hundreds of Australian people smugglers, fraudsters, drug kingpins and a former Macquarie banker jailed for dealing ecstasy are named on a leaked Chinese database, pointing to Beijing’s use of organised crime figures for gathering intelligence and running foreign interference operations. The database compiled by military contractor China Zhenhua, revealed by The… Read More
16th September 2020
Money launderers are exploiting some of China’s top online shopping websites to transfer billions of dollars to offshore gambling companies, the Financial Times reported Wednesday. Individuals seeking to circumvent the nation’s capital flight restrictions, including to gamble online, have been placing fake orders on Pinduoduo and other Chinese shopping… Read More
16th September 2020
The Australian arm of a global bank is the latest financial institution to be fined for breaching anti-money laundering laws. The US-based State Street bank has been hit with a $1.24 million infringement notice for failing to declare international transfer instructions that potentially left it exposed to organised crime, terrorism,… Read More
16th September 2020
A Japanese cryptocurrency exchange that suffered from a $60 million hack in 2018 is suing Binance for “aiding and abetting” the laundering of some of the stolen funds. According to a complaint filed by Fisco in the Northern California District Court on Sept. 14, the Japanese exchange alleged that soon… Read More
16th September 2020
By Will Neal, OCCRP, 14 September 2020 OCCRP – Prosecutors in the United States have indicted three people on charges of bank fraud and money laundering related to an alleged conspiracy to violate sanctions against North Korea. According to an affidavit filed on Monday in Washington, D.C., Ri… Read More
16th September 2020
Sources told Deccan Chronicle that close to thirty lakh bank accounts across India are beneficiaries of the companies involved in the online gaming fraud, headquartered in China, to which payments, ranging from a few thousands to lakhs of rupees were made, after defrauding them of 10 times more than the… Read More