Featured Asia-Pacific

Australia’s Packer to face powerful Crown probe into alleged money laundering

The NSW inquiry into Crown Resorts’ casino operations will assume the powers of a royal commission to summon James Packer and Lawrence Ho to answer questions about alleged criminal behaviour and links to a banned casino operator. The inquiry – comprising five public hearings starting on February 24 – is the first… Read More

INX Media Case: Enforcement Directorate Questions Karti Chidambaram Again

Karti Chidambaram, son of former Union minister P Chidambaram, appeared before the Enforcement Directorate on Monday for questioning in the INX Media money-laundering case, officials said. The investigating officer of the case recorded the statement of Karti, a Congress Member of Parliament from Tamil Nadu’s Sivaganga, under the Prevention of… Read More

Internal Affairs probes second Auckland church over cryptocurrency links

The Department of Internal Affairs (DIA) is investigating an Auckland church with links to a multi-billion dollar cryptocurrency labelled a scam. It’s the second church to be investigated by the department involving the OneCoin scheme, whose leaders have been charged with fraud by US authorities. In New Zealand, according… Read More
20th January 2020
The Canadian extradition proceedings of Huawei Technologies chief financial officer Meng Wanzhou hinge on allegations she made a fraudulent presentation to HSBC in 2013 over the technology giant’s business ties in Iran, but recently revealed documents show the bank had been aware of Huawei’s business relationships in the Middle Eastern… Read More
16th January 2020
Eight years ago, Goldman Sachs Group Inc. bankers sold bonds on behalf of a little-known Malaysian investment fund. On Wednesday, the fallout from that deal wiped out about 13% of the bank’s 2019 profits and darkened otherwise strong results. Goldman socked away an extra $1.1 billion late last year… Read More
16th January 2020
Criminals have long turned to cryptocurrencies like Bitcoin to carry out crimes including ransomware and extortion. But as law enforcement has improved at tracking the semi-anonymous currencies, criminals have had to devise new tactics for turning ill-gotten crypto proceeds back into cash. In response, a… Read More
16th January 2020
United Nations sanctions experts are warning people not to attend a cryptocurrency conference in North Korea in February, flagging it as a likely sanctions violation, according to a confidential report due to be submitted to the U.N. Security Council later this month. The warning comes after the independent U.N. experts… Read More
16th January 2020
The Australian Transaction Reports and Analysis Centre (AUSTRAC) and the U.K. Gambling Commission (UKGC) announced that they have signed a memorandum of understanding (MoU) to share both regulatory and compliance information between the agencies. This agreement has been reached to help the agencies better fight organized crime organizations. In… Read More
15th January 2020
The U.S. blacklisted two companies, including a China-based firm, that it says are involved in exploiting North Korean workers in violation of United Nations prohibitions against labor exports. The U.N. banned North Korean labor exports as part of an effort to squeeze international revenues it says are used by the… Read More
15th January 2020
The former chairman of one of China’s bad banks has confessed to taking millions of yuan in bribes which he kept in metal cabinets in a Beijing apartment he nicknamed “the supermarket.” Lai Xiaomin, former head of China Huarong Asset Management Co., has been charged with taking bribes,… Read More
14th January 2020
India’s Supreme Court has allowed the federal anti-money laundering agency to seize assets of JPMorgan Chase & Co.’s India unit, if needed, for allegedly violating foreign investment rules, according to a lawyer who was part of the proceedings. The court had in July asked the Enforcement Directorate to probe… Read More
13th January 2020
Fresh sanction powers authorized by President Trump against Iran could squeeze the remaining trade and finance channels keeping the Iranian economy on life support by threatening those companies still doing business with the country. The U.S. on Friday levied more sanctions on Iran in response to ballistic-missile attacks against… Read More
10th January 2020
In December 2016, the Japanese Diet passed the integrated resorts promotion law, the first in a two-step legislative process to legalize casinos in Japan. Japan passed the promotion law shortly after the ruling Liberal Democratic Party (LDP) – the party of Prime Minister Shinzo Abe — won enough seats in… Read More