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Western Companies in Hong Kong Activate Contingency Plans as Turmoil Spreads

Western companies with large operations in Hong Kong are activating plans for employees to work remotely, and considering how to respond to a variety of possible scenarios, as protests and police actions in the city become more widespread and unpredictable. On Tuesday, as protesters disrupted Hong Kong’s airport… Read More

Portugal’s golden visa programme ‘swamped’ by inquiries from Hongkongers seeking alternative residence and a safe haven

Inquiries from Hongkongers about property in Portugal, the homeland of football superstar Cristiano Ronaldo, have seen an upswing in recent months as wealthy residents and investors clamour for an alternative residency amid escalating political tensions in the city, analysts said. Since its unveiling in 2012, Lisbon’s golden visa scheme has… Read More

The Star casino roped into Crown controversy over links to junkets

An Asian money launderer used a Star Entertainment casino account in Sydney to send more than $400,000 offshore in a transaction tracked by Australian Federal Police investigators. The money was destined for Macau multi-millionaire casino tycoon, Alvin Chau, whose high-roller travel business, known as a junket, is licensed and paid… Read More

9th August 2019

Pakistan Wants China’s Help to Skirt Terror-Financing Blacklist

Pakistan is looking to China and two other developing nations for support in avoiding tough financial sanctions, amid signs it is running out of time to meet global anti-money laundering and counter-terrorism financing standards, according to people familiar with the matter. The government in Islamabad expects it will fail to… Read More

7th August 2019

Queen’s student ‘paid £300’ in £16m Belfast money laundering operation, court told

A university student appeared in court accused of being connected to a £16million money laundering operation centred at a bank in Belfast. Gengqi Wang is the 12th person to be charged by detectives investigating an alleged cash deposit racket run by a Chinese crime gang. On Tuesday a judge was… Read More

6th August 2019

Crown investment companies were used to launder drug funds, authorities believe

Drug traffickers have used two private companies which were set up by Crown Resorts with Crown executives as directors to bank suspected proceeds of crime, federal investigations have alleged. Investigators traced money from a number of suspected or convicted drug traffickers and money launderers flowing into the bank accounts of… Read More

6th August 2019

China may halt French police cooperation over Interpol case: source

Chinese officials are threatening to stop all police cooperation with France after it gave political asylum to the wife of the former Interpol chief, a Chinese national now languishing in prison on charges of bribery, a French source close to the matter said Monday. “There hasn’t been any official request… Read More

6th August 2019

HSBC boss John Flint resigns ‘by mutual agreement’

HSBC has unexpectedly parted ways with its chief executive, John Flint, less than 18 months after his appointment and said it could cut nearly 5,000 jobs due to a weaker outlook. The bank, which has its headquarters in the UK, was vague over the cause of Flint’s departure, saying… Read More

5th August 2019

Defying U.S. Sanctions, China and Others Take Oil From 12 Iranian Tankers

China and other countries are receiving oil shipments from a larger number of Iranian tankers than was previously known, defying sanctions imposed by the United States to choke off Tehran’s main source of income, an investigation by The New York Times has found. The Times examined the movements of more… Read More

2nd August 2019

China’s ex-‘super bank’ chief faces probe as Beijing’s financial sector corruption crackdown continues

The former chairman of a state lender known as “Beijing’s super bank” is being investigated for “a serious disciplinary violation”, according to a statement from the Communist Party’s enforcement agency on Wednesday. Hu Huaibang, who was chairman of China Development Bank (CDB) for more than five years until his retirement… Read More

1st August 2019

Chinese aluminium tycoon Liu Zhongtian indicted in US over tariff evasion of US$1.8 billion

Chinese aluminium billionaire Liu Zhongtian has been indicted in the US on allegations that he evaded US$1.8 billion in American tariffs, using a complex scheme that supposedly smuggled vast quantities of the metal into the US using a series of firms that he secretly controlled. Liu, China Zhongwang Holdings and… Read More

1st August 2019

‘More teeth than Jaws’: Jacqui Lambie considers ultimatum over stronger integrity commission

The Tasmanian independent Jacqui Lambie says she will consider telling the Morrison government “where to stick their bills” if the Coalition continues to pursue a suboptimal federal integrity commission. Lambie made the threat during a show of unity by parliamentary crossbenchers on Wednesday about the necessity… Read More

31st July 2019

In first, U.S. appeals court upholds contempt fines against three Chinese banks in North Korean sanctions probe

A U.S. appeals court on Tuesday ordered heavy contempt fines to begin against three large Chinese banks locked in a battle over customer financial records with U.S. prosecutors investigating possible North Korean sanctions violations. It remained unclear whether the firms, unnamed in court papers but previously reported to be… Read More

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