China

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

Featured China

Kyrgyz MP Calls on Gov’t to Investigate Money Laundering Allegations

A member of the Kyrgyzstan Parliament is proposing further government investigation following reports by OCCRP and its media partners that the country has harbored money laundering that is worth hundreds of millions of dollars and has cost the lives of currency couriers crossing its borders. Maksat Sabirov on Thursday… Read More

The Dark Money Men

On the last night of his life, Khusan Kerimov had a package to deliver: $1.6 million in cash. Late in the evening on October 22, he headed for Manas International Airport, a half hour outside of Bishkek, Kyrgyzstan. It was a routine the 39-year-old taxi driver had down cold, having… Read More

U.S. assures banks on dollar dealings with China’s COSCO hit by Iran sanctions

The Trump administration assured U.S. banks on Wednesday that they can temporarily process U.S. dollar transactions on a Dalian unit of China’s biggest shipping company COSCO that Washington had imposed sanctions on over suspicions it transported oil from Iran. The United States’ sanctions on Sept. 25 pushed global freight costs… Read More

29th November 2019

Syndicate that conned 139 women in love scams busted in joint operation by police from Hong Kong, Macau, Malaysia and Singapore

Police from Hong Kong, Macau, Malaysia and Singapore mounted a joint operation and busted a transnational syndicate that swindled 139 women out of HK$34 million (US$4.34 million) in online romance scams, local police said on Thursday. The three-day transnational police operation, code-named “Soarblaze”, led to the arrests of 39 people,… Read More

28th November 2019

Trump Signs Hong Kong Sanctions Legislation, Angering China

President Trump on Wednesday signed tough legislation that authorizes sanctions on Chinese and Hong Kong officials responsible for human rights abuses in Hong Kong, signaling support for pro-democracy activists and escalating tensions with Beijing as Mr. Trump tries to negotiate a trade deal with Chinese leaders. China’s Foreign… Read More

27th November 2019

KYC360 Exclusive: Leveling the Uneven Playing Field from Which We Fight

At times, we AML professionals in the private and public sectors that play by the rules have difficulty realizing that the “bad guys” at the highest levels of the criminal world have no rules. They have more resources and capabilities than we can conceptualize. Unless you’ve lived in that world,… Read More

26th November 2019

How to hide $53m: Mogul used mother and son’s finance firm

An Auckland finance firm and its mother and son owners can now be revealed as the company and pair who failed to report $53.4 million of suspicious transactions from a Chinese-Canadian mogul accused of running a $200m pyramid scheme. Jiaxin Finance Limited, Fuqin Che and her son Qiang Fu, also… Read More

22nd November 2019

The 700-Million-Dollar Man

On Istanbul’s European side, the Ottoman-era Çırağan Palace rises grandly above the waters of the Bosphorus. Once, the servants of Sultan Abdülâziz hurried up and down its marble halls. After a fire gutted the interior in 1909, it was left in ruins for years, its garden used as a football… Read More

20th November 2019

Senate Passes Sanctions Bill to Support Hong Kong Protesters, Putting Pressure on Trump

The Senate on Tuesday passed a bill that compels the government to support Hong Kong pro-democracy activists by requiring it to impose sanctions on Chinese and Hong Kong officials responsible for human rights abuses in the territory. The bill, if enacted into law by President Trump, would also… Read More

18th November 2019

Trump’s Embrace of Sanctions Irks Allies and Prompts Efforts to Evade Measures

President Trump’s increasing reliance on economic sanctions to solve foreign policy problems is fueling concern that the United States is abusing its financial power and prompting some governments to seek ways to evade American measures. In recent months, the United States has increased pressure on Iran and Venezuela, dangled the… Read More

13th November 2019

PBOC Wants ‘Controllable Anonymity’ in China’s Digital Currency

China wants to balance functionality with concerns about anonymity as it works toward launching a digital version of the yuan, according to an official from the People’s Bank of China. “The demand from the general public is to keep anonymity by using paper money or coins,” according to Mu Changchun,… Read More

6th November 2019

Chinese firms hit bribery and tax evasion troubles amid African corruption crackdowns

While Chinese companies are feeling the pressure of anti-graft and tax evasion crackdowns at home, some are also facing similar campaigns abroad as African countries try to stamp out corrupt practices. In the past three years, a number of Chinese-owned companies have landed in trouble with investigating agencies for… Read More

5th November 2019

OneCoin lawyer on trial for role in ‘crypto-scam’

The trial of a US lawyer accused of laundering some of the proceeds from the OneCoin cryptocurrency “scam” has begun in New York. Mark Scott is accused of routing approximately $400m (£310m) out of the US while trying to conceal the true ownership and source of the funds. Some is… Read More

Must Read

EU agrees steps toward tighter money-laundering supervision

Formations House leak shows need for reforms on creating companies, says anti-corruption chief

ING close to settling money-laundering probe in Italy: sources

Credit Suisse Blocks Prosecutor Using Critical Finma Report

€131m worth of suspicious transactions at Satabank