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Japan MPs push for Hong Kong sanctions bill in wake of national security law

Japanese politicians from across the political spectrum have set up a group to discuss a bill that would impose sanctions on foreign individuals and organisations that have committed human rights abuses, with particular attention being paid to Hong Kong. The group held its first meeting on Wednesday, with 30… Read More

U.S. imposes sanctions on Chinese company over abuse of Uighurs

The United States intensified its economic pressure on China’s Xinjiang province on Friday, imposing sanctions on a powerful Chinese company and two officials for what it said were human rights abuses against Uighurs and other ethnic minorities. The move, the latest blow to U.S.-China relations, came a week after U.S. Read More

Falling foul of anti-money laundering laws results in multi-million dollar fines for Kiwi companies

Abandoned offices generally leave telltale clues about their previous occupants. But not Unit 2, 110 Mandeville St, in the Christchurch suburb of Riccarton, wedged between counselling rooms and a private education business. Peering through the locked glass door of the office reveals emptiness framed by a swathe of bare carpet… Read More

3rd August 2020

EU sanctions Russian intelligence, North Korean, Chinese firms over alleged cyberattacks

The European Union on Thursday imposed travel and financial sanctions on a department of Russia’s military intelligence service and on firms from North Korea and China over their suspected participation in major cyberattacks across the world. In its first ever sanctions related to cybercrime, the EU targeted the department for… Read More

31st July 2020

Crown’s junket criminal checks start with marketing team, inquiry told

Crown Resorts conducts its due diligence of junket partners to check for potential criminal links from within the marketing team tasked with luring wealthy high rollers to its Australian casinos, creating what the group’s legal chief concedes could be a conflict of interest. Joshua Preston, who is responsible for legal… Read More

30th July 2020

Chinese banks urged to switch away from SWIFT as U.S. sanctions loom

China should prepare for potential U.S. sanctions by increasing use of its own financial messaging network for cross-border transactions in the mainland, Hong Kong and Macau, according to a report from the investment banking unit of Bank of China. Chinese state lenders have been revamping contingency plans in anticipation of… Read More

29th July 2020

EU Levels Trade Sanctions Over Hong Kong Security Law

The European Union imposed sanctions on China over its treatment of Hong Kong on Tuesday, inching the bloc closer to the Trump administration’s more hawkish stance toward Beijing. The sanctions include limiting exports of equipment China could use for repression and reassessing extradition arrangements in light of Beijing’s imposition of… Read More

28th July 2020

Foreign Banks Turning Away Senior Hong Kong Officials: FT

Senior members of Hong Kong’s government are facing account terminations at foreign banks following the passage of a US sanctions law aimed at officials in the city and mainland China, the Financial Times reported Monday. Bernard Chan, the non-official convener of Hong Kong’s Executive Council, told the newspaper that… Read More

27th July 2020

HSBC caught in superpower tug of war

The Chinese social media app WeChat might seem to be an unusual place for HSBC to publicise a decision that could alter its history, but Peter Wong knew exactly what he was doing. With its 1.2 billion users, the platform offers a direct route into homes across the People’s Republic… Read More

24th July 2020

Cambodia: Foreign money leaves trail of ghost towns

Ngeth Both guards one of the many newly built high-rise condominiums in Koh Pich, a luxury district in the Cambodian capital Phnom Penh. Both’s job is quiet most days. There is almost no traffic in the street, and there is hardly anyone living inside the condo. “It’s always quiet. Each… Read More

23rd July 2020

U.K.’s Russia report demands major rethink of ‘Golden Visas’

A costly visa favored by Russian oligarchs and other wealthy investors should be completely revised because it was widely exploited and applicants weren’t adequately vetted, according to a report that laid out the scale of the country’s infiltration in U.K. society and politics. “The U.K. welcomed Russian money, and… Read More

23rd July 2020

New Zealand: Two companies fined $7.5 million for breaching money laundering laws

Two remittance companies have been fined a total of $7.5 million for breaching laws to prevent money laundering. The Auckland High Court has fined Auckland-based OTT Trading Group Ltd $3.1m and Christchurch-based MSI Group Ltd $4.4m. The penalties resulted from civil proceedings by the Department of Internal Affairs taken under… Read More

22nd July 2020

Russia blazed a trail for Chinese oligarchs to nab London property

You can’t move in London for Russian oligarchs these days. The city is a haven for the rich and famous – or those trying to escape scrutiny. Its schools are good, it provides a stable investing environment, and according to those who monitor the flows of illicit money into the… Read More

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