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The hunt for Asia’s El Chapo

He is Asia’s most-wanted man. He is protected by a guard of Thai kickboxers. He flies by private jet. And, police say, he once lost $66 million in a single night at a Macau casino. Tse Chi Lop, a Canadian national born in China, is suspected… Read More

Shadowy operators power Duterte’s offshore gaming boom

It has created 470,000 jobs. It contributes over $11 billion to the economy. It has even sparked a diplomatic clash with China. The strange thing is, nobody is sure who fully owns it. It’s not as though the Philippine offshore gaming operators who are transforming Manila, known collectively as POGOs,… Read More

Crown Casino whistleblower alleges gambling giant skirting money-laundering laws

In a private room in Melbourne’s Crown Casino, a man wearing tracksuit pants and runners approaches a counter with a rectangular blue cooler bag. Calmly, he unzips the bag to reveal its contents: dozens of thick, neatly stacked bundles of Australian $50 and $100 notes. The bricks of cash are… Read More

15th October 2019

Inside a Brazen Scheme to Woo China: Gifts, Golf and a $4,254 Wine

It was a brazen campaign to win business in China by charming and enriching the country’s political elite. The bank gave a Chinese president a crystal tiger and a Bang & Olufsen sound system, together worth $18,000. A premier received a $15,000 crystal horse, his Chinese zodiac animal, and his… Read More

9th October 2019

China Masks Oil Imports Via Ship Transfers as Sanctions Bite

Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies. Some 910,000 tons of crude, three times as much as in August, was offloaded at Chinese ports after being transferred in the South China… Read More

8th October 2019

U.S. Blacklists Eight Chinese Tech Companies on Rights Violations

The Trump administration placed eight Chinese technology giants on a U.S. blacklist on Monday, accusing them of being implicated in human rights violations against Muslim minorities in the country’s far-western region of Xinjiang. The companies include two video surveillance companies — Hangzhou Hikvision Digital Technology Co. and Zhejiang… Read More

27th September 2019

British-owned ships smuggle coal out of North Korea

When a British-owned ship loaded cargo at a coal berth on the west coast of North Korea earlier this year, its operators hoped that the mission would remain low-key. The Lucky Star’s public tracking system was switched off and was not reactivated until six days later when it had sailed… Read More

27th September 2019

Pogos refusing to report red flags face money laundering rap, penalties, says AMLC

Investors in Philippine Offshore Gaming Operations (Pogos) are also required to report suspicious transactions to the Anti-Money Laundering Council (AMLC) to prevent the growing online casino industry, catering mainly to Chinese players, from becoming a conduit for money laundering. At the Senate finance committee hearing on AMLC’s proposed 2020 budget,… Read More

26th September 2019

Oil Traders Rattled by U.S. Sanctions on Chinese Shipping Firms

Global oil shipping was thrown into disarray after the U.S. imposed penalties on a handful of Chinese tanker firms for continuing to carry Iranian crude after sanctions waivers lapsed in May. Four shipping companies were charged with knowingly violating restrictions on handling and transacting Iranian petroleum, with additional sanctions… Read More

26th September 2019

How a sanctions-busting smartphone business thrives in North Korea

North Korea is evading U.N. sanctions to cash in on soaring domestic demand for smartphones, using low-cost hardware imports to generate significant income for the regime, according to defectors, experts and an analysis of North Korean-made phones. Economists estimate as many as six million North Koreans – a quarter of… Read More

19th September 2019

Sri Lankan lawmakers to investigate Lotus Tower graft allegation

A Sri Lankan parliamentary panel will investigate an allegation of corruption against a Chinese company contracted to work on the construction of South Asia’s tallest tower. President Maithripala Sirisena made the allegation at the inauguration on Monday of the 356-meter Lotus Tower, which overlooks Beira Lake in Colombo, sparking a… Read More

11th September 2019

Global money-laundering watchdog closely monitoring Facebook’s Libra, official says

The global anti-money laundering watchdog is closely monitoring developments on Facebook’s planned Libra cryptocurrency, its new head told Reuters on Tuesday, in the latest sign of growing regulatory scrutiny of the project. The Facebook-led Libra project is mooted for launch by June next year. Regulators’ and politicians’ concerns range from… Read More

5th September 2019

FATF: Hong Kong Partially Compliant on PEPs, Beneficial Ownership

The government of Hong Kong should strengthen its oversight of politically exposed persons (PEPs) and improve its beneficial ownership laws, a financial crime watchdog group said. In a mutual evaluation report published Wednesday, the Paris-based Financial Action Task Force (FATF) found the Chinese special administrative region partly compliant with… Read More

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