Featured China

Global Banks in Hong Kong Breathe Easier Over U.S. Sanctions

U.S. sanctions over Hong Kong are likely to pose fewer headaches for international banks operating in the financial hub than first feared, lawyers say. Banks have been on notice since July, when President Trump signed a law targeting people the U.S. sees as undermining Hong Kong’s autonomy, and those… Read More

China to Sanction U.S. Weapons Makers Over Taiwan Sales

China said it will sanction three American defense contractors over proposed arms sales to Taiwan, retaliating against U.S. efforts to deepen security ties with the island democracy that Beijing claims as its territory. Chinese Foreign Ministry spokesman Zhao Lijian said Monday that Beijing has decided to impose sanctions on… Read More

Suspects in alleged Markham illegal casino mansion linked to B.C. casino suspects

B.C. real estate developer Yongtao Chen stepped onto the podium in a Vancouver hotel ballroom and enthusiastically waved a red flag to a loud round of applause. He had just accepted a new role as chairman of the Canadian Alliance of Chinese Associations (CACA) and was displaying their banner at… Read More
26th October 2020
A global anti-money laundering watchdog kept Pakistan on its monitoring list asking the South Asian nation to improve controls on terrorist financing while lauding authorities for recent progress. The Financial Action Task Force strongly urged Pakistan to complete its action plan by February, following a three-day meeting. Pakistan has largely… Read More
23rd October 2020
The police revealed that a call centre for an international gambling syndicate masterminded by two men believed to be involved in a recent money laundering case was also involved in a foreign exchange (forex) investment fraud cases. Bukit Aman Criminal Investigation Department (CID) director Datuk Huzir Mohamed said investigations found… Read More
22nd October 2020
Four Hong Kong shipping companies sanctioned this week by the U.S. Department of State for doing business with an Iranian state shipping line have been traced to a single name, purportedly belonging to a person based in Shanghai, an RFA investigation has revealed. The U.S. on Monday named Reach Holding… Read More
22nd October 2020
In her first public remarks on the investigation into Crown, Australian Transaction Reports and Analysis Centre chief executive Nicole Rose told a Senate hearing that the financial intelligence agency had “serious concerns” about the casino operator’s conduct. Crown’s Melbourne casino filed almost 50,000 reports to AUSTRAC in 2019, primarily because… Read More
21st October 2020
Banks operating in Hong Kong have been told to report financial transactions believed to violate the city’s controversial national security law (NSL) as they would suspected incidents of money laundering or terrorism financing, according to the city’s top financial regulator. In a document posted on its website, the Hong Kong… Read More
19th October 2020
Iran has announced that it is now free to purchase weapons on the basis of its defense needs, as a United Nations conventional arms embargo imposed on the country expired on Sunday. “Today’s normalization of Iran’s defense cooperation with the world is a win for the cause of multilateralism and… Read More
15th October 2020
The U.S. State Department on Wednesday warned international financial institutions doing business with individuals deemed responsible for China’s crackdown in Hong Kong that they could soon face tough sanctions. In a report to Congress, the State Department named 10 people, including Hong Kong’s chief executive Carrie Lam, all of whom… Read More
15th October 2020
A senior Crown Resorts executive has conceded a litany of serious failures by the casino operator relating to alleged criminal activities, but insists it wasn’t deliberately turning a blind eye. Deputy chairman John Horvath, previously a personal physician to the late Kerry Packer and chief medical officer of Australia, made… Read More
15th October 2020
Police seized a Lamborghini worth nearly half a million dollars during a raid on an alleged money laundering service in Auckland. The Lamborghini Huracan, worth $450,000, was seized alongside a Mercedes G Wagon worth $280,000 and five other luxury cars. A Rayglass boat and high-end motorcycles were also seized. During… Read More
14th October 2020
Despite a high profile crackdown the Chinese government continues to support the sale of pangolin parts for use in traditional medicine, according to a new report. The Environmental Investigation Agency (EIA) found that 221 companies remain licensed to sell pangolin scale products, including global pharmaceutical company China Beijing Tong… Read More