4th September 2020
Financial firms in Hong Kong are scrambling to fortify their compliance operations following U.S. sanctions and China’s new national security law, even as the sector pushes to cut costs amid the coronavirus pandemic. This underscores the growing challenges for firms operating in the Asian financial hub, which was roiled last… Read More
2nd September 2020
Chinese authorities are getting more serious about fighting money laundering. Regulators in the country received a wake-up call in 2019 when the international Financial Action Task Force on money laundering highlighted flaws in China’s system. Later that year, several Chinese lawmakers submitted proposals to amend the nation’s 13-year-old anti-money laundering… Read More
1st September 2020
China should make its own financial markets big enough and open enough to foil any attempt by the United States to decouple financially, according to a semi-official Chinese research group. The tactics suggested in a report released on Sunday by the China Finance 40 Forum (CF40), a think tank comprising… Read More
31st August 2020
How would you spend £340 ($450)? It’s a lot of money – enough for a haute couture purse from Yves Saint Laurent. It is also the market rate for a kilogram of scales from the world’s most trafficked animal. The story of how the trade of pangolin scales… Read More
31st August 2020
Herbalife Nutrition Ltd. on Friday agreed to pay $123 million to settle charges that it provided corrupt payments to government officials in China and falsified its books and records. The Los Angeles-based multilevel-marketing company entered into a deferred prosecution agreement with federal prosecutors in Manhattan during a virtual court hearing… Read More
31st August 2020
The Enforcement Directorate has frozen Rs 46.96 crore in four bank accounts after raiding 15 locations across Delhi, Gurgaon, Mumbai and Pune after some companies were allegedly found running illegal online betting apps linked to China. The chartered accountants of these firms were also raided, the ED said in a… Read More
28th August 2020
HSBC is facing mounting pressure over its stance on Hong Kong after the United States claimed that the bank was helping China to crack down on pro-democracy supporters. Mike Pompeo, the US secretary of state, attacked the London-based lender for its treatment of executives at Next Digital, a Hong Kong-based… Read More
27th August 2020
The Trump administration added 24 Chinese companies to a trade blacklist for helping China build islands in the South China Sea, a construction program the United States has labeled an illegal attempt to control an important shipping route. The blacklist, known as the Entity List, has become a favorite… Read More
27th August 2020
Inside a well-lit Manila studio, a young Filipino woman in heavy make-up and a low-cut black dress flips card after card. She is the dealer in a game of baccarat, a popular game in casinos worldwide. But she stands alone – the players are thousands of miles away in mainland… Read More
27th August 2020
More than 500 Chinese people obtained European Union citizenship in the island nation of Cyprus between 2017 and 2019, including Asia’s richest woman, according to leaked documents obtained by Al Jazeera’s Investigative Unit. The documents, which are said to contain information on 2,500 immigrants to Cyprus during that time frame,… Read More