2nd July 2020
The US House of Representatives on Wednesday joined the Senate in approving a bill to rebuke China over its crackdown in Hong Kong by imposing sanctions on groups that undermine the city’s autonomy or restrict its freedoms. The bill targets police units that have cracked down on Hong Kong… Read More
2nd July 2020
The global watchdog against money laundering and terrorist financing is seeking input on how to prevent the spread of weapons of mass destruction as Germany assumes its two-year presidency of the organization. In an announcement following the final plenary meeting under Chinese President Xiangmin Liu, the Financial Action Task… Read More
26th June 2020
Mongolia held parliamentary elections on June 24. Two of the candidates are currently under investigation by Swiss prosecutors, who suspect corruption linked to the granting of rights for a massive copper and gold mine in the Asian country. Politically, the two are running in different provinces. Sangajav Bayartsogt, the former… Read More
24th June 2020
Overruling objections about the court’s jurisdiction, a judge has allowed the case against two Bellevue residents who allegedly led a cultlike Ponzi scheme in China for more than a decade to proceed. The suit alleges Bellevue residents Jialin “Kathy” Niu and Troy McBride financed their extensive local property portfolio with… Read More
23rd June 2020
Hong Kong’s market watchdog fined a unit of Chinese securities broker Guotai Junan Securities HK$25.2 million ($3.25 million) for “multiple internal control failures” concerning anti-money laundering and other areas. Guotai Junan Securities (Hong Kong) had failed to detect numerous potentially suspicious transactions or report them appropriately, the Securities and Futures… Read More
19th June 2020
China threatened retaliation after U.S. President Donald Trump signed legislation on Wednesday calling for sanctions over the repression of China’s Uighurs, as excerpts from a book by his former national security adviser alleged he had approved of their mass detention. The bill, which Congress passed with only one “no” vote,… Read More
17th June 2020
Four ex-employees and executives of the Industrial and Commercial Bank of China’s (ICBC) Madrid branch reached a plea deal with Spanish prosecutors in a money-laundering case and accepted prison terms of between three and five months. The prosecutor’s office said on Tuesday the accused also agreed to pay a fine… Read More
16th June 2020
Last year, China replaced the United States as the No. 1 importer of oil from Venezuela, yet another front in the heated rivalry between Washington and Beijing. The United States had imposed sanctions on Venezuela’s state-owned oil company as part of a bid to topple that country’s socialist president, Nicolas… Read More
16th June 2020
Dozens of scantily dressed Filipina croupiers stand in booths shuffling cards in front of a webcam, their faces softly illuminated by professional lighting. Nearby, rows of Chinese nationals sit at desks chatting on cellphones with potential clients back in China. This is what a typical POGO — or a Philippine… Read More
15th June 2020
One Hong Kong businessman moved $10 million to Singapore and plans to transfer more. Another is eyeing London property, worried that prices in Hong Kong are too high. Well-to-do families across the city are opening offshore bank accounts and applying for alternative passports. While it doesn’t add up to an… Read More