Featured Hong Kong

Explainer: HSBC, Spark Alliance and the law behind the latest fury in Hong Kong protests

HSBC Holdings, which traces its origin in Hong Kong to March 1865, is the latest institution to be embroiled in the city’s worst political crisis. What appears to be a routine regulatory decision to close a client’s corporate banking account has triggered an ugly backlash as its outlets became the… Read More

HSBC Walks Tricky Political Tightrope Between Hong Kong and Beijing

The two bronze lion statues standing guard over HSBC Holdings Plc’s main offices in Hong Kong still bear the marks of an attack by protesters, who last week daubed them with red and black paint, setting at least one ablaze. Graffiti declared that HSBC had been dyed the red… Read More

HSBC kicks off year with Hong Kong branches closed, vandalized

HSBC (HSBA.L) (0005.HK) is being drawn into Hong Kong’s political turmoil with protesters attacking some of its branches and graffiti daubed on the famous pair of lions that guard its city-center headquarters. Hong Kong is the bank’s single most important market, accounting for just over half of its… Read More
30th December 2019
Ongoing political demonstrations in Hong Kong are impacting APAC financial markets by accelerating wealth migration trends and increasing financial crime risk. As the risk profile in the region evolves, regulators increasingly expect financial institutions to leverage technology to meet compliance demands. This unexpected upheaval and changing regulatory landscape should serve… Read More
23rd December 2019
HSBC Holdings Plc moved to defend itself after Hong Kong police announced arrests linked to an account the bank closed last month. The bank took to Twitter and Facebook on Friday and also sent a memo to staff saying that the decision last month to shutter the protest-linked account… Read More
20th December 2019
Glancing at bags of cash stuffed to the brim earlier this month, Gary Fan simply wanted someone to remove them from an office in Hong Kong used by his political party. The former pro-democracy lawmaker had collected HK$2.7 million ($345,000) during an anti-government protest the day before, and was waiting… Read More
13th December 2019
Botswana’s former president Ian Khama has hit back against corruption allegations, vowing to sue a lead investigator for defamation after he accused the ex-leader of syphoning-off billions in state funds. After a decade in power, Khama, 66, dramatically resigned from the Botswana Democratic Party (BDP) in May – which has… Read More
29th November 2019
Police from Hong Kong, Macau, Malaysia and Singapore mounted a joint operation and busted a transnational syndicate that swindled 139 women out of HK$34 million (US$4.34 million) in online romance scams, local police said on Thursday. The three-day transnational police operation, code-named “Soarblaze”, led to the arrests of 39 people,… Read More
28th November 2019
President Trump on Wednesday signed tough legislation that authorizes sanctions on Chinese and Hong Kong officials responsible for human rights abuses in Hong Kong, signaling support for pro-democracy activists and escalating tensions with Beijing as Mr. Trump tries to negotiate a trade deal with Chinese leaders. China’s Foreign… Read More
25th November 2019
We need to enable a wider application of technology to AML work in the sector, deputy chief Arthur Yuen said at the HKMA’s its first AML/CFT RegTech Forum on Friday. The HKMA (Hong Kong Monetary Authority) on Friday (22 November) hosted its first AML/CFT RegTech Forum. The Forum was an… Read More
20th November 2019
The Senate on Tuesday passed a bill that compels the government to support Hong Kong pro-democracy activists by requiring it to impose sanctions on Chinese and Hong Kong officials responsible for human rights abuses in the territory. The bill, if enacted into law by President Trump, would also… Read More
18th November 2019
Three prime ministers took to a stage in the ballroom of a five-star London hotel this week offering the world’s wealthiest people “golden passports” and citizenship of their countries in return for hundreds of thousands of pounds of investment or flat “contributions”. Allen Chastanet, the prime minister… Read More
6th November 2019
The United Nations (UN) reportedly believes that North Korea is training its most talented young IT talents to become elite cryptocurrency hackers – and thinks Pyongyang is using a fake Hong Kong blockchain company as a front for money laundering schemes. Per South Korean media outlet Chosun, South Korean… Read More