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The ‘golden visa’ Hongkongers are grabbing have made Europe’s hottest property market too hot for locals

Ana Guerreiro points across the street at a handful of housing projects in Lisbon’s up-and-coming riverside neighbourhood of Marvila. It’s where she moved in with her mother last year after soaring rents meant she could no longer afford to live alone. “Prices have gone through the roof here,” said Guerreiro, 33, stepping outside the cafe… Read More

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

Standard Chartered Taps New Southeast Asia Private Bank Head Amid Review

Standard Chartered Plc hired Cedric Lizin to head private banking for southeast and south Asia after executive Srinivas Siripurapu resigned. The change in management comes at a sensitive time for the unit. Bloomberg News reported last month the private bank is in the process of reviewing all of its… 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

2nd September 2019

U.S. imposes sanctions on people, firms it says helped North Korea evade sanctions

The United States has imposed sanctions on two people and three firms and has identified a blocked ship that it says helped North Korea evade sanctions, the Treasury Department said on Friday. The sanctions target a shipping network that the Treasury Department says engaged in ship-to-ship oil transfers with North… Read More

30th August 2019

Australia’s James Packer pauses Crown selldown over China probe

Australian businessman James Packer has frozen a A$1.2 billion (£660.2 million) partial sale of his casino company to Hong Kong’s Melco Resorts & Entertainment pending an investigation into alleged criminal activity at its Australian operations. The delay is another setback for Australia’s biggest casino operator, Crown Resorts (CWN.AX),… Read More

22nd August 2019

Crown signals retreat from tour partners after ‘junkets’ scandal

Australian casino giant, Crown Resorts, has signalled it may reduce its reliance on Chinese “junket” operators as multiple investigations begin probing revelations it used recruiting firms connected to drug runners and other suspected criminals to lure cashed-up foreign gamblers. Crown on Wednesday also defended its due diligence and oversight… Read More

19th August 2019

Goldman’s Star in Hong Kong Turns Into 1MDB Scandal’s Enigmatic Man

Andrea Vella was Goldman Sachs’s top dealmaker in Hong Kong. He had a nose for splashy trades, a fondness for the Bentley Continental, and a vague enough resemblance to George Clooney that there was even a joke among some bankers: “What would George do?” That was almost a year ago. Read More

14th August 2019

Western Companies in Hong Kong Activate Contingency Plans as Turmoil Spreads

Western companies with large operations in Hong Kong are activating plans for employees to work remotely, and considering how to respond to a variety of possible scenarios, as protests and police actions in the city become more widespread and unpredictable. On Tuesday, as protesters disrupted Hong Kong’s airport… Read More

13th August 2019

Portugal’s golden visa programme ‘swamped’ by inquiries from Hongkongers seeking alternative residence and a safe haven

Inquiries from Hongkongers about property in Portugal, the homeland of football superstar Cristiano Ronaldo, have seen an upswing in recent months as wealthy residents and investors clamour for an alternative residency amid escalating political tensions in the city, analysts said. Since its unveiling in 2012, Lisbon’s golden visa scheme has… Read More

13th August 2019

B.C. gov’t seeks to seize properties allegedly linked to $165 million stock fraud

The B.C. government is suing to seize properties in the B.C. Interior that it alleges were linked to a $200-million-plus international stock fraud. In a lawsuit filed in B.C. Supreme Court this month, the B.C. Civil Forfeiture Office alleges a $1.6-million house on Mission Ridge Road in Kelowna and a… Read More

12th August 2019

The Star casino roped into Crown controversy over links to junkets

An Asian money launderer used a Star Entertainment casino account in Sydney to send more than $400,000 offshore in a transaction tracked by Australian Federal Police investigators. The money was destined for Macau multi-millionaire casino tycoon, Alvin Chau, whose high-roller travel business, known as a junket, is licensed and paid… Read More

31st July 2019

South Africa’s Public Protector Flagged by HSBC in Connection to Guptas

South Africa’s public protector Busisiwe Mkhwebane, who heads the country’s top anti-corruption body, was flagged by global banking giant HSBC as having financial links to the infamous Gupta family, according to banking records leaked to OCCRP. The Guptas are at the center of South Africa’s Judicial Commission of Inquiry… Read More

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