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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

Asia-Pacific Wealth Migration Trends Heighten Financial Crime Risk

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 Defends Itself After Shuttered Account Linked to Hong Kong Arrests

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

Mysterious Bags of Cash Trigger Major Hong Kong Protest Arrests

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 Khama hits back against allegations of corruption, money laundering

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

Syndicate that conned 139 women in love scams busted in joint operation by police from Hong Kong, Macau, Malaysia and Singapore

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

Trump Signs Hong Kong Sanctions Legislation, Angering China

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 Accelerate Regtech Transition in AML Work: HKMA

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

Senate Passes Sanctions Bill to Support Hong Kong Protesters, Putting Pressure on Trump

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

London ballroom hosts showcase event for ‘golden passports’

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

UN: North Korea Turns Talented Children into Cryptocurrency Hackers

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

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