2nd November 2020
Economic and trade sanctions have become a top U.S. foreign-policy tool for the Trump administration, and that would be unlikely to change under his Democratic challenger, Joe Biden. Yet, with the coronavirus pandemic and the economic fallout taking center stage of the election season, Mr. Biden hasn’t said much about… Read More
28th October 2020
U.S. sanctions over Hong Kong are likely to pose fewer headaches for international banks operating in the financial hub than first feared, lawyers say. Banks have been on notice since July, when President Trump signed a law targeting people the U.S. sees as undermining Hong Kong’s autonomy, and those… Read More
23rd October 2020
Goldman Sachs, one of Wall Street’s oldest and most prestigious banks, will pay $2.9 billion in penalties and fees to settle federal charges over its involvement in a Malaysian bribery scheme, the Justice Department announced Thursday. Prosecutors in the Eastern District of New York charged the bank with conspiracy to… Read More
22nd October 2020
Four Hong Kong shipping companies sanctioned this week by the U.S. Department of State for doing business with an Iranian state shipping line have been traced to a single name, purportedly belonging to a person based in Shanghai, an RFA investigation has revealed. The U.S. on Monday named Reach Holding… Read More
22nd October 2020
In her first public remarks on the investigation into Crown, Australian Transaction Reports and Analysis Centre chief executive Nicole Rose told a Senate hearing that the financial intelligence agency had “serious concerns” about the casino operator’s conduct. Crown’s Melbourne casino filed almost 50,000 reports to AUSTRAC in 2019, primarily because… Read More
21st October 2020
Banks operating in Hong Kong have been told to report financial transactions believed to violate the city’s controversial national security law (NSL) as they would suspected incidents of money laundering or terrorism financing, according to the city’s top financial regulator. In a document posted on its website, the Hong Kong… Read More
15th October 2020
The U.S. State Department on Wednesday warned international financial institutions doing business with individuals deemed responsible for China’s crackdown in Hong Kong that they could soon face tough sanctions. In a report to Congress, the State Department named 10 people, including Hong Kong’s chief executive Carrie Lam, all of whom… Read More
13th October 2020
Hong Kong’s homegrown investment bankers are rapidly losing their status as the city’s go-to dealmakers, supplanted by mainland Chinese rivals who now hold a majority of senior jobs in Asia’s biggest financial hub. While the shift has long seemed inevitable given the expanding pool of mainland talent and dominant role… Read More
30th September 2020
Britain’s Foreign Minister Dominic Raab has confirmed that his government is open to the possibility of imposing sanctions against officials involved in Hong Kong’s affairs under its Global Human Rights (GHR) regime. In a letter to an MP this month, Raab condemned the disqualification of 12 pro-democracy hopefuls from standing… Read More
24th September 2020
Hong Kong customs has arrested the director of a possible shell company on suspicion of laundering HK$400 million (US$51.6 million) through eight bank accounts over the past two years. Her capture was the result of a follow-up investigation into a family of five accused of laundering more than HK$3 billion… Read More