The 72-year-old was sentenced to 20 months in prison for misconduct in office, becoming city’s highest-ranking official to be jailed.
Hong Kong is beefing up its anti-money laundering and corporate disclosure laws in a move that some financial crime specialists say could lead to the exodus of billions of dollars in assets from the territory as people seek to avoid increased scrutiny.
Hong Kong’s securities regulator said brokers in the city had suffered cyber attacks and warned of possible further incidents across the industry.
China’s central bank said it tightened requirements for lenders to report cross-border transactions by customers as part of stepped-up efforts to curb money laundering.
Chinese residents now need to fill an application form indicating the purpose of foreign exchange purchases, reflecting strengthened scrutiny from the nation’s top currency regulator amid renewed pressure from capital flight.
After more than three years of digging into JPMorgan Chase’s hiring practices in China, federal authorities have determined that the bank hired the children of Chinese leaders as part of a quid pro quo to win business in the booming nation, clearing the way for a costly punishment.
The Hong Kong Monetary Authority has released a sobering assessment of blockchain — the much-hyped technology some banks are researching to cut costs — including a warning that it may raise the risk of money laundering.
A backlog of suspicious financial transactions in Hong Kong’s banking industry was named as the reason for a dramatic upsurge
Campaigners have frequently branded the UK a world money-laundering hotspot, citing the 'terrifying' scale of illicit funds that make their way through the City of London. Is this fair? What is the UK Government doing to ...
Tom Devlin interviews Sam Thampapillai, associate in the financial services disputes and investigations group at Eversheds Sutherland. Sam has focused his recent work on developing technologies and financial crime. In this video he focuses on Blockchain, offering an ...
In late November, Jay Clayton was called by a longtime client seeking advice for how the Trump administration should tackle scaling back rules on Wall Street. Mr. Clayton, a partner at Sullivan & Cromwell LLP who ...
The old Ottoman Empire had the most direct way of going about these things. When the old sultan died, his successor would seize all his brothers and half-brothers, slit their throats and dump their corpses ...
European Supervisory Authorities warn on money laundering and terrorist financing risks affecting the EU financial sector
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a joint Opinion addressed to the European Commission on the risks of money laundering (ML) and terrorist financing (TF) affecting the European ...
China has appointed Guo Shuqing as the new head of the banking regulator, according to people familiar with the matter. Having spent much of his life working on transforming the nation’s financial system, Guo, 60, faces daunting tasks ahead as he takes on oversight of the world’s largest banking industry by assets.
The regulations apply to all-cash buyers using shell companies in places like New York City, Miami and Los Angeles.
Just 215 wealthy people were granted an investor visa for the U.K. last year after the government doubled the investment needed to 2 million pounds ($2.5 million) and introduced new money-laundering checks in 2014.
Capital One Financial Corp. is under investigation for its anti-money-laundering program, according to the company’s annual securities filing.