Saturday, June 19, 2021

Showing results for:

Seven Hong Kong bankers arrested for laundering $813 million

Seven current and former Hong Kong bankers were arrested in a series of raids on Tuesday as police moved against an international money-laundering syndicate alleged to have handled HK$6.3 billion (US$813 million) in criminal proceeds – the biggest such...

Hong Kong’s leader Carrie Lam drops plan to extend anti-bribery laws to her role as chief executive

Hong Kong leader Carrie Lam Cheng Yuet-ngor will not extend the city’s anti-bribery laws to cover her own chief executive position, reneging on a promise she made in her election manifesto three years ago. Lam said amending the law would affect her “constitutional...

Former Hong Kong beach volleyball player accused of laundering crowdfunded funds

A former Hong Kong beach volleyball player and primary school teacher, who was convicted of assaulting a police officer during last year’s social unrest, was arrested on Sunday for allegedly laundering HK$5.8 million (US$748,000) following his crowdfunding campaign to...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on Thursday, as it hit a local subsidiary of the Wall Street bank with a record...

Hong Kong fines Bank of East Asia $4.2 million over clients segregation

Hong Kong’s Securities and Futures Commission (SFC) today announces that it has reprimanded The Bank of East Asia, Limited (BEA) and fined it $4.2 million for regulatory breaches related to its failure to segregate client securities. Following a referral from the HKMA...

HSBC shares fall to lowest in Hong Kong amid money laundering report

HSBC's share price fell to its lowest level since 1995 amid allegations of money laundering. HSBC allowed fraudsters to transfer millions of dollars around the world even after it had learned of their scam, leaked secret files show. The UK-based bank...

Hong Kong crime family arrested for laundering $387 million

Hong Kong customs has arrested five members of a family accused of laundering more than HK$3 billion (US$387 million) through over 100 personal bank accounts, along with the owner of a money exchange business, in the biggest case of...

Malaysia turns to Hong Kong in hunt for 1MDB scandal fugitives

Malaysia's police sought help from Hong Kong authorities in its 1MDB probe that includes the hunt for Jho Low, the alleged mastermind behind the billion-dollar scandal. The police have sent letters and information to their Hong Kong counterparts to seek...

Hong Kong fx broker CLSA faces New Zealand AML probe

New Zealand’s financial regulator has launched civil proceedings against the local unit of Hong Kong-based foreign exchange broker CLSA Premium Ltd for “multiple” alleged breaches of anti-money laundering laws. The Financial Markets Authority (FMA) said CLSA Premium’s local unit failed...

Hong Kong fines Guotai Junan Securities $25.2m over anti-money laundering failings

Hong Kong’s Securities and Futures Commission (SFC) today announces the imposition of a $25.2 million fine on Guotai Junan Securities (Hong Kong) Limited over internal control failures and regulatory breaches in connection with anti-money laundering, handling of third party fund...

Latest News

UK’s Scotland Yard to review sex trafficking allegation against Ghislaine Maxwell

Scotland Yard has confirmed it is to review a dossier of allegations that Ghislaine Maxwell trafficked, groomed and sexually...
You searched for:

Hong Kong

- Advertisement -