2017 Worldwide threat assessment – the rule of law is at risk

The Office of the Director of National Intelligence released its annual Worldwide Threat Assessment on May 11, 2017, from the US Intelligence Community and compared to last year, there are many more international threats to world security. The Threat Assessment from the US is a summary of all of the threats facing the US, and [...]

Issues in Financial Crime, Technology, RegTech, Artificial Intelligence & Machine Learning

3rd Annual Vancouver FinTech Conference The 3rd Annual Financial Technology Conference in Vancouver takes place on May 3, 2017, which we co-sponsor. This year’s Conference focuses on “FinTech, RegTech and Financial Crime” and will cover the nexus between technology solutions to address regulation (RegTech), law, money laundering, terrorist financing, compliance, fraud, identity management, corruption, real [...]

Casino executives alleged to have been collecting debts when arrested in China

According to this article, the 18 executives of Crown casinos that were arrested in China in October 2016, were in China to collect the debts of what are called “VIP customers” who go on gambling trips through junket schemes. One of the people arrested was Jason O’Connor, who was the VIP executive for Crown Casinos, [...]

Politically exposed Chinese foreign national pleads guilty to immigration fraud

Shilan Zhao (趙世蘭), the ex-wife of a Chinese official and a politically exposed person, has pleaded guilty to immigration fraud related to the EB5 investor visa program in the US and will serve a term of incarceration of five years. Zhao conspired with her husband, Jianjun Qiao (喬建軍), aka Feng Li, to immigrate to the [...]

$2,000,000,000,000 in Proceeds of Corruption Removed from China and Taken to US, Australia, Canada and Netherlands

The questions and answers I’ve been asked the most in 2016 about China: Q: How much money has been removed from China in proceeds of corruption? A: According to the Bank of China, way over US$120 Billion or CAD$160 Billion between the years 1995-2008. China appears to have quit sharing data officially after 2011 because [...]

G20 adopts a “zero tolerance” against corruption and agree to close all loopholes and join forces for asset recovery of proceeds of crime on an urgent basis

The G20 agrees to cooperate over asset recovery and tracking down wanted foreign nationals implicated in financial crimes The G20 released its statement on September 5, 2016, and a large part of it indicates that the leaders of the world are becoming concerned with financial crime, including money laundering, terrorist financing and tax evasion. The [...]

US expands review of money laundering in real estate market

More scrutiny in US for real estate The Financial Crimes Enforcement Network (FinCEN) announced that it is expanding its program to identify persons who may be hiding assets in residential properties in the US. The expansion adds additional cities to what are called the area for Geographic Targeting Orders (GTO). Title insurance agents in GTO cities [...]