Vancouver man who tried to smuggle HK$13 million worth of cannabis buds into Hong Kong, sentenced to 52 months jail

Tweet A Vancouver man, Sinara Nou, was sentenced last week to 52 months in jail following a conviction in Hong Kong for attempting to smuggle in HK$13 million worth of cannabis through the Hong Kong International Airport in two suitcases. In February 2019, Nou was arrested while attempting to smuggle cannabis buds into Hong Kong […]

Canadian money launderer from Vancouver loses another appeal in Hong Kong; ordered deported to India to face drug trafficking charges

Tweet A Canadian man, originally from China, who is a convicted money launderer, lost a second appeal in the Hong Kong Court of Appeal two weeks ago, to prevent his deportation to India to face trial for drug trafficking. Xie Jing Feng, whom we wrote about here, appealed decisions for his removal on the ground […]

Politically exposed Chinese foreign national pleads guilty to immigration fraud

Tweet 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 […]

UN Chief charged in money laundering bribery scheme for allegedly accepting millions in cash from Chinese casino billionaire

Tweet Former UN President Charged The former United Nations (“UN”) President of the UN General Assembly, John Ashe, the UN Deputy Ambassador, Francis Lorenzo, a Chinese foreign national billionaire, Ng Lap Seng (also known as David Ng) and two of his associates were charged in New York with various offenses over an alleged bribery scheme. Two […]

Another Australian Bank De-Risks and Exits Remittance Business Over Terrorist Financing Regulatory Risks; Financial Inclusion and Shadow Banking Seen As Repercussion

Tweet Fourth banks closes remittances businesses Another bank in Australia, the Westpac Bank, has announced it will close its remittance business division next week over the difficulty of complying with counter-terrorism laws. By de-risking and closing its remittance division, the Bank is terminating the bank accounts of all of its business customers who operate money […]

Asian newspaper says money mules from Asia are smuggling suitcases full of US cash to Vancouver to avoid FATCA and IRS

Tweet Suitcases full of cash muled to Vancouver by cash couriers According to this article in South China Morning Post, the Foreign Account Tax Compliance Act (“FATCA“), will result in the growth of Asia’s underground or shadow banking system, including an increase in the use of cash mules who transport suitcases full of US cash from […]

China takes steps to enforce anti-money laundering laws in Macau

Tweet According to this report, the People’s Bank of China has signed a Memorandum with the Monetary Authority of Macau to start to take steps to address money laundering in Macau’s casinos. The share price of casino companies operating in Macau fell on the news of the Memorandum. According to a recent survey of business people who operate […]

Bank of China accused of offering a money laundering service to prospective emigrants to places like Canada and US

Tweet According to a report in the South China Morning Post here, the state television news organization of China, CCTV, has accused the Bank of China of offering a money laundering service to wealthy people in China to facilitate the removal of funds from China for immigration purposes in violation of the country’s currency restriction […]

Vietnam improves its government anti-corruption and anti-money laundering supervision

Tweet Slowing Addressing Money Laundering Issues The Government of Vietnam, through its State Bank, announced late last week that it was improving its anti-money laundering and anti-corruption supervisory regime by implementing changes to the functions, responsibilities and structure of the Banking Supervision Agency (“BSA“). Effective August 1, 2014, a separate higher division of the BSA […]

China seeking advice on deporting 1,000 EB-5 immigrants from US and recover assets in what may be the first cases of G20 “denial of safe haven” policy

Tweet Removal of Foreign Nationals & Asset Recovery According to several news reports, such as the one here, the government of China is in discussions with the US government (and firms) regarding the process to deport or extradict former Chinese nationals believed to have immigrated with billions of dollars in proceeds of crime from corruption. […]