Ming Pao Newspaper covers diamond smuggling trade from Hong Kong to Vancouver

Tweet Diamond smuggling into Vancouver The Ming Pao Saturday Magazine has an interesting story on the arrest of two men from Hong Kong who attempted to smuggle $120 million worth of diamonds into Canada. The diamonds were strapped to their legs and are believed to be proceeds of crime. The story discusses the issue of […]

The Chinese Way – the impact of China’s anti-corruption campaign on trade-based money laundering and Macau casinos

Tweet Money Laundering Bulletin in the UK has a good article out today on the anti-corruption drive in China and its impact on the casinos in Macau, which explores the anti-money laundering lapses and lack of legislation in the gambling industry in Macau, and the corresponding increase of trade-based money laundering in China. Trade-based money laundering […]

The violent methods gambling debts from Macau are collected in Hong Kong

Tweet Law Commission notes violent methods of gambling debt collection According to a Consultation Paper prepared by the Law Reform Commission of Hong Kong, debt collection in Hong Kong is a significant and violent problem, mostly arising from gambling debts incurred locally and in Macau. Loan sharks in Macau and Hong Kong account for 21.4% […]

Two Hong Kong billionaires convicted of money laundering over Macau government procurement case

Tweet Surprising criminal conviction of two Hong Kong tycoons In a surprising decision, the Macau Court of First Instance has convicted two high-profile Hong Kong businessmen of money laundering. Joseph Lau Luen-hung, 劉鑾雄, and Stephen Lo Kit-sing, 羅傑承, each received a sentence of five years and three months in prison and were sentenced in absentia.  Mr. Lau is […]

Carson Yeung – The life of a money launderer in Hong Kong and Macau

Tweet Money laundering For junket operators Bloomberg has a great story on the rise and fall of Carson Yeung Ka-shing, the Hong Kong businessman and owner of the Birmingham City football club, convicted earlier this week of  laundering $93 million through, inter alia, junket operators and casinos in Macau. Mr. Yeung was arrested in June […]

Money laundering is “huge” in Hong Kong and Macau; Mixed judicial response to money laundering

Tweet Money laundering is more prevalent than elsewhere According to a recent survey of business people who operate and do business in Hong Kong and Macau, money laundering is a huge problem and in fact, is more prevalent there than anywhere else in the world. The results of the survey which were reported in South China […]

Hong Kong woman sentenced for being a money mule for laundered Canadian funds

Tweet Canadian funds carried by money mule to China The Court of Appeal for Hong Kong has upheld the money laundering conviction of a woman who acted as a money mule to China, and increased her sentence to two years. The decision, HKSAR v. Ngai Fund Sin Apple (律政司司長 訴 倪鳳仙), CAAR 1.2013, is one of a […]