Hong Kong police have arrested 13 people in a crackdown on a syndicate that purported to sell concert tickets, with a victim losing HK$640,000 (US$82,200) in a single case for trying to buy 544 non-existent tickets for Cantopop king Andy Lau Tak-wah’s shows. Police intelligence revealed the fraudsters had been active since October last year,…
A 22-year-old mainland Chinese student at the University of Hong Kong has lost HK$1.8 million (US$231,300) to fraudsters in a phone scam, the second such victim from the institution in less than a week. A police source said on Tuesday the female student had received a call in December from someone impersonating staff from the…
Singapore police said they didn’t arrest a Chinese national accused of money laundering because they were not asked to do so by authorities in China, even though an Interpol Red Notice had been issued for him. Yan Zhenxing, a Singapore permanent resident in his early 40s, was detained on Monday by Indonesian authorities after he…
US bipartisan lawmakers have called on their Department of the Treasury to re-evaluate its treatment of Hong Kong banks, accusing the city of becoming a hub for money laundering and evasion of sanctions involving authoritarian countries. In a joint letter sent to US Treasury Secretary Janet Yellen and unveiled on Monday, Republican congressman John Moolenaar…
Lawmakers in the US House of Representatives have asked Treasury Secretary Janet Yellen to rethink ties with Hong Kong’s banking sector, saying the city has become a top location for money laundering and sanctions evasion. Hong Kong has turned into a hub for many violations of US trade controls, including export of controlled Western technology…
Lawmakers in the US House of Representatives have urged Treasury Secretary Janet Yellen to rethink ties with Hong Kong’s banking sector, citing concerns that the city is increasingly becoming a hub for money laundering and sanctions evasion, according to a report read more Lawmakers in the US House of Representatives have urged Treasury Secretary Janet…
By Pretish M J in Bengaluru and Michael Martina LAWMAKERS in the U.S. House of Representatives have asked Treasury Secretary Janet Yellen to rethink ties with Hong Kong’s banking sector, saying the city has become a top location for money laundering and sanctions evasion. Hong Kong has turned into a hub for many violations of…
A former branch manager of an insurer and 12 ex-insurance agents pleaded guilty on Saturday to conspiring to defraud two insurance companies of HK$52 million (US$6.68 million) by making false policy applications following an investigation by Hong Kong’s anti-corruption watchdog. Lo Yin-wa, a former branch manager of FWD Life Insurance, was named as a mastermind…
Hong Kong police have issued a warning over a rising trend of fake official scams targeting mainland Chinese students after fraudsters tried to stage the kidnapping of an 18-year-old to extort HK$6 million (US$771,850) from his father. Senior Inspector Chu Yuen-tim of the Hong Kong Island regional technology and financial crime unit said on Saturday…
A joint operation by Hong Kong, Macau and mainland Chinese law enforcement agencies has resulted in the arrest of 63 people for allegedly operating a cross-border prostitution ring, with its mastermind and core members caught in the city. Police Chief Inspector Tang Hoi-tung from the organised crime and triad bureau said on Friday officers had…