HSBC escaped U.S. money laundering charges after the UK government warned of dire economic consequences.
A senior U.S. Treasury official has called for Congress pass a two-page law against secret beneficial ownership of shell companies. Increased scrutiny of all-cash transactions has helped slow NYC’s luxury real estate market.
The former chairman of China Telecom is to be prosecuted for graft. The Bank of East Asia’s anti-money laundering controls are under scrutiny over 70 million yuan in suspicious transactions. Johnson Controls has settled an FCPA probe into its conduct in China for $14 million.
China censors have removed online references to a rare beetle named after President Xi Jinping, in honor of his anti-corruption campaign.