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MANILA: The Philippines must relax one of the world’s strictest bank secrecy laws so the government can crack down on suspected cash smuggling being linked to online casinos, Finance Secretary Carlos Dominguez said on Friday (March 6).
MANILA (Bloomberg): The Philippines’ Anti-Money Laundering Council said it has flagged as 'suspicious about 14 billion pesos (US$276 million) worth of transactions linked to online casinos.
HONG KONG: While Beijing has been busily damming up official channels for money to leave China, more than ever is leaking out through shady means as investors flee the country's slowing economy and weakening currency.
BALI: More than US$763,000 (RM3.05mil) was transferred to fund terrorism in Indonesia between 2014 and last year, according to Indonesia’s financial intelligence agency.
AS the China stockmarket hits US$10 trillion for the first time, with an unrivalled growth in dollar terms over a 12-month period, there are questions if a big bubble is forming.
WASHINGTON, Nov 1 (Thomson Reuters Foundation) - Pirates hijacking ships off the Horn of Africa and Somalia from 2005 to 2012 garnered well over a quarter of a billion U.S. dollars in ransom and used the money for criminal activities worldwide, according to a report released on Friday.
WASHINGTON (Reuters) - The United States targeted two Lebanese money exchange houses, accusing them on Tuesday of helping launder funds for an international drug trafficking ring and financing the Lebanese militant group Hezbollah.
WASHINGTON: HSBC Holdings Plc is under investigation by a US Senate panel in a money-laundering inquiry, the latest step in a long-running US effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.
WASHINGTON (Reuters) - The U.S. Treasury Department aims to strengthen efforts to choke off funds for al Qaeda and the Taliban, including more targeting of informal financing networks and cash smuggling, a senior Treasury official said on Thursday.