China | FinTelegram News

Category: China

September 15, 2024

China Targets Crypto Money Laundering with New Law Revision

The adoption of crypto is evident, not least from the use of cryptocurrencies for illegal activities and money laundering. This is increasingly becoming a problem for the authorities. China's new law revision aims to tackle cryptocurrency-enabled money laundering by introducing stricter provisions and predicate offenses, aligning with global AML standards.

September 5, 2024

New York Seafood Exporter and Wife Charged in Major Money Laundering and Acting as an Undisclosed Agent of China!

The US DOJ announced that Christopher Hu, owner of the New York-based seafood company Foodie Fisherman, and his wife, Linda Sun, have been charged with serious crimes, including money laundering and acting as agents for Chinese. Linda Sun, a former aide to New York Governor Kathy Hochul, allegedly used her political position to act as an undisclosed Agent of China and the Chinese Communist Party (CCP).

June 19, 2024

U.S. Prosecutors Unveil the Sinaloa Cartel’s Alliance with Chinese Money Launderers

A recent investigation by the U.S. Department of Justice (DOJ) has exposed a sophisticated money laundering scheme involving the Sinaloa Cartel and Chinese underground banking networks. This extensive operation, known as "Operation Fortune Runner," highlights the intricate methods used to launder drug trafficking proceeds. The DOJ's 10-count superseding indictment charges 24 individuals associated with the Sinaloa Cartel and Chinese underground banking groups.

Google Battles CFPB: Tech Giant Fights Back Against Federal Oversight in Payments Showdown

The U.S. Consumer Financial Protection Bureau (CFPB) has placed Google Payment Corp. under federal supervision, citing concerns over its error resolution and fraud prevention processes. This decision follows nearly 300 consumer complaints alleging issues such as inadequate investigation of fraudulent charges and insufficient explanations of investigation outcomes.

Wirecard Scandal Reignites: Markus Braun’s Release Demanded Amid Espionage Revelations

In light of recent court findings across multiple jurisdictions, it has become increasingly clear that the ongoing trial of former Wirecard CEO Markus Braun may be fundamentally flawed. The crux of this issue lies in the apparent failure to fully incorporate the now-established activities of fugitive ex-COO Jan Marsalek into the proceedings. This not only jeopardizes the fairness of Braun's trial but also risks obscuring the true nature and extent of the Wirecard scandal.

TikTok Takedown: America’s Digital Iron Curtain or Silicon Valley’s Secret Weapon?

The recent ruling by the U.S. Court of Appeals for the District of Columbia Circuit has sent shockwaves through the social media industry, upholding a law that could effectively ban TikTok in the U.S. The ruling cited national security concerns. This decision marks a significant escalation in the ongoing tension between the U.S. government and Chinese-owned tech companies.

Truong My Lan: A Tycoon’s Fall from Grace and Vietnam’s $44 Billion Financial Scandal!

The dramatic downfall of Truong My Lan, one of Vietnam’s most prominent property magnates, has sent shockwaves through the country's financial and political systems. The 68-year-old former billionaire is at the center of one of the largest financial frauds in history, a scandal that has not only exposed vulnerabilities in Vietnam’s economy but has also highlighted the intricate relationship between business and politics in the country.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.