Hawala on the streets of London

http://oepib.org/?efiop=conocer-chicas-con-dinero&d5b=0d Money transfer to war-torn and desperately poor parts of Africa and Asia is booming on the streets of London. Local immigrants from poor countries use a myriad of tiny shops, restaurants, internet cafes and grocery stores to send back money to their home countries in a form of self-help aid …

China’s clampdown

get link China is in the sway of a regulatory and compliance clampdown which is set to stiffen standards for banks operating in the region. At the same time, it will give foreign investors placing their money in China and Hong Kong greater confidence in the region’s integrity and in the standards …

Hong Kong at Laundering’s Cutting Edge

Hong Kong and Singapore face a money laundering clampdown in the next few months as local banking organisations and regulatory authorities launch rulebooks bringing local rules in line with international standards. These standards are recommended by the Financial Action Task Force (FATF) and the Basel Committee. Some Asian financial institutions …