CHINA: China cracks down on smuggling with over 5,700 cases investigated

Anti-smuggling departments of customs across China carried out a series of special campaigns targeting smuggling in 2024, investigating more than 5,700 cases, the Ministry of Public Security said.

About 64 percent of these cases were criminal and involved tax evasion, according to the ministry. The departments focused on key goods such as refined oil, cigarettes and frozen marine products.

As part of these efforts, customs in Fuzhou, Fujian province, cracked a major case of refined oil smuggling.

19 September 2025

SWITZERLAND: Swiss Banks Execute First Cross-Bank Payment on Public Blockchain

Three Swiss banks have successfully conducted the first binding cross-bank payment using tokenized deposits on a public blockchain, marking a significant milestone in traditional finance’s adoption

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25 April 2025

SWITZERLAND: Report accuses Starbucks of tax avoidance through ‘ethical’ Swiss subsidiary

A report accuses Starbucks of shifting $1.3 billion in profits over the past decade to its Swiss subsidiary to avoid higher taxes in other countries.The little-known outfit in Lausanne sources unroasted

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20 April 2024

UK: AML warning as hundreds of agents hit with HMRC fines

An anti-money laundering (AML) expert has queried why there is a reluctance among estate agents to accept and follow AML responsibilities. It comes as HMRC figures showed more than 200 estate agency

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12 June 2024

HONG KONG: Hong Kong International Arbitration Centre unveils new rules

The new 2024 Administered Arbitration Rules of the Hong International Arbitration Centre (HKIAC) came into force on 1 June 2024 and contain significant revisions. The new provisions aim to enhance the

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