Underground Banking
Underground Banking is unlicensed value-transfer networks operating outside formal banking and regulatory systems.
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Financial Crime
FATF Finds Underground Banking and Hawala Key Channels for Professional Money Laundering
The Financial Action Task Force (FATF) published a new report on 3 September 2026 examining how underground banking, hawala and other similar service providers are…
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Enforcement & Cases
Hong Kong Jails Asset Manager for Laundering More Than HK$64 Million
Hong Kong has sentenced asset management firm owner Xiao Rui to six years and nine months for laundering more than HK$64 million and using false…
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