Huawei Investigation Suggests Bank Fraud Involving HSBC
Dec 6, 2018, 2:25 PM by Eric M. Zeman
Reuters today reports that the U.S. investigation into Huawei's potential violation of sanctions involves "an alleged scheme to use the global banking system to evade U.S. sanctions against Iran." The U.S. has been looking into Huawei's behavior since 2016, and recently focused on the company's use of HSBC to hide transactions made with Iran. HSBC was itself investigated by the U.S. Attorney's office in Brooklyn for violating sanctions and money-laundering laws, and paid a fine of $1.92 billion in 2012. Reuters' source says HSBC is not under investigation at this time. The U.S. took dramatic action on its investigation when it had Huawei CFO Meng Wanzhou arrested in Canada. Meng is expected to be extradited to the U.S. The U.S. has maintained for some time that Huawei represents a security threat due to its ties with the Chinese government. Representatives from Huawei and HSBC declined to comment on Reuters' story. Earlier this year, China-based ZTE was penalized by the government for similar transgressions involving Iran.
Nov 18, 2020
Google today launched a major revamp of its Google Pay app with a new interface and several major new features. Instead of a stack of cards and list of transactions, the new interface centers around the people and businesses you exchange money with, with a conversation-style interface for each person, group, and business.
Oct 27, 2021
Anker has launched MagGo, a new line of wireless chargers compatible with Apple's MagSafe magnetic wireless charging system, introduced with the iPhone 12 series. The MagGo lineup includes several unique new designs.
Dec 17, 2019
Sprint has joined T-Mobile, Verizon, and AT&T in offering a free service with basic protection against fraud and spam callers. Like the free services already offered by other carriers, Sprint's new Call Screener Basic can block the highest-risk fraud calls, and identify other likely spam calls as they ring.
Nov 17, 2021
Bloomberg reports that Huawei is in talks to license its smartphone designs to other companies. US sanctions have cut Huawei off from critical hardware and software needed to make smartphones, restrictions that might not apply to potential licensees.
Oct 1, 2021
The FCC has proposed new rules for wireless telecom carriers to require best practices for authenticating customers who are attempting to move service to a new phone or new carrier. The rules are an attempt to crack down on SIM swap fraud and port-out fraud, where a bad actor impersonates a wireless customer in order to take over their phone number.