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.
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.
Jan 4, 2021
Venmo has launched a new feature of its money-moving app that lets users deposit checks directly into their Venmo accounts, bypassing their usual bank. The service incurs a 1% fee, although Venmo is temporarily waiving that fee for government stimulus checks.
Mar 16, 2021
Chinese telecom giant Huawei announced plans to be more aggressive about collecting royalties for its patents related to 5G technology, including collecting up to $2.50 per 5G smartphone sold. Huawei has over 3,000 patents related to 5G, about 18% of which are essential to the 5G standard, according to intellectual property research organization GreyB.
Aug 12, 2021
A bipartisan group of three US Senators has introduced new legislation that would place major new rules on the app stores run by Apple and Google. The Open App Markets Act would: Ensure users could access third-party app stores and make them the default.
Sep 1, 2021
Starting early next year, Apple will allow media player apps like Spotify and Netflix to direct new users to subscribe via their own web sites and third-party payment systems. Previously, Apple required such apps to use Apple's payment system, where Apples takes a cut of up to 30%.