Huawei chief financial officer arrested in Vancouver - Telco/ISP - Finance - Security

Huawei CFO Wanzhou Meng arrested in Vancouver, faces extradition to U.S.

The United States is working to extradite Meng Wanzhou from Canada, according to a Canadian official, for alleged violations of Iranian sanctions, The Wall Street Journal reported.

The arrest of Wanzhou also adds pressure on Huawei, which has faced worldwide backlash, with a number of nations banning the use of Huawei gear for 5G rollouts. She will have a bail hearing on Friday, he said.

"As there is a publication ban in effect, we can not provide any further detail at this time", department spokesperson Ian McLeod said in a statement to the newspaper.

The report states that Meng is accused of violating the current USA trade embargo against Iran.

The report said the USA had been keeping a close eye on Huawei's alleged shipping of United States products to Iran and other countries in violation of sanction laws.

The investigation into Huawei is similar to that which led to the near-downfall of its domestic competitor, Chinese smartphone maker ZTE.

A USA judge last month issued an order finding that China's ZTE Corp violated probation imposed in March 2017 when the company pleaded guilty for conspiring to evade US sanctions by illegally shipping US goods and technology to Iran.

Meng, 46, has been the CFO of Huawei Technologies since 2011 and vice chair of the company since March 2018.

The US Justice Department declined to comment. "The ban was sought by Ms. Meng".

US, Canada, Mexico sign new trade pact
Trudeau echoed Trump's message, saying the new pact protects the middle class in Canada and generates new business opportunities. Legislatures from Mexico and Canada, as well as Congress, must approve the deal before it is finalized.

China's embassy in Ottawa issued a swift reaction to the news, calling for Meng's release.

"The company believes the Canadian and USA legal systems will ultimately reach a just conclusion".

News of the arrest came on the same day that BT announced it would be removing Huawei-manufactured equipment from its 3G and 4G mobile networks.

The news of the arrest broke today.

The United States and Australian governments have long expressed concerns about the security implications of using telecommunications equipment from China.

In 2017, ZTE pleaded guilty in US federal court to evading USA embargoes on Iran, by buying American tech parts, incorporating them into ZTE equipment, then illegally shipping them to Iran. Huawei has denied the links.

The U.S.is anxious about the extent to which Chinese-made equipment is used in the telecommunications sectors of countries that host American military bases.

Although Huawei sought to distance itself from Skycom, investigative journalists found close connections between the two companies.

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