Speaking at the commencement of the plenary meeting of the Financial Action Task Force in Hong Kong, SAR Chief Secretary, Donald Tsang, revealed that around $2.3 billion in laundered assets has been seized by the jurisdiction's government over the past few years.
Mr Tsang promised delegates attending the international anti-money laundering conference that his country would continue the fight against terrorist financing, money laundering, and tax evasion.
'When our statutory framework is further strengthened, we expect to be able to cut off even more avenues for laundering money,' he explained. 'We realize that Hong Kong, as a major international financial centre and arguably the world's freest economy, must rely on the integrity of its financial system and its robust and comprehensive anti-money laundering regime,' he added.
It is expected that the government of Hong Kong will propose new laws early this year to block funding to all terrorist groups, and to organisations and individuals suspected of having links to them.
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