Features of Hong Kong National Anti-Money Laundering System: Content, Structure, Entities
The problem of countering the legalization (laundering) of the proceeds of crime and the financing of terrorism (AML/CFT) is particularly relevant in Hong Kong, one of the major centers of the underground economy in the Asia-Pacific region. The article explores the economic, legal and institutional content of the national AML/CFT system of Hong Kong, including law enforcement, international cooperation and mechanisms of state control of financial institutions. The author concludes that, despite the high effectiveness of the Hong Kong SAR criminal legislation in preventing financial offenses, the anti-money laundering policy is characterized by serious deficiencies in currency control and financial monitoring of credit organizations.