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 From Hong Kong's Information Services Department
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January 12, 2006
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Crime

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Estate agents urged to fight money laundering

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Commissioner for Narcotics Rosanna Ure has called for estate agents to back Government action against money laundering.

 

In two briefing sessions organised for real estate agents in the past two days, Mrs Ure spoke about the latest trends in money laundering and its economic impact.

 

She said estate agents can play an active role in curbing the crime. They are among the six categories of designated non-financial businesses and professions regarded as 'gatekeepers' against laundering under revised recommendations the Financial Action Task Force on Money Laundering has issued.

 

Mrs Ure said the task force has launched a new round of evaluations, which includes Hong Kong, to check whether members comply with the latest standards.

 

She said with community co-operation, Hong Kong can comply with the standards and maintain its reputation and status as an international financial centre.