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HK & North Korea's Money Laundering Operations...

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  1. #1

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    HK & North Korea's Money Laundering Operations...

    From CNN:

    Hong Kong is one of two business jurisdictions (along with the British Virgin Islands) where the UN Panel of Experts on North Korea has seen the largest share of North Korean-controlled front companies operating, said Hugh Griffiths, the panel's coordinator.

    "You can just count them up in our reports -- Hong Kong is the preponderance," Griffiths told CNN.

    The city is no stranger to those looking to make a quick buck by skirting the law, whether it was the pirates who roamed the South China Sea in the 16th century or the Triads who spread their tentacles following Chinese Civil War, while the city was still under British control.
    Hong Kong: Where North Korea goes to launder money? - CNN
    Nimitz likes this.

  2. #2

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    Some pointless information for you, I walk past that building every day to and from work and can see it from my office window.


  3. #3

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    I supposed this can be Hong Kong's competitive advantage whenever questions are raised about why do business here instead of Shanghai or Singapore.


  4. #4

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    Not to mention that it is good advertising got CHATS transfers which is a purely local USD TX thing that does not route through the US.