Hong Kong slams ‘malicious slander’ by US lawmakers over money-laundering claims
Government describes allegations in lawmakers’ letter to US Treasury Secretary Janet Yellen as ‘grossly unfounded’
Hong Kong has hit back at “malicious slander” by American lawmakers who called on US authorities to re-evaluate their treatment of local banks and accused the city of becoming a hub for money laundering and helping authoritarian countries to evade sanctions.
The government on Tuesday said it firmly rejected the joint letter sent to US Treasury Secretary Janet Yellen from members of the House of Representatives, adding that it had no factual basis and smeared Hong Kong’s reputation as an international financial centre.
It said it had been enforcing sanctions imposed by the UN Security Council and maintaining an effective mechanism for implementing its resolutions.
A government spokesman said the city’s national security laws ensured a stable and predictable environment that allowed the economy and companies to thrive, adding that the international business community remained confident in Hong Kong.
“Maintaining the integrity and robustness of our financial systems is high on the [government’s] agenda. Our banks and other financial institutions adhere to international standards and best practices, including those on anti-money laundering and counter-financing of terrorism,” he said.
He added that the Financial Action Task Force, a global money-laundering watchdog, had recognised Hong Kong as overall compliant with relevant international standards.
