The HSBC and Standard Chartered buildings stand illuminated in Central, the commercial heart of Hong Kong, on February 13. Hong Kong’s financial services firms must step up self-policing if the city is to continue to grow and compete with other jurisdictions. Photo: Bloomberg

Hong Kong’s anti-money laundering moves will not work without due diligence from firms

Alain Esseiva says government proposals to introduce legislation to prevent illicit transactions are welcome, but proactive action and vigilance by financial services firms are the best safeguard

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The HSBC and Standard Chartered buildings stand illuminated in Central, the commercial heart of Hong Kong, on February 13. Hong Kong’s financial services firms must step up self-policing if the city is to continue to grow and compete with other jurisdictions. Photo: Bloomberg
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