Illegal funds frozen in Hong Kong up 60 per cent, ICAC says as it prepares to host global conference on financial fraud
More than 240 experts from 100 international agencies are expected to attend talk on increasingly complex money crimes
The amount of criminal proceeds frozen has soared by more than 60 per cent year-on-year, according to figures by Hong Kong’s Independent Commission Against Corruption (ICAC).
The anti-graft agency is set to host a two-day international conference starting Tuesday on dealing with increasingly complex financial fraud.
The conference, titled “Cutting the Financial Vein of the Corrupt”, is expected to be attended by more than 240 experts in financial investigation and anti-corruption from 100 agencies around the world.
It will be held at the ICAC headquarters in North Point.
The experts, including 16 from the mainland China, will exchange views on the latest trends of financial fraud.
ICAC figures showed that in 2016, a total of about HK$32 million of crime proceeds were frozen, in addition to HK$889 million confiscated. In 2015, the figures were HK$19.7 million and HK$231 million respectively.