Work

Stable or Vulnerable? Demystifying an Enigma Facing Hong Kong’s Anti-Money Laundering Efforts

Year: 2025

Type: article

Abstract: This study assesses Hong Kong’s anti-money laundering and counter-terrorist financing (AML/CFT) regime by examining regulatory compliance, prosecution results, supervision of the non-financial sector, and alignment with Financial Action Task Force (FATF) standards. Analysis of 194 jurisdictions with FATF evaluation data (2019–2023) indicates Hong Kong’s technical compliance is high (70/100), but enforcement gaps remain, including limited cross-border prosecutions and inconsistent supervision of the non-financial sector. This study benchmarks AML/CFT measures, underscores the compliance challenges faced by jurisdictions and financial centres, and situates Hong Kong’s issues within the context of global governance using institutional and regulatory theories.

Source: Public Organization Review

DOI: 10.1007/s11115-025-00907-z

Authors: Raymond L. M. Tang, Bo Wen, Paul S. F. Yip

Institutions: University of Hong Kong, University of Macau

Language: English

Topic: Crime, Illicit Activities, and Governance

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: hybrid

Estimated APC paid: $3,190