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This is Customs' second confiscation made under the Drug Trafficking (Recovery of Proceeds) (Designated Countries and Territories) Order 1991.
The confiscation is the result of a four-year long joint investigation by the Hong Kong Customs and the US Drug Enforcement Administration into a New York-based international drug trafficking syndicate.
Five principal members of the syndicate in Hong Kong were arrested in 1991. They have been extradited to the US for trial.
The first confiscation case involved HK$2 million in July 1993.
End/Thursday, January 26, 1995
Year of the Traveller 1995 campaign begins
The Customs and Excise Department, in association with the World Customs Organisation, launched the "Year of the Traveller 1995" campaign this (Thursday) evening at a ceremony marking the International Customs Day.
The ceremony, held at the Customs and Excise Service Senior Officers' Mess, was officiated by the Chairman of the Hong Kong Tourist Association, Mr Martin Barrow.
Accompanied by the Commissioner of Customs and Excise, Mr Don Watson, Mr Barrow unveiled a poster for the campaign.
The World Customs Organisation has recommended to its 136 members to launch the "Year of the Traveller 1995" campaign simultaneously on the International Customs Day.
In a welcoming speech, Mr Watson said: "The World Customs Organisation felt that it would be timely in 1995 to make the travelling public more aware of the efforts made by the international customs community to facilitate their journeys with minimum inconvenience, whilst at the same time educating the public of our responsibility to protect society against the illegal movement of restricted goods across international boundaries."
"In other words, we hope to reinforce the spirit of professionalism among our customs officers at points of entry in order to better facilitate entry procedures without sacrificing our enforcement effectiveness.