WEDNESDAY, AUGUST 10, 1983
IN ADDITION, ARGUMENTS HAD BEEN ADVANCED THAT IT WOULD INFRINGE UPON THE RIGHTS AND THE FREEDOM OF THE CUSTOMERS OF FINANCIAL INSTITUTIONS IN HONG KONG.
MR BROWN SAID: +DECLARING MY INTEREST AS THE CHAIRMAN OF THE HONG KONG ASSOCIATION OF BANKS, I CAN SAY THAT THE BANKING INDUSTRY DOES NOT SHARE THESE VIEWS, NOR DOES IT BELIEVE THE OTHER ARGUMENTS PUT FORWARD HAVE ANY SUBSTANCE.
+ IN THE FIRST INSTANCE THE ONLY PERSONS WHO CAN BE AFFECTED BY THIS LEGISLATION ARE THOSE SUSPECTED OF HAVING COMMITTED AN INDICTABLE OFFENCE, AND EVEN THEN THE POLICE FORCE IS ONLY EMPOWERED TO ENQUIRE WHETHER A BANK OR A DEPOSIT-TAKING COMPANY MAINTAINS AN ACCOUNT OR HOLDS ARTICLES IN SAFE CUSTODY FOR THE SUSPECTED PERSON.+
HE POINTED OUT THAT SAFEGUARDS AGAINST ABUSE WERE BUILT INTO THE BILL INSOFAR THAT THE COMMISSIONER OF POLICE MAY ONLY DELEGATE HIS POWERS TO OFFICERS OF THE RANK OF ASSISTANT COMMISSIONER OR ABOVE.
IT IS ONLY WHEN OFFICERS OF THIS SENIOR RANK ARE SATISFIED THAT A SUSPECT HAS COMMITTED AN INDICTABLE OFFENCE THAT THE IR APPROVAL CAN BE GIVEN TO MAKE ENQUIRIES.
MR BROWN SAID: +IT SEEMS TO BE A COMMON BELIEF THAT PROCEEDS OF CRIMES ARE LAUNDERED THROUGH ACCOUNTS HELD IN BANKS AND DEPOSIT- TAKING COMPANIES IN HONG KONG, ALTHOUGH THERE IS VERY LITTLE REAL EVIDENCE THAT THIS IS DONE ON ANY SIGNIFICANT SCALE.
+HOWEVER, IT WOULD BE SILLY TO SUGGEST THAT THIS DOES NOT HAPPEN IN SOME CASES, AND OUR FINANCIAL INSTITUTIONS ARE MORE THAN HAPPY TO CO-OPERATE WITH THE POLICE FORCE IF IT ASSISTS IN THEIR FIGHT AGAINST CRIME.
+SHOULD THIS BILL RESULT IN CRIMINALS BEING LESS WILLING TO CONDUCT_THEIR BUSINESS THROUGH HONG KONG, THEN THE ONLY BUSINESS WE WOULD LOSE IS BUSINESS WE WOULD RATHER NOT HAVE.+
MISS TAM SAID1 +IN EXAMINING THE CONTENTS AND PROPOSALS IN THIS BILL, THE LEGISLATION SCRUTINY GROUP MEMBERS HAVE TAKEN PARTICULAR CARE TO ENSURE THAT THE POLICE IS NOT GIVEN EXCESSIVE POWER AND THAT ANY DANGER OF ABUSE SHOULD BE REDUCED TO THE MINIMUM.
*ON THE OTHER HAND, CRIME DETECTION HAS TO BE BACKED UP BY PROPER AUTHORITY IN ORDER TO BE EFFECTIVE IN ITS OPERATION.+
THE SAFEGUARDS AGAINST ABUSE INCLUDE:
* BEFORE THE COMMISSIONER OF POLICE CAN ISSUE A NOTICE
TO THE BANK OR DEPOSIT-TAKING COMPANY, THERE HAS TO BE EVIDENCE TO SHOW AN INDICTABLE AND THEREFORE SERIOUS OFFENCE (1.E. AN OFFENCE PUNISHABLE BY THREE YEARS IMPRISONMENT OR MORE ON CONVICTION) HAS BEEN COMMITTED.
* THERE IS A PARTICULAR PERSON SUSPECTED OF HAVING COMMITTED
THAT OFFENCE.
/* THE DISCLOSURE
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