316 Public Order
Kong Monetary Authority, the Securities and Futures Commission, and the Office of the Commissioner of Insurance.
The FATF and APG have praised Hong Kong for the way it tackles money laundering and terrorist financing. In their latest joint assessment report published in July, they recognised the strengths of Hong Kong's AML/CFT regime, in particular its good legal structure, strong law enforcement efforts, robust and effective supervision of the banking securities and insurance sectors.
The report also cites Hong Kong's efficient co-operation with countries around the world in tackling these two odious problems and its proactive and effective outreaching efforts to raise the private sectors' awareness of these problems.
The report also made suggestions on specific areas Hong Kong should focus on to enhance its AML/CFT regime.
A Central Co-ordinating Committee on Anti-Money Laundering and Counter Financing of Terrorism (CCC) was set up in April. Chaired by the Financial Secretary, the CCC steers and co-ordinates the strategic development of Hong Kong's AML/ CFT regime in line with internationally recognised standards.
In October, the Financial Services and the Treasury Bureau took over the overall co-ordinating role of AML/CFT policies from the ND to respond more strategically to the ever changing trend of money laundering and terrorist financing. The ND will continue to co-ordinate AML/CFT matters for the non-financial sector.
International co-operation is vital in combating transnational crimes such as money laundering. Different government departments continue to provide legal assistance to other jurisdictions in dealing with criminal matters in accordance with bilateral agreements and international agreements. By year-end, Hong Kong had concluded 25 bilateral agreements on mutual legal assistance in criminal matters and 17 bilateral agreements on surrender-of-fugitive-offenders.
Independent Commission Against Corruption
Hong Kong continues to be one of the most corruption-free cities in the world.
It has a clean civil service and an open and fair business environment.
Its anti-corruption agency, the Independent Commission Against Corruption (ICAC) is independent of the civil service and its independence is guaranteed under the Basic Law. Its commissioner is directly accountable to the Chief Executive.
The ICAC's strategy for combating corruption through law enforcement, prevention and education is hailed as a model for weeding out corruption.
The ICAC continues to enjoy strong public support. Its annual survey1 showed 99 per cent of respondents expressing support for the anti-graft agency, 81 per cent trusted the agency's impartiality in conducting investigations and indicated their
The ICAC has commissioned professional research agencies to conduct annual surveys to gauge public opinion on corruption-related issues in Hong Kong.
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