City of secrets: Drugs, money and the law in Hong Kong

This paper describes Hong Kong's firstsuccessful money laundering case, including the key roleplayed by the local subsidiary of the now-defunct Bank ofCredit and Commerce International (BCCI). Hong Kongis revealed to be the organizational and financial lynchpinof a heroin smuggling syndicate st...

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Veröffentlicht in:	Crime, law, and social change law, and social change, 1997-01, Vol.28 (2), p.91-110
1. Verfasser:	Gaylord, Mark S
Format:	Artikel
Sprache:	eng
Schlagworte:	Bank of credit and commerce international Banking industry Banks Bill of Rights-US Captive insurance Criminal liability Currency Drug traffic Drug trafficking Drugs Foreign exchange markets Heroin Hong Kong International aspects International banking Jurisdiction Laundering of money Law Law and order Law enforcement Legislation Money Money laundering Organized crime Smuggling Sociology Sovereignty
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Zusammenfassung:	This paper describes Hong Kong's firstsuccessful money laundering case, including the key roleplayed by the local subsidiary of the now-defunct Bank ofCredit and Commerce International (BCCI). Hong Kongis revealed to be the organizational and financial lynchpinof a heroin smuggling syndicate stretching from SoutheastAsia's Golden Triangle to New York City. In addition,the paper analyzes the development of anti-moneylaundering legislation in Hong Kong and evaluates theformer British colony's prospects for remaining EastAsia's premier offshore finance center following theterritory's return to Chinese sovereignty on July 1, 1997.
ISSN:	0925-4994 1573-0751
DOI:	10.1023/A:1008266402301