HK$261 million of frozen crime funds may take 7 years to reach Hong Kong coffers

HK$261 million of frozen crime funds may take 7 years to reach Hong Kong coffers

Hong Kong authorities froze HK$261 million (US$33.4 million) in suspected criminal proceeds linked to money laundering and drug trafficking last year, but experts say it may take as long as seven years for any of the funds to reach government coffers. According to data from the Joint Financial Intelligence Unit, run by police and customs, HK$869 million in criminal proceeds was confiscated between 2018 and 2024, with the annual amount fluctuatin…