Money laundering is far more prevalent in Macau and Hong Kong than elsewhere around the world, according to an executive survey conducted by PricewaterhouseCoopers.
The professional services firm says 37 percent of firms in Hong Kong and Macau encountered money laundering in the previous two years. The global average was 11 percent, with 5 percent of Singaporean firms and 4 percent of mainland China firms reporting money laundering activity.
The findings are based on a poll of more than 5,000 executives from 95 countries and territories, including 116 respondents in Hong Kong and Macau, 49 percent with listed companies.
