Money laundering rife in Macau, Hong Kong: survey

Money laundering is far more prevalent in Macau and Hong Kong than elsewhere around the world, a survey by PwC has found. 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 firms reporting laundering activity. PwC polled over 5,000 executives from 95 countries and territories, including 116 respondents in Hong Kong and Macau, 49 percent of whom worked for listed companies.