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Macau and Kong Kong highest money launderers in Asia Pacific Region.

According to a survey made by PricewaterhouseCoopers PwC , money laundering is strongest  in Macau and Hong Kong than in other parts in Asia, with rates far above the global average.

A poll by PwC found that near 4 out of 10 companies in Hong Kong and Macau, 37% of mainly banks and casinos, experienced money laundering during 2012 and 2013.

That is a correlation of 4 to 1, compared with other regions. The global average is 11 %, the Asia-Pacific average of 11 per cent, Singapore’s 5 per cent and mainland China’s 4 per cent.

Hong Kong had the highest reported rate of money laundering in Asia and the ninth highest globally, behind Britain, South Africa, the Czech Republic, Russia, Zambia, Australia, Kenya and Ukraine.

PwC surveyed over 5000 executives (to be exact 5,128 company executives) from near 100 countries and territories, including 116 respondents in Hong Kong and Macau, of whom half part worked for stock exchange listed companies.

The reason behind this situation is the high concentration of banks & financial services in Hong Kong and gaming/casinos in Macau, and the closeness.

Hong Kong courts convicted 140 people of money laundering last year, 166 in 2012 and 246 in 2011.