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Senators hear testimony that Hong Kong functions as a sanctions‑evasion and money‑laundering hub
Summary
Witnesses told a Senate subcommittee that evidence exists of Hong Kong companies and transfers supporting sanctions evasion, and urged Congress to consider a primary‑money‑laundering‑concern designation and tighter oversight of financial flows.
WASHINGTON — Witnesses at a Senate subcommittee hearing on July 22 said Hong Kong has become a node for sanctions evasion and money‑laundering activity that can aid regimes such as Russia, Iran and North Korea and recommended targeted measures to disrupt those flows.
Olivia Enos summarized findings from a Committee for Freedom in Hong Kong report, saying the report “goes beyond the headlines” and documents ship‑to‑ship transfers, dual‑use shipments…
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