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

South China Morning PostCenter-RightEN 1 min read 100% complete by Jess MaFebruary 22, 2026 at 05:00 AM

AI Summary

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In Hong Kong, HK$261 million in suspected criminal proceeds from money laundering and drug trafficking was frozen last year. While HK$869 million in criminal proceeds was confiscated between 2018 and 2024, the annual amount has fluctuated. In 2023, 927 individuals were convicted of money laundering. Authorities say that due to lengthy investigation, trial, and legal procedures, it could take up to seven years for the frozen funds to be deposited into government coffers. The HK$261 million frozen last year excludes HK$2.75 billion allegedly linked to Chen Zhi and his Prince Holding Group.

Key Entities & Roles

Key Player Opposition Context

Fujian 40% Cambodia 40% South China Morning Post 40% Chen Zhi 60% Prince Holding Group 60% Joint Financial Intelligence Unit ×270% Hong Kong ×290%

Keywords

money laundering 100% criminal proceeds 90% asset freezing 80% drug trafficking 70% confiscation 60% government coffers 50% legal procedures 50% financial intelligence 40%

Sentiment Analysis

Negative

Score: -0.20

Source Transparency

Source

South China Morning Post

Political Lean

Center-Right (0.50)

Far LeftCenterFar Right

Classification Confidence

90%

Geographic Perspective

Hong Kong

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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money laundering criminal proceeds asset freezing drug trafficking confiscation government coffers legal procedures financial intelligence

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