InnoXcell TV Episode 1:The Untold Story of Money Laundering
You need only turn on a news channel for a minute or two before reports of financial crime, illicit funds, and money laundering begin to flash on the screen. To put it simply – dirty money is big business; and business is booming on a global scale.
As one of the world’s international finance centres, Hong Kong is an inevitable hub for illicit funds and the processing of laundered money, with an unenviable reputation to match. Recent high profile cases, including the Kwok brothers’ trial and the Carson Yeung case, only serve to illustrate such a point.
The resulting global response has included the inception of an entire industry focusing on anti-money laundering practices, and one which continues to expand at an unprecedented rate, in an effort to reduce and combat money laundering and the proceeds generated from financial crime. But the real story here lies beneath the surface – it lies in the discovery of where the money comes from, and how such proceeds are generated. This is a story that many tend to overlook. This is the story we are looking to tell in the first film of our white-collar crime documentary series.
The chains that exist between financial institutions, regulatory bodies and human slavery are seldom brought to attention. In this documentary, we look at human trafficking as a key source of illegitimate money, and ask who has the power to enact structural change in this realm. We question who has the power to prevent such harmful practices from taking place, and whether the necessary procedures have been adopted.