Tung Stress HK's Commitment to Fight Against Terrorism

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Last updated at: (Beijing Time) Friday, February 01, 2002

Tung Stress HK's Commitment to Fight Against Terrorism

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Hong Kong's membership and leading role in the Financial Action Task Force (FATF) demonstrate its commitment to international cooperation in fighting against all forms of organized crime and terrorism, said Chief Executive Tung Chee Hwa Thursday.

Speaking at a reception for FATF delegates, Tung said Hong Kongstands firmly with the international community's efforts to fight terrorism because it is the right thing to do and terrorism must be eradicated.

"We are proud to be able to play our part as good citizens of world community," he said. "We have deep interest in taking this role seriously, for we realize that if we are to move forward as amajor international financial center, our integrity in upholding the rule of law and maintaining a fair and open financial system must be beyond reproach."

A plenary meeting of the 29-member FATF opened Wednesday in Hong Kong. The three days' talks aims to block the flow of funds to terrorist organizations and review compliance with eight special recommendations adopted in the aftermath of the September 11 terror attacks in the United States.

It is the first time that Hong Kong is presiding over the FATF since it became the group's member in 1990.

Hong Kong is also a founding member of the Asia/Pacific Group on Money Laundering.

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