Hong Kong beefs up anti-money laundering and corporate disclosure laws Hong Kong’s government is in the process of improving its anti-money laundering and corporate disclosure laws in a move that some financial crime experts claim could lead to billions of dollars leaving the island as private companies and boards seek to protect their privacy. The authorities in Hong Kong have been shaken to the core by last year's Panama Papers scandal, which showed that Hong Kong was the most active centre in the world for the development of shell companies. Although shell companies have many legitimate purposes, they can also be utilised to conceal assets and avoid taxes. Although legislative proposals published without any fanfare in January,