Edmund Ho Hau Wah, chief executive of the Macao Special Administrative Region (MSAR), on Wednesday pledged to fight money laundering in the SAR.

In a press release issued by the Information Bureau, Ho stressed that the Macao government had done a lot to tackle money laundering in accordance with international regulations and practice.

He said a legislation draft against money laundering will be proposed to the Legislative Assembly for approval, according to the release.

United States Treasury Under Secretary for Terrorism and Financial Intelligence (TFI), Stuart Levey, recently alleged that a Macao-based bank, namely Banco Delta Asia, had aided the Democratic People's Republic of Korea (DPRK) in a series of money-laundering cases.

(Xinhua News Agency September 22, 2005)