Head of government without a bank account: Carrie Lam stashes “heaps of cash”

Saturday November 28, 2020

It sounds strange: The Hong Kong head of government receives her lavish salary in cash. Because of US sanctions, Carrie Lam’s assets are frozen until further notice. This not only creates compassion on social networks.
Hong Kong’s Prime Minister Carrie Lam no longer has a bank account because of the sanctions imposed on her by the United States and is therefore stashing her cash at home. She has “tons of cash” in the house, Lam said in an interview with TV broadcaster HKIBC. The head of government of the financial metropolis, along with 14 other high-ranking officials in the city, had been the target of US measures after Beijing passed a so-called security law for the special administrative region at the end of June.

With Washington’s move, the US assets of the 15 officials were frozen, and all financial transactions in the US are considered a criminal offense. According to his own account, Lam now uses cash “every day for all things”. “In front of you is a head of government from the Hong Kong Special Administrative Region who has no banking service,” said Lam. Her salary is paid in cash.

With an annual income of 5.21 million Hong Kong dollars (just under 562,000 euros), Lam is one of the highest-paid politicians in the world. Lam’s remarks sparked malicious reactions in online networks: users posted photos of coins in their piggy banks at home to create a contrast to Lam’s wealth. Others asked how their high salary would be transported to their place of residence in cash.