AML + CTF

Hong Kong Takes a Step Closer to Enabling Stablecoins
Hong Kong Takes a Step Closer to Enabling Stablecoins 1400 788 Hauzen

Introduction The Hong Kong Monetary Authority (“HKMA”), in collaboration with the Financial Services and the Treasury Bureau (“FSTB”), released a public consultation paper on 27 December 2023 outlining a legislative…

gold

Hong Kong Registration Regime for Precious Metals & Stones Dealers
Hong Kong Registration Regime for Precious Metals & Stones Dealers 1200 675 Nigel Binnersley
Need help with your application for appropriate registration or advice generally on dealing in PMS such as contractual documentation?

Hong Kong Court of Final Appeal Upholds Validity of Letter of No Consent Regime
Hong Kong Court of Final Appeal Upholds Validity of Letter of No Consent Regime 1400 788 Hauzen
The CFA decision provides relief to fraud victims and clarity to asset tracing practitioners, reinforcing Hong Kong’s reputation as a global financial centre.

Recent Enforcement Actions on Money Service Activities
Recent Enforcement Actions on Money Service Activities 1400 788 Hauzen
Efficient and sufficient record-keeping is essential to effective AML/CFT compliance for MSOs, and the C&ED expects adherence with all applicable requirements.

HKMA’s Circular on Access to Banking Services
HKMA’s Circular on Access to Banking Services 1400 788 Byron Chow
Advancing financial inclusion and customer fair treament while authorized institutions adopting a proportionate and effective risk-based approach to AML & CFT.

Passage of AML and CTF (Amendment) Bill 2022
Passage of AML and CTF (Amendment) Bill 2022 1400 788 Hauzen
The amended AMLCTFO will come into effect in phases in 2023Q2 to provide industries concerned with sufficient time to prepare for new regulatory requirements.

SFC Suspends RO of Rifa Futures Ltd for Breach of KYC, AML & CFT Reqs
SFC Suspends RO of Rifa Futures Ltd for Breach of KYC, AML & CFT Reqs 1401 786 Hauzen
SFC taking much stronger approach against failure to adhere to KYC, AML & CFT standards. Mere for-show due-diligence and monitoring checks will not suffice.

SFC Finds Deficiencies in LC’s Standards
SFC Finds Deficiencies in LC’s Standards 1401 786 Hauzen
Are you an LC providing online brokerage, distribution / advisory services in Hong Kong? SFC has a reminder on regulatory standards for you!

Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances
Insurance Authority Reprimands & Fines Insurer for Contraventions of AML & CTF Ordinances 1400 788 Hauzen
MetLife (now FWD Life) & Metropolitan Life Insurance (now FWD Life Assurance) fined HK$7 million. It is clear that the IA takes these failures very seriously.

High Court Finds “No Consent Regime” Unlawful
High Court Finds “No Consent Regime” Unlawful 1401 786 Kelly Ho
While the implications of this decision remain to be seen, victims of fraud are still recommended to make a police report in any event.
Back to top
Privacy Preferences

When you visit our website, it may store information through your browser from specific services, usually in the form of cookies. Here you can change your Privacy preferences. It is worth noting that blocking some types of cookies may impact your experience on our website and the services we are able to offer.  View our Legal Notices

For performance and security reasons we use Cloudflare
required
Click to enable/disable Google Analytics tracking code.
Click to enable/disable Google Fonts.
Click to enable/disable Google Maps.
Click to enable/disable video embeds.
Our website uses cookies, including from 3rd party services. Define your Privacy Preferences and/or agree to our use of cookies.