Amendments to Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Authorized Institutions)

Tel : (852) 2878 1095 Fax : (852) 2878 2442 E-mail : smcglynn@hkma.gov.hk Enforcement and AML Department 法 規 及 打 擊 清 洗 黑 錢 部 Our Ref.: B10/1C B1/15C 25 May 2023 The Chief Executive All Authorized Institutions Dear Sir/Madam, Amendments to Guideline on Anti-Money Laundering and Counter￾Financing of Terrorism (For Authorized Institutions) I am writing to inform you that, following an industry consultation, the Hong Kong Monetary Authority (HKMA) published in the Gazette today (G.N. 3117 of 2023) the revised Guideline on Anti-Money Laundering and Counter￾Financing of Terrorism (For Authorized Institutions) (AML/CFT Guideline) under section 7 of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) and section 7(3) of the Banking Ordinance. The revised AML/CFT Guideline will be effective on 1 June 2023. Authorized institutions (AIs) should review the revised AML/CFT Guideline and implement appropriate measures, consistent with the risk-based approach. On-line access to the revised AML/CFT Guideline is available on the HKMA website (https://www.hkma.gov.hk/eng/key-functions/banking/anti-money￾laundering-and-counter-financing-of-terrorism/) and supervisory communication website (http://www.stet.iclnet.hk). The consultation conclusions summarising the key comments received during the consultation, together with a marked-up version of the revised AML/CFT Guideline are attached to this letter and can also be found on the HKMA’s website. /… page 2

• 2 - If you have any questions relating to the Guideline, please contact us at aml@hkma.iclnet.hk. Yours faithfully, Stewart McGlynn Acting Executive Director (Enforcement and AML) Encl c.c. The Chairman, The Hong Kong Association of Banks The Chairman, The DTC Association The Chairman, Private Wealth Management Association Financial Services and the Treasury Bureau (Attn: Mr Justin To)