Regulatory Alerts2022-12-07
Added · Updated
Circular on AML/CFT Controls for All Authorized Institutions
The Hong Kong Monetary Authority issued this circular on December 7, 2022, to provide guidance on Anti-Money Laundering and Counter-Terrorist Financing controls. The document applies to all Authorized Institutions and addresses the passage of the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022. It references related guidance on risk-based controls for politically exposed persons and the adoption of artificial intelligence in fighting financial crime.