Regulatory Alerts2021-11-02
Added · Updated
Circular on FATF Statements on High-Risk Jurisdictions and Plenary Outcomes
The Hong Kong Monetary Authority updates authorized institutions on FATF statements regarding high-risk jurisdictions and outcomes from its October 2021 plenary meeting. Institutions must maintain enhanced due diligence measures for Iran and North Korea while reviewing updated FATF guidance on virtual assets and beneficial ownership transparency. Additionally, authorized institutions are required to assess the impact of recent FATF statements concerning Afghanistan and terrorist financing on their internal AML/CFT policies and controls.