Regulatory Alerts2020-11-11
Added · Updated
Circular on Statements Issued by the Financial Action Task Force
The Hong Kong Monetary Authority updates Authorized Institutions on FATF statements regarding high-risk jurisdictions and outcomes from its October 2020 virtual plenary. The circular confirms a pause in the FATF's review of high-risk lists, requiring continued enhanced due diligence for Iran and North Korea, while directing attention to the updated list of jurisdictions under increased monitoring. Additionally, it notes FATF amendments to Recommendations on proliferation financing risks, prompting the HKMA to study local implementation and consult the sector in due course.
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