Regulatory Alerts2016-03-18
Added · Updated
Combating Financing of Weapons of Mass Destruction Activities
The Hong Kong Monetary Authority issued this circular to alert authorized institutions to United Nations Security Council Resolution 2270 and the resulting updates to sanctions against the Democratic People’s Republic of Korea. The regulator requires institutions to screen all clients against newly designated entities and report any transactions involving these parties to the Joint Financial Intelligence Unit. Additionally, authorized institutions are reminded that providing services to customers suspected of weapons of mass destruction proliferation constitutes a criminal offence under local ordinance.
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