Regulatory Alerts2020-04-07
Added · Updated
Coronavirus disease (COVID-19) and Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) measures
The Hong Kong Monetary Authority issued this guidance to support Authorized Institutions in managing money laundering and terrorist financing risks during the COVID-19 pandemic. The regulator encourages the use of remote on-boarding and simplified due diligence for low-risk scenarios, such as government cash payout schemes, while maintaining vigilance against emerging fraud and exploitation scams. Furthermore, the HKMA applies flexible supervisory tools and expects institutions to record any short-term operational impacts rather than demanding zero failure outcomes in AML/CFT compliance.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share