Regulatory Alerts2020-07-30
Added · Updated
Coronavirus Disease (COVID-19) and Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Measures – An Update
The Hong Kong Monetary Authority issued this circular to update authorized institutions on anti-money laundering and counter-financing of terrorism controls during the coronavirus pandemic. It requires institutions to apply specific AML/CFT measures in response to the challenges posed by COVID-19, as detailed in the accompanying annex. The guidance addresses regulatory expectations for financial institutions to maintain robust compliance frameworks while adapting to operational disruptions caused by the health crisis.
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