Regulatory Alerts2018-03-22
Added · Updated
Enhanced Competency Framework on Anti-Money Laundering and Counter-Financing of Terrorism
The Hong Kong Monetary Authority issued this circular on March 22, 2018, to establish an enhanced competency framework for anti-money laundering and counter-financing of terrorism. The document mandates that all authorized institutions implement specific competency standards to strengthen their capacity building and compliance capabilities. This regulatory update supersedes previous guidelines to ensure a more robust approach to financial crime prevention across the banking sector.
Topics
Share