Regulatory Alerts2018-04-12
Added · Updated
Feedback from Recent Thematic Review of AIs’ Sanctions Screening Systems
The Hong Kong Monetary Authority issued this circular to share key observations and good practices identified during a thematic review of Authorized Institutions' financial sanctions screening systems. AIs are required to adopt appropriate good practices, perform gap analyses, and implement regular system testing with robust reporting to senior management. The regulator will collect individual action plans in the third quarter of 2018 and may conduct further risk-based reviews based on the results.