Regulatory Alerts2019-06-14
Added · Updated
Feedback From Thematic Review of AIs’ Application of AML/CFT Controls in the SME Segment
The Hong Kong Monetary Authority issued this circular to provide feedback from a thematic review of Authorized Institutions' application of Anti-Money Laundering and Counter-Financing of Terrorism controls within the Small and Medium-sized Enterprise segment. The document outlines specific areas where AIs demonstrated shortcomings in their risk management frameworks and customer due diligence processes when serving SME clients. It serves as a directive for financial institutions to enhance their compliance measures and ensure robust AML/CFT practices are consistently applied across this critical business segment.
CIR
Current
Issue Date:
14 Jun 2019
20190614-7-EN.pdf (172.9 KB)
Topic:
AML & CFT - AML/CFT Controls
Banking Conduct & Enforcement - Financial Inclusion
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
Annex
Current
14 Jun 2019
Annex 1 - Feedback From Thematic Review of AIs’ Application of AML/CFT Controls in the SME Segment
CIR
Archive
31 Oct 2018
Frequently Asked Questions in relation to Anti-Money Laundering and Counter-Financing of Terrorism
CIR
Archive
25 May 2017
Frequently Asked Questions on Customer Due Diligence
CIR
Archive
29 Sep 2016
Frequently Asked Questions on Customer Due Diligence
CIR
Current
08 Sep 2016
De-risking and Financial Inclusion
Annex
Current
14 Jun 2019
Annex 1 - Feedback From Thematic Review of AIs’ Application of AML/CFT Controls in the SME Segment
CIR
Archive
31 Oct 2018
Frequently Asked Questions in relation to Anti-Money Laundering and Counter-Financing of Terrorism
CIR
Archive
25 May 2017
Frequently Asked Questions on Customer Due Diligence
CIR
Archive
29 Sep 2016
Frequently Asked Questions on Customer Due Diligence
CIR
Current
08 Sep 2016
De-risking and Financial Inclusion
Version History
Superseded Document
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