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 on 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 regulatory expectations and areas for improvement regarding risk assessment and due diligence processes tailored to SME clients. It serves as a directive for all Authorized Institutions to enhance their compliance frameworks to better address money laundering and terrorist financing risks associated with this customer base.
CIR
Current
Issue Date:
14 Jun 2019
20190614-8-EN.pdf (190.8 KB)
Topic:
AML & CFT - AML/CFT Controls
Banking Conduct & Enforcement - Financial Inclusion
Keyword:
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
CIR
Current
14 Jun 2019
Feedback From Thematic Review of AIs’ Application of AML/CFT Controls in the SME Segment
CIR
Current
14 Jun 2019
Feedback From Thematic Review of AIs’ Application of AML/CFT Controls in the SME Segment
Cross referenced Document
Version History
Superseded Document
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