Regulatory Alerts2026-05-27
Added · Updated
Guidance on Banking Services for Individuals with Higher Risk Profiles
The Hong Kong Monetary Authority issued this circular to guide Authorized Institutions on providing banking services to individuals assessed as presenting higher risks due to factors such as past convictions or ongoing investigations. The regulator requires institutions to adopt a risk-based approach that balances anti-money laundering safeguards with financial inclusion, encouraging the provision of basic banking services to higher-risk residents in Hong Kong on a case-by-case basis. Authorized Institutions must revise their policies to avoid one-size-fits-all treatments, implement appropriate limitations and scrutiny, and maintain clear communication with customers regarding the nature and scope of the services offered.