Regulatory Alerts2026-08-28
Added
Guidance on risk-based AML/CFT controls for politically exposed persons
An updated version 2.0 of the "Smart Tips on the Treatment of Politically Exposed Persons (PEPs)" incorporates additional good practices such as setting up a dedicated team to serve PEPs, proactive oversight of frontline staff via regular customer satisfaction surveys and compliance reviews, and holistic relationship-based reviews. Authorized Institutions and Stored Value Facility licensees are expected to consider adopting these updated good practices as part of their ongoing efforts to improve PEP related anti-money laundering and counter-financing of terrorism controls. The Hong Kong Monetary Authority will undertake a round of thematic examinations later in the year to test how effectively these measures have been implemented.