Regulatory Alerts2016-12-13
Added · Updated
Guide to Enhanced Competency Framework on Anti-Money Laundering and Counter-Terrorist Financing
The Hong Kong Monetary Authority issued this guide to establish the Enhanced Competency Framework on Anti-Money Laundering and Counter-Terrorist Financing, encouraging authorized institutions to adopt it for benchmarking and developing AML/CFT practitioners. The framework defines two qualification levels, Core and Professional, with specific syllabus requirements, training programs, and examinations administered by the Hong Kong Institute of Bankers. It mandates annual certification renewal through Continuing Professional Development and outlines grandfathering provisions for existing staff to ensure a sustainable talent pool in the banking sector.
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