Regulatory Alerts2017-10-11
Added · Updated
Guideline on Anti-Money Laundering and Counter-Terrorist Financing – Address Verification Requirements
The Hong Kong Monetary Authority issued this guideline to establish address verification requirements for Anti-Money Laundering and Counter-Terrorist Financing controls. It mandates that all Authorized Institutions implement robust procedures to verify the residential or business addresses of their customers. The document serves as a regulatory standard to ensure effective customer due diligence and mitigate financial crime risks.