Regulatory Alerts2014-12-30
Added · Updated
HKMA AML/CFT Web Page and Revised Approach to Inform AIs of UN Sanctions Updates
The Hong Kong Monetary Authority is consolidating all anti-money laundering and counter-financing of terrorism information into a single dedicated web page effective 1 January 2015. This initiative streamlines the notification process by uploading summary records of United Nations sanctions updates to a specific subpage and sending direct emails to Authorized Institutions on the date of gazettal. The regulator maintains its expectation that Authorized Institutions screen new designations against their client lists as soon as practicable after such updates are issued.