Regulatory Alerts2022-07-08
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Hong Kong Money Laundering and Terrorist Financing Risk Assessment Report 2022
The Hong Kong Monetary Authority issued the 2022 Hong Kong Money Laundering and Terrorist Financing Risk Assessment Report to guide the banking sector's anti-money laundering efforts amid evolving threats. The report identifies high ML risks driven by fraud, corruption, and tax crimes, while highlighting impacts from digital transformation, virtual assets, and new payment systems. Authorized Institutions are required to study the findings, review their institutional risk assessments, and update risk mitigating measures accordingly.
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