Regulatory Alerts2023-02-09
Added · Updated
Optimising Fraud and Financial Crime Detection and Reporting
The Hong Kong Monetary Authority issued this circular on 9 February 2023 to provide guidance on optimizing fraud and financial crime detection and reporting mechanisms. It directs all authorized institutions to enhance their anti-money laundering and counter-terrorist financing controls through improved transaction monitoring and screening processes. The document serves as an enclosure to the revised Guidance Paper on Transaction Monitoring, Screening and Suspicious Transaction Reporting.