Regulatory Alerts2021-03-10
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Statements issued by the Financial Action Task Force
The Hong Kong Monetary Authority updates authorized institutions on FATF statements regarding high-risk jurisdictions and jurisdictions under increased monitoring. Due to the pandemic, the FATF paused reviews for high-risk lists, requiring institutions to maintain enhanced due diligence measures for Iran and North Korea. The letter also highlights FATF outcomes on developing new guidance for proliferation financing risk assessment and mitigation, with a public consultation deadline of 9 April 2021.
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