Regulatory Alerts2024-07-11
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Statements issued by the Financial Action Task Force
The Hong Kong Monetary Authority updates authorized institutions on FATF statements identifying high-risk jurisdictions and outcomes from the June 2024 Plenary meeting. Institutions must continue applying enhanced due diligence and countermeasures to Iran, the Democratic People’s Republic of Korea, and Myanmar due to strategic deficiencies in their anti-money laundering regimes. The letter also highlights FATF's finalization of guidance on virtual assets and ongoing consultations regarding amendments to payment transparency standards.
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