Regulatory Alerts2023-07-06
Added · Updated
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 2023 Plenary meeting. Institutions must continue applying enhanced due diligence and countermeasures to Iran, North Korea, and Myanmar, while noting the updated list of jurisdictions under increased monitoring. The circular also highlights the FATF's fourth targeted update on virtual asset service providers, emphasizing the implementation of AML/CFT standards including the travel rule.