Regulatory Alerts2023-11-07
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 those under increased monitoring. Institutions must continue applying enhanced due diligence and countermeasures to Iran, the Democratic People’s Republic of Korea, and Myanmar. The circular also highlights FATF outcomes regarding non-profit organizations and cyber-enabled fraud, directing firms to consult relevant best practices and previous HKMA guidance.