Regulatory Alerts2019-06-28
Added · Updated
Statements issued by the Financial Action Task Force
The Hong Kong Monetary Authority informed authorized institutions of the Financial Action Task Force's June 2019 statements identifying high-risk jurisdictions and plenary outcomes. The directive mandates enhanced due diligence and increased scrutiny for transactions involving Iran, while requiring the termination of correspondent relationships with DPRK banks where mandated by UN resolutions. Additionally, the letter highlights the FATF's ongoing process for jurisdictions with action plans and notes the upcoming publication of the mutual evaluation report for Hong Kong, China.
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