Regulatory Alerts2020-07-17
Added · Updated
Statements issued by the Financial Action Task Force
The Hong Kong Monetary Authority updates authorized institutions on FATF statements regarding high-risk jurisdictions and outcomes from its June 2020 virtual plenary. The regulator confirms that the review process for high-risk and monitored jurisdictions is paused due to the pandemic, requiring institutions to maintain enhanced due diligence measures for Iran and North Korea. Additionally, the document highlights FATF reports on virtual assets and stablecoins, as well as a public consultation on strengthening sanctions compliance for proliferation financing.