Regulatory Alerts2018-10-19
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Supervisory Policy Manual SPM AML-1: Supervisory Approach on Anti-Money Laundering and Counter-Financing of Terrorism
The Hong Kong Monetary Authority issued Supervisory Policy Manual SPM AML-1 to articulate its risk-based supervisory approach for Authorized Institutions regarding anti-money laundering and counter-financing of terrorism controls. Published as statutory guidance under the Banking Ordinance, this module aims to enhance policy transparency by outlining the regulator's expectations for AIs' policies, procedures, and controls. The HKMA explicitly states that this publication does not introduce any new regulatory requirements for institutions but serves to clarify the supervisory framework.
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