New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.
May 9, 2023Deputy chief Arthur Yuen said the HKMA expects regulated VASPs to be able to open a bank account in Hong Kong through a reasonable process.
April 28, 2023The PhilSys national digital ID system is acceptable for e-KYC, provided it is supported by "robust technology, adequate governance, processes, and procedures".
April 8, 2023The guidance will assist policymakers and practitioners to prevent bad actors from using shell companies for illicit activity.
March 13, 2023Guidance is offered to reduce the burden on legitimate private banking customers trying to use banking services in Hong Kong.
March 8, 2023Circular sets out expectations for FIs to review their existing controls to ensure they remain adequate to mitigate ML/TF risks in wealth management.
March 6, 2023Participating banks will be able to perform assessments of their customers using information available at any other bank using the new platform.
March 4, 2023The personal finance company's AML/CTF programme was not properly implemented and did not include sufficient details on transaction monitoring and CDD.
February 23, 2023New FinCEN alert lists potential red flags and typologies involving attempted sanctions evasion in the CRE sector by sanctioned Russians and their proxies.
January 30, 2023Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.
January 19, 2023