Hong Kong: Revised HKMA Guidelines on AML/CFT to Take Effect from November

No Comment 21 Views

The HKMA (Hong Kong Monetary Authority) has published in the gazette revised AML/CFT Guidelines for authorised institutions and SVFs (stored value facilities), both set to take effect from 1 November 2018.

This comes as Hong Kong is set to undergo a mutual evaluation in next month to assess the effectiveness of its implementation of FATF (Financial Action Task Force) standards. The SFC (Securities and Futures Commission) has also released a revised version of its own AML/CFT Guideline, gazetted on 19 October and set to take effect in November.

The amendments to the AML/CFT Guidelines aim to better align them with the latest international requirements, such as FATF recommendations to include a new category of international organisation PEPs (politically exposed persons).

Read the original article here: regulationasia.com


Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions