On April 30, the Hong Kong Financial Services and the Treasury Bureau has released the Money Laundering / Terrorist Financing (ML/TF) Risk Assessment Report.The report examines ML/TF threats and vulnerabilities facing Hong Kong and the steps taken to the remediate ... Read More →
Hong Kong
Hong Kong Police and SFC to join forces against financial crime
Hong Kong - The Securities and Futures Commission (SFC) and the Hong Kong Police (HKP) signed a Memorandum of Understanding (MoU) on 25th August 2017 to formalise and strengthen cooperation in combating financial crime.Hong Kong operates the sixth largest stock ... Read More →
Hong Kong launches new Fraud and Money Laundering Intelligence Taskforce (FMLIT)
Hong Kong - The Hong Kong Police Force (HKPF) in collaboration with the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks (HKAB) and several banks launched a 12-month pilot project named the Fraud and Money Laundering Intelligence Taskforce (FMLIT) ... Read More →
Coutts & Co AG Fined SG$1.3m for Failing to Identify PEPs
Hong Kong Monetary Authority (HKMA) has fined Coutts & Co AG, Hong Kong Branch, HK$7 million (SG$1.3 million) for contravening provisions in the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance. This is a result of an ... Read More →
