The Hong Kong government has published a press release in which it welcomes the „FATF adoption of Hong Kong’s AML and CFT follow-up report“ (please see Event ID 19675 in this context for the FATF publication).
The government notes that the FATF report reaffirms that Hong Kong’s current AML and CFT regime is „compliant and effective overall“ making it the first jurisdiction to achieve this status in Asia. The latest FATF evaluation encompassed the assessment of Hong Kong’s AML and CFT supervisory practices regarding „non-financial business and profession sectors, in particular trust or company service providers, real estate agents and accountants“. Also assessed were Hong Kong’s supervisory practices regarding virtual asset service providers and precious metal dealers with respect to AML and CFT.
Government welcomes Financial Action Task Force’s adoption of Hong Kong’s anti-money laundering and counter-terrorist financing follow-up report
ID
21927
Other Features
AML
assessment
CFT
companies
compliance
investor protection
real estate
regulatory
risk
supervisory practices
Date Published: 2023-02-17
Regulatory Framework: not applicable
Regulatory Type: opinion
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