An Update on Anti-Money Laundering & Counter-Terrorist Financing regulations (December 2016)

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Update on AML & CFT REGULATIONS (December 2016)

It has been more than 4 years since the Hong Kong anti­money laundering (“AML”) and countering the financing of terrorism (“CFT”) regulations have been rolled out. Players in the finance industry now are under great pressure to live up to the regulators’ expectation in implementing the AML/CFT requirements, or face criminal prosecution and financial penalties.

Content

• Conformity with the Financial Action Task Force (“FATF”) Standards

• Anti-Money Laundering and Counter-Terrorist Financing (Financial institutions) Ordinance ("AMLO")

• The Regulators’ Expectations of The AML Guidelines Implementation

• Personal Criminal Liability for Non-Compliance

• Are You and Your Company at Risk?

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Document

Update on AML and CFT Regulation_​December 2016
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