Hong Kong has published its second money laundering and terrorist financing risk assessment report examining the ML/TF threats and vulnerabilities facing various sectors in Hong Kong and the city as a whole.
The report highlights that the local banking sector continues to face an elevated risk of being exploited for ML, noting that this is commensurate with Hong Kong’s status as an international financial centre and in line with the risks noted internationally.
FIs with Hong Kong operations should review this report to inform their risk assessments and implementation of Financial Crime controls in the region.
Advisory and Transformation
AML/CTF/CPF
Industry News
