News
Latest Issue of Hong Kong’s Money Laundering & Terrorist Financing Risk Assessment Report Published
11 Jul 2022The Government published the latest issue of Hong Kong’s Money Laundering and Terrorist Financing (ML/TF) Risk Assessment Report (the Report). The risk assessment is prepared based on the requirements of the Financial Action Task Force. It examines the ML/TF threats and vulnerabilities facing various sectors in Hong Kong and the city as a whole in recent years, as well as assesses the risk of proliferation financing faced by Hong Kong for the first time. The report covers the latest ML/TF trends and typologies as well as matters of international and regional concern. For details, please refer to the Press Release issued by the Government on 8 July 2022.
The Report is available at www.fstb.gov.hk/fsb/aml/en/risk-assessment.htm.
Trust or Company Service Provider licensees (TCSP licensees) are required to identify and assess ML/TF risks to which they are exposed, so as to determine the adequate and appropriate anti-money laundering and counter-financing of terrorism policies, procedures and controls that should be implemented to mitigate the risks of ML/TF identified.
TCSP licensees should give due consideration to the ML/TF threats and vulnerabilities identified in the Report that are relevant to their own circumstances in their risk assessment process.