News
Publication of Hong Kong’s Money Laundering and Terrorist Financing Risk Assessment Report
07 May 2018Dear members,
The HKTA received the following information from Mickey Wai (Assistant Secretary for Security, Narcotics Division) of the Security Bureau on the release of the Hong Kong's Money Laundering and Terrorist Financing (ML/TF) Risk Assessment Report on 30 April 2018.
Having regard to the recommendation of the Financial Action Task Force (FATF) for jurisdictions to identify and assess their ML/TF risks and to apply corresponding mitigating measurers, the Report examines the ML/TF threats and vulnerabilities facing various sectors in Hong Kong and the city as a whole. The Report also identifies areas for further work and follow-up actions have been taken accordingly. The links of the full report, the press release and the external circular are:
Risk Assessment Report
https://www.fstb.gov.hk/fsb/aml/en/risk-assessment.htm
https://www.fstb.gov.hk/fsb/aml/tc/risk-assessment.htm
Press release
https://www.fstb.gov.hk/fsb/ppr/press/doc/pr30042018a_e.pdf
https://www.fstb.gov.hk/fsb/chinese/ppr/press/doc/pr30042018a_c.pdf
External Circular No. 3/2018
https://hktrustees.com/upload/article/ec3-2018-e.pdf (English)
https://hktrustees.com/upload/article/ec3-2018-c.pdf (Chinese)
They would like to draw your attention to the AML risks you may face so that appropriate action could be taken to mitigate the risks. Please note that Chapter 6 of the Report sets out the assessment on the ML risks of the designated non-financial businesses and professions (DNFBPs) in Hong Kong.
For enquiries, please contact:
Micey Wai ([email protected]; Tel: 2867 3366) or
Peggy Leung ([email protected]; Tel: 2867 5916)
With kind regards,
HKTA Executive Committee