As a free-market, international finance and trade hub, Hong Kong faces a significant risk of money laundering carried out as tax evasion, corruption, fraud and other criminal conducts that take advantage of its developed financial infrastructure. These threats are, to some degree, matched by its sophisticated anti-money laundering and terrorist financing regulations and enforcement.
In practice, the Hong Kong Monetary Authority (HKMA) is the territory’s main Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) regulator and is responsible in maintaining its financial system. Through the enforcement of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) and the Banking Ordinance (BO), the HKMA obliges financial institutions (which include licensed money service operators, authorised insurance brokers, appointed insurance agents, among others) with the following requirements:
Our clients are provided with a secure and simple solution in regard to scanning for politically exposed or high-risk individuals, as well as checking names against sanction, regulatory, law enforcement, and other official lists.
Use our sophisticated scan filters and due diligence workflow to minimise the amount of time you spend sorting through, false matches. Scan results and reporting sections allow you to access customer details, whenever and wherever required, as well as download reports, to customise for further investigation or to provide evidence of your AML program compliance for auditing purposes.
* This page is intended as general information only and should not be relied on as the sole source of information for your AML obligations and AML program. Please visit your local regulatory authority sites for the latest relevant and full information.