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/lp/emerald-publishing/updates-on-hong-kong-s-anti-money-laundering-laws-2020-bYn12m7lBJ
References (5)
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(2019)
Circular to licensed corporations and associated entities – anti-money laundering/counter-financing of terrorism – publication of Hong Kong’s mutual evaluation report by FATF -
(2018)
Hong Kong money laundering and terrorist financing risk assessment report -
(2020)
Annual budget speech of 2020-2021 by the financial secretary of Hong Kong -
(2019a)
Anti-money laundering and counter-terrorist financing measures – Hong Kong, China -
(2019)
Anti-money laundering and counter-terrorist financing measures – Hong Kong, ChinaFourth Round Mutual Evaluation Report
- Publisher
- Emerald Publishing
- Copyright
- © Emerald Publishing Limited
- ISSN
- 1368-5201
- eISSN
- 1368-5201
- DOI
- 10.1108/jmlc-05-2020-0048
- Publisher site
- See Article on Publisher Site
Abstract
The purpose of this paper is to discuss the latest developments of anti-money laundering (AML) laws in terms of case law and to give meaningful response in relation to certain key findings (KFs) and recommendations by the financial action task force contained in its mutual evaluation report dated September 2019.Design/methodology/approachIn terms of AML case law, the authors analyse the latest judgment from the Hong Kong (HK) court of final appeal. In terms of the evaluation report, the authors outline salient points from the KFs and recommendation, commenting on their likelihood of success.FindingsWith the developments in AML case law and the KFs identified, HK is expected to maintain its high standard in AML/counter financing of terrorism (CFT) compliance.Originality/valueA robust AML/CFT regime is the bedrock of HK’s reputable status as an international financial centre. This study seeks to illicit meaningful interactions amongst all stakeholders.
Journal
Journal of Money Laundering Control – Emerald Publishing
Published: May 25, 2021
Keywords: Hong Kong (HK); Anti-money laundering (AML); Virtual asset service providers (VASPs); Mutual evaluation; Counter financing of terrorism (CFT); Targeted financial sanctions (TFS); Suspicious transaction reports (STRs); Letters of no consent (LNCs); Money service operators (MSO)