MONEY LAUNDERING AND TERRORIST FINANCING RISKS FACING HONG KONG’S TRUST OR COMPANY SERVICE PROVIDERS

On 4th May, Herbert Smith Freehills published a briefing explaining that the Hong Kong Government had produced a report which examines the ML/TF threats and vulnerabilities facing various sectors in Hong Kong and the city as a whole.  Set out below are a summary of the findings in relation to trust or company service providers (TCSP).

https://sites-herbertsmithfreehills.vuturevx.com/96/16702/compose-email/money-laundering-and-terrorist-financing-risks-facing-hong-kong-s-trust-or-company-service-providers.asp

The report itself is at –

https://www.fstb.gov.hk/fsb/aml/en/doc/hk-risk-assessment-report_e.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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