Regulation Asia on 1st July reported that Hong Kong is said to have been found to be particularly effective in the areas of risk identification, law enforcement, asset recovery, counter-terrorist financing and international co-operation by FATF.  The mutual evaluation report of Hong Kong was examined at the FATF Plenary on 20th June.  However, the report, due to be published in September, says that Hong Kong still needs to prioritise efforts to prosecute money laundering linked to foreign predicates, increase its risk understanding, boost AML/CFT implementation by smaller institutions, and strengthen supervisory measures for some sectors.


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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