On 12 August, Mayer Brown said that in July the Hong Kong government published its second money laundering and terrorist financing risk assessment report based on an assessment completed in 2021. The Report provides an overview of these and, for the first time, proliferation financing risks in Hong Kong. The article from Mayer Brown covers the significant risks identified and the changes to risk ratings since the 2018 Report; provides a summary of some of the key proposed amendments to Anti-Money Laundering and Counter-Terrorist Financing Ordinance; and sets out the future key areas of work for the AML/CFT regime in Hong Kong.
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