Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT)
The HKMA's Role
The Monetary Authority is the relevant authority under the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (“AMLO”) for supervising authorized institutions’ compliance with the legal and supervisory requirements set out in the AMLO and the Guideline on Anti-Money Laundering and Counter-Terrorist Financing (for Authorized Institutions). We require authorized institutions to establish effective systems and controls to prevent and detect money laundering and terrorist financing.
We work closely with other stakeholders within both the Government and the industry to ensure that the banking sector is able to play its gatekeeper role in Hong Kong’s AML/CFT regime.
We participate in various international forums, including the Financial Action Task Force to ensure that our risk-based approach to AML/CFT supervision is consistent with international practice and allows the most effective use of resources to address areas of higher risk.
Regulatory and Supervisory Requirements
(i) For authorized institutions
- Anti-Money Laundering and Counter-Terrorist Financing (Financial lnstitutions) Ordinance (Cap. 615)
- Guideline on Anti-Money Laundering and Counter-Terrorist Financing (for Authorized Institutions) (Revised in March 2015) (PDF File, 987KB)
- Guideline on Exercising Power to Impose Pecuniary Penalty (June 2012) (PDF File, 39KB)
- Frequently Asked Questions on Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (March 2012) (PDF File, 38KB)
- Guidance Paper on Transaction Screening, Transaction Monitoring and Suspicious Transaction Reporting (December 2013) (PDF File, 582KB)
- Guidance Paper on Anti-Money Laundering Controls over Tax Evasion (March 2015) (PDF File, 272KB)
- Frequently Asked Questions on Customer Due Diligence (September 2016)
(ii) Related to stored value facility products
- Guideline on Anti-Money Laundering and Counter-Terrorist Financing (for Stored Value Facilities Licensees) (September 2016) (PDF File, 1MB)
31 Jul 2015 State Bank of India, Hong Kong Branch
|1 Feb 2016||Industry Guidance Paper on Combating Trade-based Money Laundering
Developed by the Hong Kong Association of Banks
|25 Sep 2015||Regulatory Update on AML/CFT Putting risk-based in AML – The Road Ahead (Presentation slides)
By Stewart McGlynn, Head of Anti-Money Laundering and
Financial Crime Risk, Banking Supervision, Hong Kong Monetary Authority
|4 Jun 2015|