Risk Classification of Suspicious Transaction Reports (STRs)

Our Ref.: B10/1C

23 December 2008

The Anti-Money Laundering Compliance Officer
All Authorized Institutions

Dear Sir/Madam,

Risk Classification of Suspicious Transaction Reports (STRs)

I am writing to inform you that the Joint Financial Intelligence Unit (JFIU) has decided to end its practice of providing a risk classification for each STR as part of its feedback to reporting entities.

With effect from 1 January 2009, the JFIU's feedback will be limited to "Consent" or "No Consent". Additional feedback would be provided in the event of an arrest, prosecution or conviction.

A self-explanatory letter from the JFIU is attached for your reference.

If you have any questions regarding the above, please contact Mr. Bernard Law of the JFIU on 2860 3547.

Yours faithfully,

Raymond Chan
Head (Banking Policy Division)

Encl. Letter from the JFIU (PDF file, 42KB)