Hong Kong Releases New AML Guidance for Banks

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The Hong Kong Association of Banks has published a detailed guide regarding some pressing and complex anti-money laundering (AML) issues such as trusts and PEPs; including some answers to the most frequently answered questions that have been identified and written by the Hong Kong Monetary Authority.

The preparations come in the lead up to the Financial Action task Force’s (FATF) impending mutual evaluation report on the country. No doubt the Asian nation will pass with flying colours!