by Jyotsna Bucktowar | Dec 31, 2025
The framework aims to curb money laundering, enforce strict AML/CTF standards aligned with global norms, and bring all virtual asset intermediaries under a single supervisory regime, with the legislative bill expected to be submitted to the Legislative Council in...
by AdrianaAMLP | Dec 9, 2025
The consultation paper proposes amendments to Hong Kong’s Inland Revenue Ordinance to introduce mandatory reporting, record-keeping requirements, enhanced penalties and registration obligations for financial institutions in line with the OECD’s Crypto-Asset Reporting...
by Jyotsna Bucktowar | Jan 10, 2025
The Hong Kong Monetary Authority (HKMA) has issued an alert about a fraudulent website and internet banking login screen reported by Shanghai Commercial Bank. It reminds the public that banks will never ask for sensitive information like passwords or One-Time...
by AdrianaAMLP | Oct 16, 2024
Hong Kong Customs mounted an operation codenamed “Spark II” resulting in the arrest of five local men, aged between 34 and 71, for conspiracy or aiding to “deal with property known or reasonably believed to represent proceeds of an indictable...
by Jyotsna Bucktowar | Jul 5, 2024
DBS Bank (Hong Kong) Limited faced disciplinary action due to inadequate systems and controls under the AMLO. The investigation highlighted shortcomings in ongoing monitoring of business relationships, conducting enhanced due diligence in high-risk situations, and...
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