Anti-Money Laundering

01 January 2020 00:00 by Dominic Wai

Many organisations globally are faced with a multitude of money laundering and terrorism financing risks. The Hong Kong AML-CTF module offers practical guidance on the identification, mitigation and the management of their money laundering and terrorism financing risks.

Module Scope:

Core Obligations

  • Overview
  • Requirement for AML/CFT Risk-Based Assessment
  • AML/CFT Systems for Designated Non-Financial Businesses and Professions (DNFBPs)
  • Customer Due Diligence (CDD) Requirements
  • Simplified Customer Due Diligence in Low Risk Cases
  • Enhanced Due Diligence Measures in High Risk Cases
  • Ongoing Monitoring of CDD
  • Prohibition on Terrorist Financing, Financial Sanctions and Proliferation Financing
  • Reporting Suspicious Transactions (ST) and Responding to Law Enforcement Requests
  • Record Keeping
  • Staff Training
  • Wire Transfers
  • Correspondent Banking Relationship
  • Establish Private Banking CDD

Legal Landscape

  • Anti-Money Laundering and Counter-Terrorism Financing Ordinance (Cap. 615)
  • Drug Trafficking (Recovery of Proceeds) Ordinance (Cap. 405)
  • Organized and Serious Crimes Ordinance (Cap. 455)
  • United Nations (Anti-Terrorism Measures) Ordinance (Cap. 575)
  • Payment Systems and Stored Value Facilities Ordinance (Cap. 584)
  • Securities and Futures Ordinance (Cap. 571)
  • and 29 other compliance sources


  • Hong Kong Monetary Authority
  • Hong Kong Securities and Futures Commission
  • Commissioner for Customs and Excise
  • and 5 other regulators