Hong Kong's Securities and Futures Commission has launched a three-month consultation on proposals to amend its anti-money laundering (AML) guidelines. The proposed amendments address areas identified in the Financial Action Task Force's September 2019 mutual evaluation report, primarily: institutional and customer risk assessments; risk mitigation for cross-border correspondent relationships; suspicious transactions and third-party deposits and payments; further guidance on persons purporting to act on behalf of the customer and establishing sources of funds. Consultation closes on 18 December 2020.
News Source：【SFC 2020/09/18、Sidley Austin LLP 2020/09/29】