Hong Kong's anti-money laundering provisions have come under scrutiny with recent headlines involving ex-hairdressers and elderly ladies, and criticism of Hong Kong's transparency and position as a major international financial centre.
Sensational headlines aside, the authorities continue to crack down on suspected money laundering with the development of new laws and guidelines and increased enforcement activities. The anti-money laundering provisions apply to all types of businesses and you should be aware of how it could affect yours.
We invite you to join our lunchtime seminar to discuss:
• How to avoid getting involved unwittingly in money laundering
• Recent developments in money laundering and terrorist financing
• Offences and obligations under various AML provisions*
• Red flags
• What to do?
* including the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance