Hong Kong Monetary Authority

AML / KYC

HKMA Fines WeChat Pay for AML Control Deficiencies

By Sanday Chongo Kabange | 02/09/2024

WeChat Pay had control deficiencies in its process for undertaking CDD reviews and applying EDD measures.

Crypto / Digital Assets

HSBC Completes 3 PoC Use Cases in Project Ensemble Sandbox

By Sanday Chongo Kabange | 30/08/2024

The three PoC use cases involve digital bonds, interbank transfers of tokenised deposits, and eBL settlement via tokenised deposits.

Crypto / Digital Assets

HKMA Launches New Sandbox for Tokenised Asset Transactions

By Sanday Chongo Kabange | 29/08/2024

The Project Ensemble Sandbox will facilitate interbank settlement using tokenised money for transactions involving tokenised assets.

Big Picture

HKMA Highlights Power of AI to Mitigate Greenwashing Risk

By Manesh Samtani | 28/08/2024

HKMA published a bulletin offering guidance to FIs on the use of AI-powered ESG tools to help manage climate greenwashing risk.

Fintech / Regtech

HKMA Announces New Data Linkage to Boost SME Finance

By Sanday Chongo Kabange | 27/08/2024

Banks can access information on SMEs from Hong Kong’s Companies Registry via HKMA’s CDI platform.

Crypto / Digital Assets

AIIB Becomes First in Asia to Issue Digital Note via Euroclear

By Ranamita Chakraborty | 27/08/2024

The digital securities raised $300mn for AIIB’s sustainable development bond programme, with clearing possible through HKMA’s CMU and SIX.

HKMA, HKAB Form New Joint Taskforce on SME Lending

By Sanday Chongo Kabange | 25/08/2024

The taskforce will work on ensuring effective implementation of the measures announced in March and addressing difficulties encountered by individual SMEs.

ESG / Sustainability

HKMA Issues Guidance for Banks on Climate Risk Governance

By Sanday Chongo Kabange | 23/08/2024

The guidance is aimed at helping banks to develop and enhance their governance structures and oversight frameworks for climate risk.

Market Infrastructure

HK Securities Firms Set to be Added to Wealth Connect Scheme

By Editors | 22/08/2024

Ten securities companies including China CITIC Securities, CICC, Huatai Securities and GF Securities will initially be added to the scheme.