Hong Kong Monetary Authority

AML / KYC

HKMA Issues New AML/CFT Guidance for Private Banks

By Manesh Samtani | 08/03/2023

Guidance is offered to reduce the burden on legitimate private banking customers trying to use banking services in Hong Kong.

Hong Kong Appoints Ex-Regulators to HKEX Board

By Editors | 02/03/2023

Former HKMA chief Joseph Yam and ex-SFC chairman Carlson Tong have been appointed as board directors for HKEX.

HKMA Offers Guidance on Streamlining Investment Sales Process

By Editors | 28/02/2023

The HKMA said “misunderstandings” on the regulatory standards that may have may have lengthened investment product selling processes.

Crypto / Digital Assets

Hong Kong Issues First-of-its-kind Tokenised Green Bond

By Editors | 17/02/2023

Financial Secretary Paul Chan said the issuance demonstrates Hong Kong’s strengths in combining bond market, green and sustainable finance, and fintech.

AML / KYC

Banks Should Use CDI to Streamline KYC, Credit Processes: HKMA

By Editors | 16/02/2023

Banks with material SME business are expected to complete their technical connection to the CDI and CCRA@CDI before the end of this year.

AML / KYC

HKMA Updates Guidance on Transaction Monitoring, Screening, Reporting

By Manesh Samtani | 10/02/2023

A key objective of the update is to support greater use of technology to generate targeted alerts and more actionable intelligence, the HKMA said.

AML / KYC

HKMA Confirms Plans to Introduce Stablecoin Regulations

By Editors | 01/02/2023

Stablecoins must be fully backed, redemption at par must be available at all times, and issuers must be licenced. Algorithmic stablecoins will not be accepted.

AML / KYC

Westpac Fined in Hong Kong Over Delayed Customer Reviews

By Editors | 31/01/2023

Out of 143 customers who were subject to periodic reviews between June 2016 and May 2017, there were delays in 121 customers – of which 58 were of high risk.

AML / KYC

HKMA Consults on Changes to AML/CFT Guideline for Banks

By Manesh Samtani | 19/01/2023

Banks must perform CDD on customers transferring virtual assets. Digital ID system iAM Smart can be used for identity verification.