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Updates on Hong Kong’s anti-money laundering laws 2020

Foster Hong-Cheuk Yim (Liberty Chambers, Hong Kong)
Ian Philip Lee (Faculty of Law, The Chinese University of Hong Kong, Hong Kong)

Journal of Money Laundering Control

ISSN: 1368-5201

Article publication date: 30 June 2020

Issue publication date: 25 May 2021

263

Abstract

Purpose

The purpose of this paper is to discuss the latest developments of anti-money laundering (AML) laws in terms of case law and to give meaningful response in relation to certain key findings (KFs) and recommendations by the financial action task force contained in its mutual evaluation report dated September 2019.

Design/methodology/approach

In terms of AML case law, the authors analyse the latest judgment from the Hong Kong (HK) court of final appeal. In terms of the evaluation report, the authors outline salient points from the KFs and recommendation, commenting on their likelihood of success.

Findings

With the developments in AML case law and the KFs identified, HK is expected to maintain its high standard in AML/counter financing of terrorism (CFT) compliance.

Originality/value

A robust AML/CFT regime is the bedrock of HK’s reputable status as an international financial centre. This study seeks to illicit meaningful interactions amongst all stakeholders.

Keywords

Citation

Yim, F.H.-C. and Lee, I.P. (2021), "Updates on Hong Kong’s anti-money laundering laws 2020", Journal of Money Laundering Control, Vol. 24 No. 1, pp. 3-9. https://doi.org/10.1108/JMLC-05-2020-0048

Publisher

:

Emerald Publishing Limited

Copyright © 2020, Emerald Publishing Limited

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