On April 17, 2024, Hong Kong Customs dismantled a money laundering syndicate and arrested three individuals alleged to have laundered over $1.8 billion using a cryptocurrency exchange and numerous company bank accounts.
The Hong Kong Monetary Authority published a thematic review of authorized institutions’ transaction monitoring systems which highlights the use of artificial intelligence to optimize performance.
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The Hong Kong Monetary Authority disciplined a branch of the Taipei, Taiwan-based financial institution for breaching the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
The Hong Kong Securities and Futures Commission suspended Andy Wong Yeung, the former director and responsible officer in charge of overall management oversight of City International Futures (Hong Kong) Limited, until Nov. 8, 2024.
Technical | Effectiveness |
---|---|
Compliant : 11 | High : 0 |
Largely Compliant : 25 | Substantial : 6 |
Partially Compliant : 4 | Moderate : 5 |
Non-Compliant : 0 | Low : 0 |
Hong Kong's technical compliance was re-rated in a Feb 16, 2023 follow-up report.
Rank : 54/110 |
Score : 5.2/10 |
Rank : 11/179 |
Score : 77/100 |
Rank : 4/133 |
Score : 66/100 |