ChinaThe Financial Action Task Force issued a third follow-up report on the anti-money laundering and counterterrorist financing regime of China, highlighting that the progress to strengthen measures resulted in two positive technical compliance re-ratings.
Julia Leung, Deputy Chief Executive Officer and Executive Director at the Securities and Futures Commission, delivered the keynote address at a Asia Securities Industry and Financial Markets Association conference, highlighting how regulatory technology can strengthen anti-money laundering efforts.
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The Hong Kong Monetary Authority imposed a financial penalty of HK$11 million on the Hong Kong branch of the Taipei, Taiwan-based financial institution for violations of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
Hong Kong’s Securities and Futures Commission suspended Tang Kai Shing, managing director of Rifa Futures Ltd., for a period of eight months beginning on Sept. 2, 2022, for breaches of know-your-customer, AML/CTF and other regulatory requirements.
| Technical | Effectiveness |
|---|---|
| Compliant : 9 | High : 0 |
| Largely Compliant : 22 | Substantial : 3 |
| Partially Compliant : 5 | Moderate : 4 |
| Non-Compliant : 4 | Low : 4 |
Pakistan's technical compliance was re-rated in a Nov. 29, 2022 follow-up report
| Rank : 94/110 |
| Score : 6.7/10 |
| Rank : 78/179 |
| Score : 42/100 |
| Rank : 25/133 |
| Score : 60/100 |