AML/CTF Matters: An update for Licensed Corporations
With regulator’s reiteration of compliance requirements through its circular published earlier, Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) top the agenda of licensed corporations (LCs) and associated entities.
How LCs are affected? What should LCs do to avoid falling short of the required standard? Seasoned professionals from EY will provide their views and share leading practice and market insight on the challenges facing the industry, and practical approaches of handling AML/CFT matters.
Key content of the seminar:
- Update of the SFC’s AML/CFT guidelines
- Supervisory observations on implementing AML/CFT internal controls
- Enhanced measures on client identifications
- Institutional Risk Assessment (IRA)
- Customer Due Diligence (CDD) and Ongoing Monitoring
- Suspicious Transaction Monitoring, Evaluation and Reporting