Compliance, Legislative & Regulatory Standards
The need to launder illicit funds is an ongoing problem for criminals. They continue to devise increasingly sophisticated means of laundering funds. The Financial Action Task Force – a specialist anti-money laundering agency – has put financial institutions and their employees on the frontline of the battle against money laundering.
This tutorial explains the stages and ways in which money is laundered. It describes the best practices and legislation that financial institutions and other designated bodies need to follow to counter money laundering and terrorist financing.
On completion of this tutorial, you will be able to:
- Identify the purposes, methods, and stages of the money laundering process
- Identify the roles of the regulatory bodies in Hong Kong in the fight against money laundering
- List your personal obligations under Hong Kong's laws and regulations
- Recognize the difficulties in identifying terrorist financing and the corresponding offences
Topic 1: Money Laundering & How it is Detected
Topic 2: Hong Kong’s Legal & Regulatory Framework
Topic 3: Legal & Regulatory Obligations
Topic 4: Curbing Terrorist Financing