𝗔𝗻𝘁𝗶-𝗠𝗼𝗻𝗲𝘆 𝗟𝗮𝘂𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝗮𝗻𝗱 𝗖𝗼𝘂𝗻𝘁𝗲𝗿-𝗧𝗲𝗿𝗿𝗼𝗿𝗶𝘀𝘁 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 (𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁) 𝗕𝗶𝗹𝗹 𝟮𝟬𝟮𝟮
Two years ago, our Partner Charles To and Associate (then our trainee solicitor) Tiffany Li have written an article (https://lnkd.in/gDKiAi2a) on the commencement of the public consultation for the legislative proposal to enhance anti-money laundering and counter-terrorist financing (“AML/CTF”) measures in Hong Kong.
On 7 December 2022, the Legislation Council finally passed the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (“Bill”). The Bill implements the recommendations set out by the Financial Action Task Force and introduces changes to the Anti-Money Laundering and Terrorist Financing Ordinance (Cap. 615) (“AMLO”).
As stated in the Government’s statement published on the same date, the Bill will enhance Hong Kong’s AML/CTF regulations and provide a more comprehensive protection for investors in virtual asset (“VA”) activities, strengthening Hong Kong’s status as an international financial center.
To know more, please read the full article authored by Charles, Tiffany together with our Trainee Solicitor Kelly Kwan.