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.