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Description
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Speaker
Ms Pia Lai
Senior Manager, Forensic & Integrity Services, Ernst & Young Advisory Services Limited Mr Sean Chiu
Senior Manager, Forensic & Integrity Services, Ernst & Young Advisory Services Limited Overview As the anti-money laundering and counter-terrorist financing (AML/CFT) regulatory environment is becoming increasingly stringent, the money laundering typologies used by the criminals are getting more and more complicated. Criminals make use of different techniques, for example, through the use of legal persons and trusts, to conceal the identity of the money launders or the true source of the illicit funds. In view of this, regulators across the world as well as international bodies have established AML/CFT regulations and guidelines governing the Designated Non-Financial Businesses and Professions (DNFBPs). In Hong Kong, the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Ordinance 2018 was put in place in March 2018 to extend the statutory requirements on customer due diligence and record-keeping to cover DNFBPs, including lawyers, accountants, real estate agents, and trust or company service providers. The Hong Kong Institute of CPAs is the regulatory body for accountants. DNFBPs should establish and put in place effective AML/CFT policies and controls to ensure compliance with the regulatory requirements in order to avoid potential financial losses and reputational damage. In this module, the speakers will share with you the information on the AML/CFT compliance monitoring review by the Institute, findings identified in recent AML/CFT compliance monitoring review, as well as disciplinary cases on DNFBPs, in order to assist you in getting prepared for the AML/CFT reviews. The speakers will also discuss the trends in the use of technology in AML/CFT compliance to improve efficiency and effectiveness.
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Full
Hot and limited seat
Promotion
Closed
e-Learning
Continuing Education Fund