AMLAWARE | Conclusion
AMLAware International – Anti-Money Laundering compliance training programs meeting regulatory requirements for insurance companies, the financial services industry, and the banking sector worldwide.
Anti-money laundering, training, training program, training programs, money laundering, insurance, finances, financial industry, banking sector, international, international anti-money laundering
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Conclusion

17 Jun Conclusion

Topic Progress:

Taken together, Hong Kong’s AML laws form a comprehensive barrier against money laundering.

  • Additional deterrents include provisions against “tipping off” (notifying an individual of the filing of a Suspicious Transaction Report) and against failing to disclose knowledge that assets or property are the proceeds of crime, which both carry three-year-prison terms.
  • Regulatory measures, such as requiring customer due diligence, monitoring, and the reporting of suspicious transactions, add to the effectiveness of the AML program.