HK SFC AML Suspicious Trades

On Jan. 11, HK SFC issued circular on suspicious transaction report.

  • Follows Dec. 2015, SFC AML guidance on accuracy of AML reports, see #24812.
  • Jan. 2018 Guidance
  • Cited feedback report by JFIU on quality of suspicious transaction reports (STR).
  • Feedback report recently issued by the HK joint financial intelligence unit (JFIU).
  • Circular is directed to licensed corporations (LCs), and associated entities (AEs).
  • Quality of Reporting
  • Firms to have regard to criteria identified, to ensure filing of better quality STRs.
  • Referred to advice of JFIU on obligations on STRs and quarterly analysis reports.
  • Firms should register for access to the secure area of JFIU site using application.

Regulators HK SFC
Entity Types B/D; Bank; IA; Ins
Reference Cir, SFO/IS/001/2018, 1/11/2018
Functions AML; Anti-Bribery; Compliance; Financial; Legal; Operations; Reporting; Training
Countries Hong Kong
Products Banking; Clearing; Fund Mgt; Securities
Regions AP
Rule Type Guidance
Rule Date 1/11/2018
Effective Date 1/11/2018
Rule Id 38380
Linked to Rule :24812
Report Issue 1/15/2018
Report Section AML & Enforcement

Last substantive update on 01/11/2018