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.
||B/D; Bank; IA; Ins
||Cir, SFO/IS/001/2018, 1/11/2018
||AML; Anti-Bribery; Compliance; Financial; Legal; Operations; Reporting; Training
||Banking; Clearing; Fund Mgt; Securities
||AML & Enforcement
Last substantive update on 01/11/2018