Hong Kong's Money Laundering and Terrorist Financing Risk Assessment Report 2022

Jul 8, 2022

On July 8, the Government published the latest issue of Hong Kong's Money Laundering and Terrorist Financing (ML/TF) Risk Assessment Report.

The risk assessment is prepared based on the requirements of the Financial Action Task Force (FATF). It examines the ML/TF threats and vulnerabilities facing various sectors in Hong Kong and the city as a whole in recent years, as well as assesses the risk of proliferation financing faced by Hong Kong for the first time.

To address the risks identified in the assessment, the Government will focus on five major areas of work:

1. enhancing the AML/CFT legal framework,
2. strengthening risk-based supervision and partnerships,
3. stepping up outreach and awareness-raising,
4. monitoring new and emerging risks, and
5. strengthening law enforcement efforts and capability of gathering intelligence.

In particular, the Government will introduce a licensing regime for virtual asset service providers and a registration regime for dealers in precious metals and stones in order to mitigate the ML/TF risks of the sectors and protect investors.

For the full report, please click into FULL REPORT