The Law Society of Hong Kong has released its responses to questions arising from an online consultation on anti-money laundering (AML) and counter-terrorist financing (CTF) regulation. The consultation was launched on the 3rd November 2020 by the Financial Services and Treasury Bureau. The consultation gave members of the public, as well as private companies the opportunity to ask questions about the future of AML and CTF regulation.
Amongst the questions, the Law Society provided responses on topics such as increased penalties, reserved legal activities and licensing agreements.
Read the Law Society’s full response.