The Hong Kong Monetary Authority (HKMA) has affirmed that the phased approach to remote onboarding adopted by some banks agrees with the risk-based approach required in AML/CFT control. The bank regulator on Wednesday shared key observations and good practices in AML/CFT control measures that it had identified in recent thematic reviews of remote on-boarding initiatives. In an Annex to the…
HKMA affirms “phased approach” by banks adopting remote onboarding
4 June 2020

Share article
Share article
Related News

Movers & Shakers – Private banks turn more selective as 2H22 looms
21 June 2022

DPM Corner – Our quantitative approach shields clients from volatility: David Loo of Lombard Odier
11 March 2022

February Regulatory Round-up: HKMA urges banks to implement vaccine passports
8 March 2022

December Regulatory Round-up: HKMA raises banks’ awareness of climate risks; HK, S’pore regulators join forces in curbing ramp-and-dump schemes; Singapore and China widen financial cooperation
3 January 2022

November Regulatory Round-up: Strict HK regs limit crypto and SPAC activities for FOs; Tighter AML rules affect PB client onboarding; FI executives’ take on China’s “common prosperity” drive
6 December 2021

Tightening AML rules take a toll on client onboarding at private banks
22 November 2021

HKMA recognises use of proper conduct KPIs in setting bonuses paid in front offices
22 November 2021

Banks have a clear responsibility to guide clients in portfolio structuring: Lombard Odier
26 October 2021

Banks roll out services for “game changer” WM Connect scheme after HKMA nod
19 October 2021

Exclusive
Asian families adopting “business mindset” to philanthropy: Pictet
15 October 2021

Exclusive
Holistic approach and digital tools power growth of StanChart India’s affluent business
11 October 2021

Equity-linked structured products in internet and tech dominated OTC sales in 2020: SFC-HKMA report
8 October 2021