News and Articles
Combating Concealed Beneficial Ownership & AML/CTF Risks in Trust and Company Service Providers (TCSPs) Industry
Trust or Company Service Providers (TCSPs) play a crucial role in facilitating the establishment, administration, and management of trusts and companies. However, due to their involvement in financial transactions and corporate structures, TCSPs are vulnerable to exploitation by money launderers...
Read MoreLatest Updates on Hong Kong Anti-Money Laundering Regulations
Updated on 2023/07/20 The Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 was passed by the Legislative Council of Hong Kong in December 2022. The new legislation, including the establishment of a registration regime for Dealers in Precious Metals and...
Read MoreGuide for HK DPMS: Registration Process, How to Do AML and Useful AML Tools (With Tips on Waiver of Registration Fee)
updated on 30/01/2024 The Hong Kong Legislative Council passed the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 on 7 December 2022, to introduce a registration regime for Dealers in Precious Metals and Stones (“DPMS”), so as to impose statutory...
Read MoreThe Art Market and Money Laundering
Visiting art fairs has become more common nowadays. Imagine you are visiting Art Basel or Sotheby’s. Standing in front of an artwork with a powerful stroke on it, and there’s a little red sticker beside the artist’s statement saying “SOLD”....
Read MoreHong Kong Registration Regime for Dealers in Precious Metals and Stones (DPMS)
updated on 30/01/2024 On 7 December 2022, Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 in Hong Kong was passed by the Legislative Council, to introduce a registration regime for Dealers in Precious Metals and Stones (DPMS), so as to...
Read MoreVirtual Asset Services Providers (VASP) Licensing Regime in Hong Kong
updated on 13/12/2022 On 7 December 2022, the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 in Hong Kong has been passed by the Legislative Council, to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulatory regime of Hong Kong and...
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