Category:Hong Kong Embargoed Countries
From Sanctions Wiki
Hong Kong Monetary Authority (HKMA)
The Hong Kong Monetary Authority (HKMA) was established on 1 April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. Its main functions and responsibilities are governed by the Exchange Fund Ordinance and the Banking Ordinance and it reports to the Financial Secretary.
The HKMA is the government authority in Hong Kong responsible for maintaining monetary and banking stability. One of its main functions is to promote the stability and integrity of the financial system, including the banking system.
Hong Kong FATF Statement
August 2, 2011 - Statements issued by Financial Action Task Force on Money Laundering concerning Iran, Democratic People’s Republic of Korea (DPRK) and jurisdictions with strategic AML/CFT deficiencies that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies (Bolivia, Cuba, Ethiopia, Kenya, Myanmar, Sri Lanka, Syria and Turkey). Hong Kong FATF Statement to all HKMA Authorized Institutions
Customer Due Diligence & Record-keeping Requirements
July 8, 2011 - Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance - The legislation concerning customer due diligence and record-keeping requirements will come into operation on 1 April 2012. The Ordinance is available on the Government’s website - Hong Kong Guidance.