In today’s complex financial landscape, businesses face increasing scrutiny regarding their compliance with anti-money laundering (AML) regulations.  Our AML specialists have become indispensable partners for companies, including Securities and Futures (SFC)-licensed corporations, trust and company services providers (TCSPs), and money service operators (MSOs), aiming to navigate these challenges effectively.

Anti-money laundering laws are designed to prevent the illicit movement of funds through financial systems. In Hong Kong, these regulations have become more stringent, particularly following the introduction of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).  Companies must ensure they have robust compliance programs in place to avoid severe penalties, including hefty fines and criminal charges.

We offer guidance on the intricacies of AML legislation, helping clients understand their obligations under the law. We assist businesses in developing effective compliance strategies that not only meet regulatory requirements but also enhance their operational integrity.

Outsource AML Services

We provide a wide range of AML services that cater to various industries, including financial institutions, SFC-licensed corporations, TCSPs, MSOs and corporate entities. Our offerings include:

• Risk Assessments: We conduct thorough risk assessments to identify potential vulnerabilities within your organization. This proactive approach allows us to tailor compliance programs that address specific risks associated with your business operations.
• Risk Management:  Our team can assist in suspicious activity reporting process.
• Compliance Program Development: Our team works closely with clients to establish comprehensive AML compliance programs. This includes drafting policies and procedures that align with regulatory requirements and industry best practices.
• Training and Education: We offer training sessions for employees, management, and directors on AML compliance. Our training programs cover essential topics such as customer due diligence, recognizing suspicious activities, and reporting obligations.
• Ongoing Support: Compliance is not a one-time effort; it requires continuous monitoring and updates. We provide ongoing support as well as training to ensure that your AML program remains effective and compliant with evolving regulations.
• Liaison:  We can act as an ongoing liaison with regulators, regulatory or investigative agencies.

Protecting Your Interests

Non-compliance with AML regulations can have severe consequences for businesses, including reputational damage and financial loss. Our law firm prioritizes protecting your interests by implementing robust compliance measures that mitigate risks associated with money laundering activities. In addition to our advisory services, we also represent clients in investigations related to AML compliance. Our experienced attorneys are well-versed in defending against allegations of non-compliance and can help navigate complex legal challenges.

In an era where regulatory scrutiny is at an all-time high, partnering with our anti-money laundering specialists would help your business operations in Hong Kong and beyond. Our firm is committed to providing tailored solutions that empower clients to achieve compliance while safeguarding their interests. By choosing us as your trusted advisor in AML matters, you can focus on growing your business with confidence, knowing that your compliance needs are in expert hands.

Contact us today to learn more about how our anti-money laundering services can benefit your organization and ensure a secure operational environment.

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Alfred Leung, Partner

(E: alfredleung@hkytl.com T: +852 3468 7202)

This article is introductory in nature. Its content is current at the date of publication.  It does not constitute legal advice and should not be relied upon as such. You should always obtain legal advice based on your specific circumstances before taking any action relating to matters covered by this article. Some information may have been obtained from external sources, and we cannot guarantee the accuracy or currency of any such information.