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Amendments to Guideline on AML and CFT (For Authorized Institutions)

The Chief Executive


All Authorized Institutions


Dear Sir/Madam,


I am writing to inform you that, following an industry consultation, the Hong Kong Monetary Authority (HKMA) published in the Gazette today (G.N. 3117 of 2023) the revised Guideline on Anti-Money Laundering and CounterFinancing of Terrorism (For Authorized Institutions) (AML/CFT Guideline) under section 7 of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) and section 7(3) of the Banking Ordinance. The revised AML/CFT Guideline will be effective on 1 June 2023. Authorized institutions (AIs) should review the revised AML/CFT Guideline and implement appropriate measures, consistent with the risk-based approach.


On-line access to the revised AML/CFT Guideline is available on the HKMA website (https://www.hkma.gov.hk/eng/key-functions/banking/anti-moneylaundering-and-counter-financing-of-terrorism/) and supervisory communication website (http://www.stet.iclnet.hk). The consultation conclusions summarising the key comments received during the consultation, together with a marked-up version of the revised AML/CFT Guideline are attached to this letter and can also be found on the HKMA’s website.


If you have any questions relating to the Guideline, please contact us at aml@hkma.iclnet.hk.


Yours faithfully,


Stewart McGlynn

Acting Executive Director (Enforcement and AML)


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