Money laundering is a serious criminal offence under the Laws of Hong Kong. To strengthen and fight against the growing number and complexity of financial crime, regulatory authorities have issued regulations and guidelines on anti-money laundering (“AML”) and counter-terrorist financing (“CTF”), including but not limited to Drug Trafficking (Recovery of Proceeds) Ordinance (Cap.405), Organized and Serious Crimes Ordinance (Cap. 455) and Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).
To meet the compliance obligation, AVISTA assists our clients on the design, establishment and implementation of a formal and effective AML/CTF mechanism by identifying and assessing the potential exposure towards risks related to money laundering and terrorist financing. To corporates which have already set up an AML/CTF programs, we could help to review and enhance the design and efficiency of the existing programs. Besides, we also provide services to assist clients to respond to the enquiries’ from the regulatory authorities and remediate related compliance failures.
Through years of experience, we understand the difficulties and the problems faced by corporate, enabling us to provide industry-specific solutions.Read More