The Securities and Futures Commission (SFC) has updated its anti-money laundering and counter-financing of terrorism (AML/CFT) guidelines for licensed corporations and associated entities to include provisions related to the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022, which will come into effect on June 1, 2023. The revisions include updated definitions for “politically exposed person” and “beneficial owner,” as well as guidance on the use of digital identification systems for identifying and verifying a customer’s identity. Additionally, a new chapter has been added to provide guidance on the ML/TF risks associated with virtual assets. The updated guidelines will take effect on June 1, 2023, and affected entities are advised to review their policies and procedures in light of the changes.
Appendix: https://apps.sfc.hk/edistributionWeb/api/circular/openAppendix?lang=EN&refNo=23EC21&appendix=0
Resource: https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/aml/doc?refNo=23EC21
