Anti-Money Laundering Course (Cantonese)

"How to Enhance the Level of Compliance Standard" course (Cantonese) co-organized by our Association and Institute of Professional Education and Knowledge (PEAK) will be held on 13 December 2022 (Tuesday night).

This programme is designed for MSO's Senior Management, Compliance Officer and Money Laundering Reporting Officer to better understand the latest statutory and regulatory requirements of Anti-Money Laundering and Counter-Terrorist Financing. The program also aims to raise participants' awareness on the importance of Customer Due Diligence and Ongoing Monitoring, for the purpose of detecting irregular or suspicious financial activities, and hence, to enhance the compliance level of MSOs.

The course only costs MSOA Member HK$1,480 each. To verify the eligibility to the special discount, applicants must enroll in the course through the Hong Kong Money Service Operators Association. For more details or any queries, please visit our website or call our hotline at 3176 2004.

Sectoral Risk Assessment - Money Service Operators

This report presents the findings of Hong Kong’s latest risk assessment, completed in 2021. The money laundering and terrorist-financing landscape has continued to evolve since our last risk assessment, in 2018, particularly in regard to digital financial technologies. The Financial Action Task Force also revised its recommendation in 2020 requiring jurisdictions to assess proliferation financing risk in addition to money laundering and terrorist financing risks. Accordingly, the 2021 report offers a more detailed discussion of developments, from the emergence of new financial services, including virtual-asset offerings, to changes in the types of money laundering and terrorist-financing activities and the adoption of rules and techniques to prevent related crime, and includes Hong Kong’s first assessment ofproliferation financing risk.

Bank of Japan says printing of current batch of yen banknotes has ended

Japan finished printing in September the current ¥10,000 banknote featuring a portrait of prominent educator Yukichi Fukuzawa, the Bank of Japan said Friday, and production has also been terminated for the ¥5,000 and ¥1,000 bills, featuring portraits of writer Ichiyo Higuchi and bacteriologist Hideyo Noguchi, respectively. Mass production of the redesigned banknotes has already started, with their circulation slated to begin in the first half of fiscal 2024, which starts in April 2024. The new ¥10,000 bill has a portrait of Eiichi Shibusawa, known as the "father of Japanese capitalism…Read More

Hong Kong police arrest 2 suspected counterfeiters for allegedly using fake bills to buy takeaway food

Two Hong Kong men accused of using counterfeit banknotes to buy takeaway food and pay for online purchases have been arrested and 37 fake bills seized, according to police. The two suspected counterfeiters, who were detained in Kwun Tong on Tuesday, were believed to be linked to five such cases, the force on Wednesday said. During the arrest operation, officers seized 37 counterfeit banknotes in HK$500 and HK$100 denominations, with a total face value of HK$17,700 (US$2,255). According to the force, a printer believed to have been used to produce the fake bills was among the items seized in the operation… Read More

Hong Kong Customs detects money laundering case involving HK$4.3 million following narcotics investigation, 3 men arrested

16th September 2022 – (Hong Kong) Hong Kong Customs on 13th and 14th September arrested two persons suspected of dealing with drug trafficking proceeds, following a dangerous drugs case detected in May this year. Altogether three men were arrested for “dealing with property known or reasonably believed to represent proceeds of an indictable offence” (commonly known as money laundering), involving approximately HK$4.3 million. In May this year, Customs officers detected a dangerous drugs case involving over HK$86 million (in drugs and cash). Five men were arrested and a batch of banknotes worth about HK$640,000 was seized. Among the five, a 63-year-old man was further arrested on the same day for involvement in money laundering under the Organized and Serious Crimes Ordinance (OSCO)…Read More