ANTI-MONEY LAUNDERING (AML) IN ASIAN BANKING SECTOR

R2G Managing Director Hugo Williamson was widely quoted in a major article published about the tightening Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements of Asian private banks dealing with money coming from mainland Chinese clients.

 

Among the points made by Hugo include:

• AML and KYC regulations and requirements are becoming stricter in Hong Kong.
• Banks are increasingly concerned about Chinese sources of fianancing, and are thus deploying more stringent measures for mainland clients. 
• Particular concern is being given to identifying Political Exposed Persons (PEPs).

 

Link: http://www.scmp.com/business/banking-finance/article/1516079/tighter-scrutiny-potential-mainland-clients-banks-hong-kong

South China Morning Post

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