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).
South China Morning PostBack