Hong Kong: Money Laundering

Hong Kong has introduced sweeping reforms to its automatic exchange of information framework, implementing both the OECD's Crypto-Asset Reporting Framework (CARF) and an enhanced Common Reporting Standard (CRS 2.0). These changes mandate registration for all reporting financial institutions, impose stringent due diligence requirements on crypto-asset service providers, and expand tax transparency to cover digital money products and crypto-related investment activities.

In the recent case of HKSAR v 徐美儀 [2025] HKDC 1597, the defendant was convicted on two counts of conspiracy to deal with property known or believed to represent the proceeds of an indictable offence.

The Court of Appeal (the "CA") recently handed down its decision in HKSAR v Lam Kit Wai & Others [2025] HKCA 429, revisiting legal principles on when it is appropriate to draw irresistible inferences of the existence of proceeds of crime in money laundering cases.

On 15 August 2023, the Hong Kong Monetary Authority (HKMA) imposed a penalty of HK$16 million on a Hong Kong bank (the "Bank") for breaching five provisions of the Anti-Money Laundering...

The Hong Kong government is trying to support the growth of virtual asset and other Web3 industries. One of the first key steps they've taken is to put virtual asset trading platforms...

We have compiled the following chronology table which serves as a quick reference point to track the circulars and guidance published by HK financial services regulators in relation to COVID-19.

In Tam Sze Leung & Ors v Commissioner of Police [2021] HKCFI 3118, a judicial review case, the Court of First Instance found the longstanding practice of the Hong Kong Police in effecting an ...

His reprimand and suspension underlines his responsibility to supervise regulated activities of a licensed corporation.

In the recent case of Tam Sze Leung & Ors v. Commissioner of Police [2021] HKCFI 3118, the Court of First Instance held that (1) the Commissioner of the Police acted ultra vires...