Hong Kong: Money Laundering

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Preparing For The Crypto-Asset Reporting Framework And The Related Amendments To The CRS And AEOI Frameworks In Hong Kong

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.

Hong Kong Technology

WL

Withers LLP

Letting Other People Use Your Bank Account Could Put You In Jail

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.

Hong Kong Criminal

O

ONC Lawyers

Losing Money On Bets With No Gain Could Still Be Money Laundering

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.

Hong Kong Government

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ONC Lawyers

Hong Kong's Stablecoin Bill: Key Amendments And Next Steps Following Legislative Passage

On 21 May 2025, the Hong Kong Legislative Council passed the much-anticipated Stablecoins Bill ("Bill"), now citable as the Stablecoins Ordinance ("Ordinance")...

Hong Kong Technology

MB

Mayer Brown

Hong Kong's Stablecoins Ordinance To Take Effect On 1 August 2025, Welcoming A New Era For Virtual Asset Regulation

Hong Kong Technology

SW

Stevenson, Wong & Co

Representing Financial Institutions In Multi-jurisdictional Anti-money Laundering Investigations

Worldwide Criminal

KL

Herbert Smith Freehills Kramer LLP

Private Equity Comparative Guide

Hong Kong Commercial

S

Slotine

European Parliament Objects To Removal Of UAE And Gibraltar From 'High-risk' List

Worldwide Government

TS

The Sovereign Group

Following The Midas Trail – Laundering Money Through Gold And Precious Metals

Hong Kong Government

AM

Alvarez & Marsal

Hong Kong Court Of Final Appeal Upholds Legality Of 'No Consent Regime

Hong Kong Finance

MB

Mayer Brown

确认开曼群岛从FATF"灰名单"中除名 - Cayman Islands removal from FATF "grey list" confirmed (Chinese)

Worldwide Finance

O

Ogier

Fighting Digital Fraud With Enhanced Approaches In Hong Kong

Hong Kong Finance

MB

Mayer Brown

Anti Money Laundering Comparative Guide

Hong Kong Government

MB

Mayer Brown

APAC Monthly Private Wealth Legal Developments – August 2023

Worldwide Wealth Mgt

HS

Herbert Smith Freehills Kramer LLP

Haldanes Law Matters Podcasts – Episode 31 With Guest José-Antonio Maurellet SC: The Future Of Law In Hong Kong

Hong Kong Media & IT

HS

Haldanes

Post-IPO Scrutiny In Hong Kong: Where Investigations Arise In The Current Listing Cycle

Hong Kong Strategy

AC

Ankura Consulting Group LLC

Hong Kong’s Debt Markets Come Into Their Own

Hong Kong Finance

TL

Timothy Loh LLP

The Corporate Divorce: Securing A Buy-Out Order In Hong Kong

Hong Kong Media & IT

HS

Haldanes

Preparing For The Crypto-Asset Reporting Framework And The Related Amendments To The CRS And AEOI Frameworks In Hong Kong

Hong Kong Technology

WL

Withers LLP

HKMA Imposes HK$16m Penalty On Bank After AML Disciplinary Proceedings

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...

Hong Kong Government

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Mayer Brown

The Dual Licensing Regime For Virtual Asset Trading Platforms In Hong Kong: Key Highlights – Part 1

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...

Hong Kong Technology

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K&L Gates LLP

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 26 June 2023)

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.

Hong Kong Coronavirus

MB

Mayer Brown

Hong Kong Gives Green Light To Retail Access To Crypto Platforms As Guardrails Are Finalised

With only days left before the commencement of the new virtual asset service provider (VASP) licensing regime on 1 June 2023, the Hong Kong Securities and Futures Commission (SFC)...

Hong Kong Technology

HS

Herbert Smith Freehills Kramer LLP

‘No Consent' Procedure Confirmed Lawful By Hong Kong Court Of Appeal

Hong Kong Litigation

MB

Mayer Brown

Anti-Money Laundering Comparative Guide - Legal And Enforcement Framework

Hong Kong Government

MB

Mayer Brown

Hong Kong SFC Reprimands Another Futures Firm For AML Breaches

Hong Kong Government

MB

Mayer Brown

Hong Kong SFC Paves The Way For Retail Access To Crypto Platforms … Provided Safeguards Are In Place

Hong Kong Technology

HS

Herbert Smith Freehills Kramer LLP

Hong Kong Gets Mixed Ratings In Latest FATF Report For AML Compliance

Hong Kong Government

MB

Mayer Brown

Hong Kong SFC Imposes Sanctions On A Futures Firm For AML Breaches

Hong Kong Finance

MB

Mayer Brown

Passage Of Anti-Money Laundering And Counter-Terrorist Financing (Amendment) Bill 2022

Hong Kong Government

MB

Mayer Brown

New Regulatory Regime For Virtual Asset Service Providers In Hong Kong – Are You Ready?

Hong Kong Technology

MB

Mayer Brown

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 19 August 2022)

Hong Kong Coronavirus

MB

Mayer Brown

Key Takeaways From Hong Kong's Money Laundering And Terrorist And Proliferation Financing Risk Assessment 2022

Hong Kong Government

MB

Mayer Brown

Passage Of Anti-Money Laundering And Counter-Terrorist Financing (Amendment) Bill 2022

The Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 has been passed by the Legislative Council on 7 December 2022.

Hong Kong Government

MB

Mayer Brown

New Regulatory Regime For Virtual Asset Service Providers In Hong Kong – Are You Ready?

Hong Kong recently announced the framework of a new regulatory regime for virtual assets and associated products and services to combat ML/TF risks.

Hong Kong Technology

MB

Mayer Brown

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 19 August 2022)

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.

Hong Kong Coronavirus

MB

Mayer Brown

Key Takeaways From Hong Kong's Money Laundering And Terrorist And Proliferation Financing Risk Assessment 2022

In July 2022, the Hong Kong government published its second money laundering (ML) and terrorist financing (TF) risk assessment report, based on an assessment completed in 2021, (the "Report").

Hong Kong Government

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Mayer Brown

Mandatory Licensing Regime For Virtual Asset Exchanges In Hong Kong

Hong Kong Technology

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Goodwin Procter LLP

End Of An Era? Hong Kong Court Finds Letters Of No Consent Unconstitutional

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 ...

Hong Kong Criminal

HS

Herbert Smith Freehills Kramer LLP

SFC reprimands responsible officer and manager-in-charge for AML/CFT management failures

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

Hong Kong Commercial

TL

Timothy Loh LLP

Hong Kong Court Of First Instance Rejects Police's Informal Freezing Powers Via Letters Of No Consent

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...

Hong Kong Litigation

WT

Winston Taylor

The Rising Standards Of AML/CFT Compliance In Hong Kong

Hong Kong lawyers Susanne Harris, Wei Na Sim, Alan Linning and Charlene Wong discuss key developments in the AML/CFT space in Hong Kong in 2021 in this bylined article.

Hong Kong Government

MB

Mayer Brown

Hong Kong SFC Unveils Consultation Conclusions On AML/CFT Guideline For Licensed Corporations

Hong Kong Government

MB

Mayer Brown

European Commission To Regulate Residency By Investment (RBI) Programmes

European Union Litigation

TS

The Sovereign Group

Money Lenders: A Tighter Vetting Process

Hong Kong Finance

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Slotine

Money Service Operators & the Anti-Money Laundering Ordinance in Hong Kong

Hong Kong Government

TL

Timothy Loh LLP

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 2 August 2021)

Hong Kong Coronavirus

MB

Mayer Brown

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 19 July 2021)

Hong Kong Coronavirus

MB

Mayer Brown

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 28 June 2021)

Hong Kong Finance

MB

Mayer Brown

Proposals for a Virtual Asset Service Provider (VASP) licensing regime

Hong Kong Government

TL

Timothy Loh LLP

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 31 May 2021)

Hong Kong Coronavirus

MB

Mayer Brown

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 25 February 2021)

Hong Kong Coronavirus

MB

Mayer Brown

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 26 April 2021)

Hong Kong Finance

MB

Mayer Brown

COVID-19 Related Circulars Or Guidance (Non-Exhaustive) Published By Financial Services Regulators Of Hong Kong (Last Updated: 8 March 2021)

Hong Kong Coronavirus

MB

Mayer Brown

How Offshore Firms Are Assisting Investment Managers In An Increased Regulatory Environment

Hong Kong Government

MG

Maples Group

Hong Kong OFCs: The Alternative To The Cayman Islands For Hedge Funds

Hong Kong Finance

TL

Timothy Loh LLP

SFC Enforcement Risks For SFC Licensed Corporations: Trends From 2019-2020

Hong Kong Government

TL

Timothy Loh LLP

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