HKMA tipped to step up AML enforcement

Jan 18, 2015

The city's banking regulator is set to use a an as-yet-unused anti-money laundering ordinance to punish financial institutions for compliance failings, predicts consultancy EY.

A wave of anti-money laundering (AML) actions is expected this year against financial institutions in Hong Kong as their regulator finally imposes sanctions under an unused ordinance, said consultancy EY.

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