Latest issue of Hong Kong's Money Laundering and Terrorist Financing Risk Assessment Report published

     The Government today (July 8) published the latest issue of Hong Kong's Money Laundering and Terrorist Financing (ML/TF) Risk Assessment Report.
     To ensure that the anti-money laundering and counter-financing of terrorism (AML/CFT) regime of Hong Kong can address challenges brought about by the ever-changing market developments, the Government updates the ML/TF risk assessment from time to time so that the Government can implement mitigating measures in response to relevant risks based on the updated assessment results. The risk assessment is prepared based on the requirements of the Financial Action Task Force (FATF). It examines the ML/TF threats and vulnerabilities facing various sectors in Hong Kong and the city as a whole in recent years, as well as assesses the risk of proliferation financing faced by Hong Kong for the first time. 
     "As an international financial centre, Hong Kong attaches great importance to safeguarding the integrity of its financial systems. Hong Kong received positive recognition of its AML/CFT regime from the FATF in 2019. The latest risk assessment takes into account the recommendations tendered by the FATF and examines risks arising from the new requirements that have been or are planned to be introduced by the FATF. The report covers the latest ML/TF trends and typologies as well as matters of international and regional concern. The risk assessment can help the Government formulate informed policies to continually strengthen our AML/CFT work," a government spokesperson said.
     To address the risks identified in the assessment, the Government will focus on five major areas of work: enhancing the AML/CFT legal framework, strengthening risk-based supervision and partnerships, stepping up outreach and awareness-raising, monitoring new and emerging risks, and strengthening law enforcement efforts and capability of gathering intelligence. In particular, the Government will introduce a legislative proposal to the Legislative Council to amend the Anti-Money Laundering and Counter-Terrorist Financing Ordinance to introduce a licensing regime for virtual asset service providers and a registration regime for dealers in precious metals and stones in order to mitigate the ML/TF risks of the sectors and protect investors.
     The Government will continue to monitor and respond to ML/TF risks with vigilance amidst the evolving international landscape.
     The FATF is an inter-governmental body that sets international standards on combating ML/TF. It is incumbent upon Hong Kong, as a member of the FATF since 1991, to observe the AML/CFT recommendations of the FATF.
     The Risk Assessment Report is available at

Ends/Friday, July 8, 2022
Issued at HKT 16:00