... risk analysis. As the FATF will continue to assess the progress made by these jurisdictions in addressing the deficiencies in their AML/CFT systems and issue updated statements from time to time, IIs are reminded to browse the website of the FATF for the latest information. (c) Other Outcomes from the...

... carrying on regulated activities in respect of long term business (“insurance institution”) if the insurance institution contravenes a specified provision as defined by section 5(11) of the AMLO. 1.2. In exercising the power to impose pecuniary penalty referred to in section 21(2)(c) of the AMLO, the IA...

... sufficient governance to ensure safe and sound operation; (b) Setting a risk appetite statement that is supported by clear and well-documented risk limits structure and risk management policies and procedures; (c) Encompassing regular activities of risk identification, risk quantification, risk monitoring...

... latest international and domestic AML/CTF developments; b) to raise the participants’ awareness of key aspects of AML/CTF systems and controls from regulator’s perspective; c) to share money laundering typologies and enhance the participants’ understanding of the statutory obligations of suspicious...

... pecuniary penalty referred to in section 21(2)(c) of the AMLO, the IA shall have regard to this Guideline which indicates the manner in which it proposes to exercise that power. 2. Considerations in exercising the Insurance Authority’s power to impose pecuniary penalty 2.1. As a matter of policy, the IA...

... carrying on regulated activities in respect of long term business (“insurance institution”) if the insurance institution contravenes a specified provision as defined by section 5(11) of the AMLO. 1.2. In exercising the power to impose pecuniary penalty referred to in section 21(2)(c) of the AMLO, the IA...

... company which is seeking authorization or which is authorized under section 8 of the Ordinance to carry on insurance business; or (b) an association of underwriters which is seeking approval or which is approved under section 6(1)(c) of the Ordinance. 2 3. Application Rule 1 - Application 3.1 The Rules...

... activities; (b) Layering - separating illicit proceeds from their source by creating complex layers of financial transactions designed to disguise the source of the money, subvert the audit trail and provide anonymity; and (c) Integration - creating the impression of apparent legitimacy to criminally derived...

... Region of the People’s Republic of China, the Insurance Authority. (b) “requested Authority” means an Authority to whom a request under this Memorandum is addressed. (c) “requesting Authority” means an Authority making a request under this Memorandum. (d) “insurer” or “insurance company” means a licensed...

... the receiving Authority other than by reason of any breach by the receiving Authority of any obligations under this Memorandum; or (iii) was in the receiving Authority’s possession prior to 3 disclosure to it (provided that such information is not under any confidentiality requirements). (c) “Hong...