..., procedures and controls (hereafter collectively referred to as “AML/CFT Systems”) with a view to managing and mitigating ML/TF risks. Institutional ML/TF risk assessment 2.2 The institutional ML/TF risk assessment forms the basis of the RBA, enabling an II to understand how and to what extent it is...

..., procedures and controls (hereafter collectively referred to as “AML/CFT Systems”) with a view to managing and mitigating ML/TF risks. Institutional ML/TF risk assessment 2.2 The institutional ML/TF risk assessment forms the basis of the RBA, enabling an II to understand how and to what extent it is...

...) forward-looking view with a reasonably long time horizon (which normally covers at least three years) consistent with the nature of the risks, including risks pertaining to the group that may affect the 6 insurer’s operations in Hong Kong and the insurer’s business planning horizon; (d) ability to address...

... override the provision of any law. A non-compliance with the provisions in this Guideline would not by itself render an authorized insurer liable to judicial or other proceedings. A non-compliance may, however, reflect on the IA’s view of the continued fitness and properness of the directors or controllers...

... override the provision of any law. A non-compliance with the provisions in this Guideline would not by itself render an authorized insurer liable to judicial or other proceedings. A non-compliance may, however, reflect on the IA’s view of the continued fitness and properness of the directors or controllers...

... the IA’s view of the continued fitness and properness of the directors or controllers of authorized insurers to which this Guideline applies. The IA may also take guidance from this Guideline in considering whether there has been an act or omission likely to be prejudicial to the interests of policy...

... of CDD and ongoing monitoring is appropriate in view of the customer’s ML/TF risks. 16 3.3 There are no universally accepted methodologies that prescribe the nature and extent of an RBA. However, an effective RBA does involve identifying and categorizing ML/TF risks at the customer level and...