AML and CFT

When you walk into a currency exchange shop, bank, or any financial service provider in Hong Kong, you might notice that staff ask for your ID and other information before completing certain transactions which reach a certain amount. This isn’t just bureaucracy — it’s part of Hong Kong’s Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) […]

Table of Contents Introduction 1. Unusual Transaction patterns 2. Structuring (Smurfing) 3. Usage of Shell companies 4. Rapid Movement of Funds 5. High-Risk Jurisdictions 6. Inconsistent or false documentation 7. Reluctant to Provide Information 8. Usage of Cryptocurrencies 9. Politically Exposed Persons (PEP) 10. Unusual Business Relationships Introduction Money Laundering and Terrorist Financial are the

When traveling internationally, it’s essential to be aware of the regulations regarding the declaration of Cash and Bearer Negotiable Instruments (CBNIs) at borders. Different countries have varying rules, and understanding these can help you avoid legal issues and ensure a smooth travel experience. In this article, we will discuss on cash declaration in Hong Kong.