Mandatory JFIU STREAMS 2 Transition
The launch of STREAMS 2 in 2026 mandates fully electronic suspicious transaction reporting for all practitioners.
-
-
Law Society Launches Screening Tool
A new 2026 AML screening tool impacts compliance standards for legal and corporate service providers.
-
C&ED Enforces FATF Countermeasures
An October/November 2025 Customs circular requires MSOs to apply heightened countermeasures against FATF-listed high-risk jurisdictions.
-
Customs Mandates Electronic Form 11 for MSO
A May 2025 C&ED circular requires MSOs to submit quarterly periodic transaction returns exclusively via the MSOS portal.
-
Companies Registry Updates TCSP Guidelines
Revised CR guidelines reduce the CDD verification timeline to 30 days and mandate biennial Institutional Risk Assessments.
-
Customs Penalizes Four Non-Compliant MSOs
In September 2024, Hong Kong Customs took formal disciplinary actions against four MSOs for statutory CDD and transactional breaches.
-
Customs Disciplines Non-Compliant MSOs
On April 30, 2024, Hong Kong Customs issued formal disciplinary action against money service operators for statutory AMLO contraventions.
-
Companies Registry Launches Inspection Phase
Phase 3 of the New Inspection Regime commenced, withholding sensitive personal data and requiring TCSPs to apply as specified persons.
-
Customs Sanctions MSO Bank Account Lapses
In September 2023, Customs penalised an MSO for failing to report bank account changes within statutory deadlines.
-
Introduction of Former PEP Rules
Statutory amendments effective April 2023 establish a risk-based approach for handling former Politically Exposed Persons.
