Hong Kong

AML / KYC

HK Bank-to-bank Information Sharing Platform to Launch in June

By Manesh Samtani | 26/04/2023

Authorities are also considering co-locating bank staff at the ADCC, as this has helped to reduce stop payment response times and enhance loss recoveries in other jurisdictions like Singapore.

AML / KYC

HKMA Sets Loss-Sharing Expectations for Payment Card Fraud

By Manesh Samtani | 26/04/2023

To the extent that the cardholders have not acted fraudulently or with gross negligence, they “should not be held liable for the unauthorised transactions”.

Fintech / Regtech

HKMA, PBOC Explore Use of CBDC for Cross-border Payments

By Editors | 26/04/2023

HKMA deputy chief Darryl Chan said there is scope to expand the Wealth Management Connect scheme and use CDI data for cross-border finance.

Market Infrastructure

Stock Connect Trading Calendar Enhancements Take Effect

By Editors | 25/04/2023

The enhancements will add about 10 trading days to northbound and southbound Stock Connect each year.

ESG / Sustainability

GBA Green Finance Alliance Launches Technology Working Group

By Editors | 25/04/2023

At a meeting hosted by the HKGFA, the Alliance launched a technology working group and unveiled plans to form another working group focused on transition finance.

AML / KYC

OFAC Sanctions Three for Facilitating Lazarus Group Activities

By Editors | 25/04/2023

China-based and Hong Kong-based crypto traders and a North Korean national were sanctioned for laundering illegal proceeds for Lazarus Group.

ESG / Sustainability

HKMA Enhances Climate Risk Stress Testing Framework

By Manesh Samtani | 24/04/2023

Key enhancements include the introduction of a new five-year scenario, additional assessment requirements, and more detailed reporting requirements.

ESG / Sustainability

Hong Kong the Top Market for ESG Investment Training

By Manesh Samtani | 24/04/2023

Paul Moody explains why CFA Institute has seen more growth around its ESG certificate in Hong Kong than in any other market globally.

Crypto / Digital Assets

HK CBDC May Be Developed on Permissioned Blockchain

By Sanday Chongo Kabange | 21/04/2023

The HKMA has asked banks to “review and research and then propose” an implementation approach for the e-HKD.