Comparative Guides

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Financial crime
What provisions govern money laundering and other forms of financial crime in your jurisdiction and what specific implications do these have for fintech companies?
Hong Kong

Answer ... The Anti-money Laundering and Counter-Terrorist Financing Ordinance (Cap 615) and the Organized and Serious Crimes Ordinance (Cap 455) govern money laundering and other financial crime in Hong Kong. As payment services is a key area of fintech, fintech companies should ensure compliance with the relevant provisions through know-your-customer procedures and customer due diligence.

For more information about this answer please contact: Dominic Wai from ONC Lawyers