The Government of Hong Kong and independent regulatory bodies in Hong Kong such as the Law Society have been very active in recent years strengthening Hong Kong's anti-money-laundering regime. And the regulations are under continual review as the various authorities in charge work to keep abreast of the best international practice and advice from bodies like the Financial Action Task Force.
Of course, this places a growing burden on companies and individuals. Money laundering investigations and prosecutions in Hong Kong rose sharply following the imposition of new regulations in 2012, and this is likely to continue. These can be time consuming, distracting, potentially embarrassing and sometimes devastating, if criminal prosecutions are instigated. Taking time now to think about your anti-money-laundering procedures can pay dividends.
Our experienced team can help to guide you through this ever-changing regulatory landscape. Our experience includes advising generally on the legislation and guidance rules, designing compliance audits and processes, drafting and reviewing anti-money laundering policies and documents, as well as providing training and advice on specific situations as they arise. We can also assist clients in investigations and negotiations with the authorities. We have helped clients ranging from large private banks, through insurance companies and world renowned casino companies to international law firms with their AML compliance and policies.
If you would like to discuss how we could help you or your company in relation to anti-money-laundering issues, we would be delighted to hear from you.