-Hong Kong banking regulator to enhance anti-money laundering team.
Global Banking News - 25 April 2013
The banking regulator in Hong Kong has said that it is doubling its anti-money laundering team.
The team size is to be doubled to strengthen supervision amid intensifying scrutiny of monitoring and compliance systems at global financial institutions. The Hong Kong Monetary Authority is to increase its team size to 22.
Stewart McGlynn, head of anti-money laundering supervision at the HKMA, said, 'Where we don't see improvements, where we do see money laundering and terrorist financing risk, where we do see breaches of the legal and regulatory requirements we will be prepared to take tough actions.'
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|Publication:||Global Banking News (GBN)|
|Date:||Apr 25, 2013|
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