Highlights from our Regulatory & Compliance Event with Dow Jones

In 2022, the FATF amended the procedures for conducting mutual evaluations and follow‑up monitoring of its members. These evaluations assess the effectiveness of members in tackling money laundering, terrorist financing, the financing of proliferation of weapons of mass destruction, and the level of technical implementation of the FATF Standards.

Yesterday, we had the honor to participate at an event organised by Dow Jones dedicated to the topic "The Impact of FATF's Latest Amendment to Macau's Upcoming Mutual Evaluation".

The event kicked off with a warm welcome from Jacky Lo, followed by Tony Tse, Chief Inspector of the Hong Kong Police Force, who discussed Hong Kong's money laundering landscape.

Antonio Tam and Daniela Guerreiro then shared their insights on Enhancing Compliance for FATF Revised Recommendations, especially in relation to the new "multi-pronged approach" of R24, non-conviction based confiscation mechanisms of R4 and NPOs of R8. Antonio and Daniela also discussed about the impact of these revised Recommendations and Macau legislative updates (such as the Macau Trust Law) and their impact to Macau's upcoming 5th Mutual Evaluation.

After a networking break, the sessions delved into Best Practices for KYC Screening and Negative News Screening, with experts Jeremy Chan and Sharon Chu providing guidance.

We extend our thanks to the Dow Jones team and all the speakers and attendees who contributed to the success of this event.