According to Odaily, the Hong Kong Monetary Authority (HKMA) has issued a notice to banks and licensed stored value facility holders. The notice details the results of a meeting held last month by its Financial Action Task Force (FATF), identifying jurisdictions with strategic deficiencies in their systems for combating money laundering, terrorist financing, and proliferation financing.
The HKMA stated that the FATF has completed its fifth targeted review of virtual assets and virtual asset service providers, implementing relevant anti-money laundering measures. The task force will continue to monitor market trends and watch for significant developments that may require further action. The report on this review will be published in the coming weeks.