Hong Kong HKMA Customer Address AML

On 11 October, HKMA, SFC issued AML guidelines on address verification.

  • HKMA has been reviewing its anti-money laundering and counter-terrorism guidelines.
  • Has agreed to remove the address verification requirement currently in the AML guide.
  • FIs will only be required to collect address information without documentary evidence.
  • For now absence of verification of address will be regarded as justified under para 1.7.
  • Highlights there may be other reasons that AI is required to verify customer address.