The Financial Action Task Force (FATF) published the Mutual Evaluation Report of Hong Kong on 4 September 2019, commending Hong Kong's efforts in combating money laundering and terrorist financing (ML/TF).
The Report, which assesses the compliance and effectiveness of Hong Kong's anti-money laundering and counter-terrorist financing (AML/CTF) regime against the international standards, confirms that Hong Kong has a strong legal foundation and effective system for combating ML/TF. The Report notes that the system is particularly effective in the areas of risk identification, law enforcement, asset recovery, counter-terrorist financing and international co-operation. Hong Kong's AML/CTF regime is assessed to be compliant and effective overall, making it the first jurisdiction in the Asia-Pacific region to have achieved an overall compliant result in the fourth round of FATF evaluation.
The Report can be accessed at https://www.fatf-gafi.org/en/countries/detail/Hong-Kong-China.html.