| Author : | Heather Mui Fong Lee and Say H Goo |
|---|---|
| Category : | Journal Article |
| Department : | Accountancy |
| Year / Month : | 2023 / 04 |
| Source : | Journal of Business Law. Issue 2, 120-138. |
Abstract
- This article discusses the practical challenges facing accountants, the gatekeepers in the financial market, as a result of the expanded and non-traditional scope of work imposed on them by the anti-money laundering (AML) and counter-terrorist financing (CTF) measures under the current legal and regulatory regime in Hong Kong. It takes into consideration the enactment of the recent technical amendment to the AML regime and the launch of a new regulatory framework, both expected to be effective from 2022, as well as similar measures under the regimes of Australia, the UK and the US. Suggestions for enhancing the effective and efficient implementation of the new measures are also examined and discussed.
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