(FULLY BOOKED) BDO SEMINAR: LATEST REGULATORY DEVELOPMENT ON ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING FOR DESIGNATED NON-FINANCIAL BUSINESSES AND PROFESSIONS

Since the "Anti-Money Laundering and Counter-Terrorist (Financial Institution) Ordinance”have come into operation on 1 April 2012 in Hong Kong, the Registered Institutions, Licensed Corporations, Stored Value Facilities, Insurance Companies and their associated entities have put greatest effort to combat money laundering and financing of terrorism.

On 23 June 2017, the Hong Kong Government introduced a bill into Legislative Council to amend the abovementioned Ordinance in which the AML/CFT standards will be applied to solicitors and foreign lawyers, accountants, estate agents and trust or company service providers (collectively called designated non-financial businesses and professions,“DNFBPs”). It is expected that the revised Ordinance will come into operation on 1 March 2018 after passaging through the Legislative Council.

In this seminar, you will be given an introduction of the relevant AML standards which would be applied to the DNFBPs. The followings will be covered in the seminar:

Complying with the new AML standards by the DNFBPs

• Reviewing the latest AML/CFT enforcement cases in Hong Kong and equivalent jurisdictions
• Introducing AML/CFT management framework to ensure adherence to the regulatory requirements and expectations
• Sharing the importance of risk-based client risk assessment and the relevant due diligence measures
• Meeting record-keeping requirements by maintaining necessary and sufficient client data and information

Implementing effective AML/CFT technologies for the DNFBPs

• Applying data analytics in institutional ML/TF risk assessment, customer risk assessment, case management, sanctions screening as well as development of AML/CFT system

Seats are limited and available on a first-come, first-served basis.

About the speakers

SPEAKER - VENICE LAI, Senior Manager of Risk Advisory Services, BDO Limited
Venice has over 10 years of experience in providing regulatory and financial crime compliance advices and conducting a number of compliance review projects for several financial institutions. Venice has in-depth knowledge and experience in institutional ML/TF risk assessment, customer risk assessment, customer due diligence, sanctions screening, transaction monitoring, suspicious transaction investigation and reporting as well as AML/CFT trainings.

Further, she gained experiences as a member of the AML enhancement task force at a reputable and sizeable bank and supported numerous AML remediation projects in complying with the regulatory requirements and recommendations. Venice is also an Associate AML Professional (AAMLP) designated by the Hong Kong Institute of Bankers.

SPEAKER - RICKY LIU, Senior Manager of Risk Advisory Services, BDO Limited
Ricky has over 10 years of international experience in industry and professional services. With a mixed business and information technology background, he has worked extensively with FTSE 100 companies to provide IT advisory and assurance services. 

His expertise covers various services such as business analysis and process improvement, cyber security, internal audit, data analytics and protection and forensic technology. 

His relevant specialist areas include:

• Penetration testing
• Cybersecurity vulnerability assessment
• Data governance and protection
• Information security management and Audit
• Computer Aided Audit Techniques (CAATs)
• Incident response planning
• ISO 27001 series
• NIST cyber security framework
• PCI DSS

The portfolio of clients managed by Ricky comes from various industries including electronic payment, telecommunication, automotive, fast moving consumer goods, pharmaceutical, media, financial institutions such as brokerage houses and derivative products company.

Programme

Details are as follows: