Consultations on Legislative Proposals to Enhance Regulatory Regime for Combating Money Laundering and Terrorist Financing

The Chamber has submitted its views to a government consultation on proposals to reinforce legislation and regulate certain non-financial businesses and occupations for combating money laundering and terrorist financing in Hong Kong. In its submission of 3 March, the Chamber agrees in principle with the spirit to promote business compliance but points to questions regarding the practicality, reasonableness and proportionality of the Government’s approach to achieving such goals.