(Ju6) (Live Presentation VC and Webinar) (RME Elective) Risk Management: Money Laundering and the legal requirements of a DNFBP

Date:  03 June 2023 (Saturday)  Time: 9:15am – 1:00pm  Language: English  Level: Advanced

Speaker: Dr Rita Cheung, MCAL Solicitors LLP

Lawyer/Trainee Solicitor/Foreign Lawyer  Other Professionals’ Elective RME &CPD Points:4

Fee: HK$2,350

It will repeats on 31 October 2023 Tuesday from 2pm to 5:45pm (O6)

Highlight : This workshop has lecture, case studies and group discussion to assist delegates in understanding the legal aspects of Hong Kong’s new money laundering landscape. We shall analyze the practical implications of the Anti– Money Laundering Ordinance “AMLO” (cap 615) enacted on 1st April 2012 and the framework of Hong Kong’s anti-money laundering and anti-terrorist legislation for legal practitioners. We shall examine the definitions of money laundering and terrorist- financing in the new framework of anti money-laundering (AML)” and counter -terrorist financing (CTF) and the concerns of the Law Society for the Designated Non-Financial Business and Professions (DNFBP)].

We shall look specifically at changes in the Hong Kong’s banking and regulatory regimes as a result of problems in the law relating to AML and CTF and possible impacts on legal advisors. Delegates will discuss the significance of FATF and its criticisms of Hong Kong anti-money –laundering and counter –terrorism financing laws in the context of FATF’s February 2012 recommendations for Hong Kong.

In particular, delegates will participate in a discussion on the role of Hong Kong solicitors under the Law Society Practice Chapter 24 and the obligations of solicitors under the Personal Data (Privacy) Ordinance cap 486. Delegates will also examine the comments of the Privacy Commissioner on the disclosure of information to the relevant authorities and the role of the Joint Financial Intelligence Unit (JFIU) in the investigation and enforcement of AMLO.

Finally, we shall analyze relevant sections in AMLO and apply these to Hong Kong case studies with particular reference to corporate compliance with the Organized and Serious Crimes Ordinance (cap 405); The Drug Trafficking (Recovery of Proceeds) Ordinance (cap 575) and AMLO (cap 615). Delegates will be particularly interested in the District Court judgment in the March 2014 money laundering case against Carson Yeung in which the Defendant was convicted of 5 counts of money laundering and we shall spend the last part of the Seminar analyzing the application of cap 405 in this landmark Hong Kong case.

Remark: All eligible lawyers including partners, sole proprietor, consultants, assistant solicitors, foreign lawyers and trainees should take at least 3 Elective RME points each year. All solicitors can have 4 CPD points per seminar. However, we will give the priority to all eligible solicitors in obtaining elective RME points and CPD points.

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Anne Carver
Anne Carver is a legal expert with over 25 years of experience in Academia and Professional Consultancy. She has complete commercial independence and has specialised in Corporate Governance and Ethics, which has been applied on numerous Government, Professional and University committees. She is also the author of Hong Kong Business Law , used as part of the HK legal and business curriculum. She is also the co-author with Say Goo of Corporate Governance- The Hong Kong Debate and has taught and written extensively on company and business law in Hong Kong.