There are 4 main pieces of legislation in Hong Kong relevant to legal practitioners that concern money laundering and terrorist financing, namely:

  • Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (AMLO)
  • Drug Trafficking (Recovery of Proceeds) Ordinance (Cap. 405) (DTRPO)
  • Organized and Serious Crimes Ordinance (Cap. 455) (OSCO)
  • United Nations (Anti-Terrorism Measures) Ordinance (Cap. 575) (UNATMO)
  • United Nations Sanctions Ordinance (Cap. 537) (UNSO)

In addition, law firms, solicitors and foreign lawyers practising in Hong Kong have to comply with the AML / CTF requirements contained in the revised version of Practice Direction P (PDP) – Guidelines on Anti-Money Laundering and Terrorist Financing, dated September 2018.

The AMLO designates the Hong Kong Law Society as the regulatory body for overseeing compliance by legal professionals with the statutory Client Due Diligence and Record-Keeping requirements.