Compliance

Identification

Under Hong Kong law as administered by the Joint Financial Intelligence Unit, ABC Bullion is required to obtain, verify and record specific business and identification information about its clients before opening a business relationship and establishing an account.

The Drug Trafficking (Recovery of Proceeds) Ordinance (DTROP) is the anti-money laundering legislation and the Organised and Serious Crimes Ordinance (‘OSCO’) extends money-laundering offences. In addition, the United Nations (Anti-Terrorism Measures) Ordinance (‘UNATMO’) also implements certain elements of the FATF’s Nine Special Recommendations. Together, the Hong Kong regulators implement a risk-based approach to customer due diligence and ongoing monitoring.

ABC Bullion has set up an on-going program to comply with Hong Kong legislation, manage future changes to be made and ensure all Management and Staff are fully trained and updated at the monthly compliance meeting. We utilise independent third party auditors to ensure we comply with Hong Kong regulatory annual requirements.