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AML/CFT Reviews of regulated firms in 2023 Risk Assessment Visits (RAVs)

The AML/CFT 2023 Risk Assessment Visits schedule was completed, with results reported 27 RAVs were conducted during 2023 for both
below. The AML/CFT reviews included 27 onsite reviews, of which two were focused reviews FIs and DNFBPs, resulting in the issuance of

and 25 targeted onsite reviews, 100 consultation reviews and 250 desk-based reviews. 4 Risk Mitigation Programmes (RMPs) and 19

feedback/action letters and 2 clean reports.

AML/CFT reviews in 2023

FIs DNFBPs
AML/CFT reviews of QFC firms - 1 January to 31 December 2023

RMP issued 2 2

Full Onsite Consultation Targeted Onsite Desk-based
Type of Examination Reviews Reviews Reviews Reviews Total RMP items issued 6 9

Banks 1 1 11 1 37 50
3 (2023 RMP)
RMP Items closed 6 (2022 RMP)
Insurers and Intermediaries 1 28 5 44 78 13 (2022 RMP)

Investment Managers 0 7 1 41 49
Feedback letters issued 9 10

Advisory Firms 0 9 2 39 50
Action items 30 39

Representative Offices 0 1 0 5 6
Clean Reports 1 1

DNFBPs 0 44 16 84 144

One new matter in connection with a DNFBP was
Total 2 100 25 250 377
referred to Enforcement in 2023, noting the AML/

CFT team continued to support Enforcement with
ongoing enforcement matters and previous referrals.

1 One joint RAV with Supervision