Page 29 - Annual Report 2022 EN
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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
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