Page 46 - Annual Report 2017

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AML/CFT supervisory statistics
The Regulatory Authority implemented its 2017 AML/CFT Strategic
Plan and Supervisory Strategy to evaluate compliance with the
AML/CFT Law and the AML/CFT Rules. This strategy incorporated
risk-rating all firms, on-site assessment visits, thematic reviews, out-
reach and market conduct in conjunction with ongoing mutual
assistance, and engagement with other State authorities.

Table 1: AML/CFT reviews 2017

Type of Full Consultation Thematic Desk-based Total
Examination On-site Reviews Reviews* Reviews*
Reviews
Banks 1 3 6 68 78
Insurance 3 3 - 43 49
Companies
Investment - - - 24 24
Management
Companies
DNFBPs 28 - - 61 89

Total 32 6 6 196 240

*Includes follow up action and reviews of reports submitted by firms (annual MLRO
reports, biennial independent review reports, and non-resident MLRO reports).

AML/CFT reviews of QFC firms sector-wide
in percentages

2017 2016

33% BANKS 26% BANKS
19% INSURANCE 25% INSURANCE
8% ASSET MANAGEMENT 6% ASSET MANAGEMENT
40% DNFBP 43% DNFBP