Page 39 - Annual Report 2020
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AML/CFT reviews of QFC firms
For the year 2020, the Regulatory Authority’s AML/CFT team
undertook the following AML/CFT supervisory activities,
incorporating full and targeted onsite risk assessments,
desk-based and consultation reviews encompassing
the Annual AML/CFT Return (Q25) and the Annual
Money Laundering Reporting Officer Report to Senior
Management. Onsite risk assessments were conducted
at firms that were risk rated in the “high” to “medium”
categories and based on prescribed supervisory cycles.
AML/CFT reviews of QFC firms - 1 January to 31 December 2020
Desk-based and
Type of Examination Full Onsite Reviews Consultation Reviews Total
Advisor 3 35 38
Bank 6 26 32
Insurer 2 32 34
Insurance Intermediary 5 30 35
Investment Manager 1 16 17
DNFBPs 10 52 62
Total 27 191 218
T ABLE OF C ONTENT S
