Joint Financial Intelligence Unit


2017 Joint Financial Intelligence Unit Annual Report

Hong Kong Police Force

Custom and Excise Department

Welcome to the web site of the Joint Financial Intelligence Unit (JFIU) web site. The web site is designed to provide members of the public in Hong Kong, especially the financial institutions (FIs) including banks, securities and insurance companies, money service operators, money lenders and stored values facility licensees, and the designated non-financial businesses and professions (DNFBP) including legal and accounting professionals, estate agents, trust or company service providers and precious metal and stone dealers, a greater understanding of the laws on money laundering and terrorist financing, and the need to make reports about suspicious transactions.

We hope that any questions which you may have can be answered in the following pages. However, if you need any further information, please feel free to contact JFIU staff. Details of how to contact us can be found in the section Contact Us.

Introduction

It is very important that Hong Kong, as a major financial center maintains an effective anti-money laundering and counter-financing of terrorism regime to safeguard the integrity and stability of our financial system. Money laundering and terrorist financing can have devastating consequences and if we do not put in place proper countermeasures in accordance with international standards, the risk of criminals using Hong Kong for their illicit funds and illegal activities will increase. Hong Kong must guard against such a situation that would adversely affect all our livelihoods.

Anti-money laundering and counter-financing of terrorism is everyone’s responsibility. When you come across any property, which you know or suspect to be drug or crime proceeds or terrorist property, you should make a suspicious transaction report (STR) to the JFIU.

Failing to report knowledge or suspicion of crime proceeds or terrorist property is a criminal offense, which carries a maximum penalty of a fine at level 5 and imprisonment for 3 months' imprisonment.