Category

Money Laundering

Category

In brief On 10 April 2024, the Hong Kong Court of Final Appeal (CFA), Hong Kong’s highest court, delivered its judgment in Tam Sze Leung & Ors v Commissioner of Police [2024] HKCFA 8, affirming the validity of the ‘No Consent Regime’ (“Regime”) of the Hong Kong Police (“Police”). As we set out in our previous alerts (here, here and here), the Regime encompassed a practice of issuing “Letters of No Consent” (LNCs) to financial institutions for customer accounts that…

In Brief Cyber fraud remains a significant risk to businesses and individuals. In the 11 months to November 2021, over 500 phishing scams, worth more than HKD 1.4 billion in losses, were reported to the Hong Kong Police. The Police have been developing and will soon launch a free software to assist businesses in identifying phishing scams.[1] On 30 December 2021, the Hong Kong Court of First Instance handed down an important judgment in Tam Sze Leung…