At a time when China is taking a stricter stance on financial irregularities the U.S. based Association of Certified Anti-Money Laundering Specialists has opened an office in Hong Kong. <\/p>\n
Gregory Calpakis, a certified anti-money laundering specialist and executive director of ACAMS, said that because Hong Kong is one of the world's financial centers ACAMS was thrilled with the opportunity to establish a local presence to help further anti-money laundering awareness and establish a network of anti-money laundering and counter-terrorism financing professionals in Asia.<\/p>\n
ACAMS plans to establish appropriate region-specific training such as on-site seminars and web seminars, establish local chapters and grow its membership base throughout Asia in order to foster regulatory cooperation and professional networking.<\/p>\n
According to ACAMS, with the accession of China into the Financial Action Task Force in 2007, and both India and Korea granted observer status, Asia is set to play a bigger role in shaping the AML\/CFT landscape. For example, according to the 2007 China Anti-money Laundering Report released by the People's Bank of China, 4,533 financial institutions in China were subject to on-site inspection by the central bank in 2007, and 350 of these were punished for infringements of the regulations with the total fines amounting to CNY26.52 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
At a time when China is taking a stricter stance on financial irregularities the U.S. based Association of Certified Anti-Money Laundering Specialists has opened an office in Hong Kong.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[3872,3876,3875,3871,895,3545,3873,3877,3874,43],"class_list":["post-4191","post","type-post","status-publish","format-standard","hentry","category-law-order","tag-acams","tag-aml","tag-asia","tag-association-of-certified-anti-money-laundering-specialists","tag-bank-of-china","tag-cams","tag-counter-terrorism","tag-ctf","tag-financing","tag-hong-kong"],"acf":[],"yoast_head":"\n