![]() The customer has little knowledge of the details or nature of the transaction.Long-awaited rule making and guidance took effect on January 3, 2011, with respect to the scope of Suspicious Activity Report (“SAR”) confidentiality and expansion of sharing SAR information with affiliates. ![]() Information provided by the customer cannot be verified. Information provided by the customer is not commensurate with the records of the customers or transactions in hand. The customer refuses or is reluctant to provide supporting documents.The customer refuses or is reluctant to respond to questions or the answers are not convincing. The customer fails to disclose specific role / relationship / ownership of property in question. Unfavourable information of the customer is revealed by checking against commercially available databases or open sources. The transaction is to deal with unrelated party or party in unrelated jurisdiction.The property related to the transaction is unusually over-valued or under-valued. The frequency of transactions with the customer is unusually high. Off-shore bank account is used with no apparent legitimate business, economic or other reason.Payment made or received is not related to the business of the customer. Payment is made by a 3 rd party or by means of cashier order or other unusual means of payment. The customer has no known nexus with Hong Kong. The customer is from a high-risk jurisdiction. The customer or a beneficial owner of the customer is a politically exposed person.The beneficial ownership of the customer is obscured. The corporate structure of the customer is complex and/or comprising entities from different jurisdictions. Please visit JFIU’s website at for full details of the reporting methods and advice.Įxamples of indicators for identifying suspicious transactions under the SAFE Approach You are strongly encouraged to use the STR proforma or the e-reporting system named Suspicious Transaction Report and Management System (STREAMS) to report suspicious transactions. Screen the relevant account for suspicious indicatorsĭetails of the SAFE approach are available at JFIU’s website ( How to submit a Suspicious Transaction Report (STR)? Four steps are involved in the SAFE approach: You may adopt, where applicable, the “SAFE” approach as recommended by JFIU in identifying and reporting suspicious transactions. Implementing an effective systemic approach to identify suspicious transactions will safeguard you and your company from the risk of being involved with money laundering and terrorist financing. ![]() Failure to report such knowledge or suspicion is a criminal offence and may be liable on conviction to a fine and to imprisonment. These obligations apply to any person, including a company and every officer of a company. Under the Drug Trafficking (Recovery of Proceeds) Ordinance (Chapter 405), the Organized and Serious Crimes Ordinance (Chapter 455), and the United Nations (Anti-Terrorism Measures) Ordinance (Chapter 575), when a person knows or suspects that any property represents proceeds of drug trafficking or an indictable offence, or is terrorist property, a disclosure must be made to the Joint Financial Intelligence Unit (JFIU) of the Hong Kong Police as soon as it is reasonable to do so. The detail of this page The Statutory Requirements While some popular browsers are included here, mention of a specific browser does not imply any endorsement or recommendation. On the View menu, select Make Text Bigger.ĬR does not endorse specific web browsers or recommend one browser over another. ![]() Or you may click on the IE Settings icon, select Zoom, then choose a percentage or click Zoom In. On the View menu, select Text Size, then Largest. Or you may click on the Menu icon and select + or - to make the text size bigger or smaller. On the View menu, select Zoom, then Zoom In. On the Page menu, select Zoom, then Larger. Choose from the following web browsers for specific instructions: You may also change the text size from the menu. to enlarge) and pinch close to zoom out (i.e. On a smartphone or a tablet, you can simply pinch open on the screen to zoom in (i.e. If you browse on Companies Registry (CR) Homepage on a desktop computer, a modern web browser will allow you to hold down the Ctrl key (Command key on a Macintosh) and press the + or - key to increase or decrease the text size, and 0 to go back to the default size. Now with this responsive web design, you can easily change the text size to fit your eyesight needs.
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