The Anti-Money Laundering and Counter-Terrorist Financing Compliance Self-Assessment Form(“AML/CTF Self-Assessment Form”)

  • The Anti-Money Laundering and Counter-Terrorist Financing Compliance Self-Assessment Form(“AML/CTF Self-Assessment Form”)

    The covering period for this AML/CTF Self-Assessment Form applies to all transactions conducted by the Legal Practice between 1 January 2025 and 31 December 2025.

  • Please read the following instructions carefully before proceeding to complete this form.

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  • Section A - Legal Practice Information

  • Rows
  • A4. Type of Legal Practice*
  • A5. Size of the Legal Practice*
  • A6. Does the Legal Practice operate a client money account?*
  • A7. If the Legal Practice does not maintain a client money account, does it hold an exemption granted by the Law Society?

  • Section B - Legal Service Information

  • B1. Does the Legal Practice engage in any of the activities set out under Part 2, Section 5A(3) of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”), and any of the activities defined as "Applicable Situations" set out in Item 2 (Client Due Diligence) under the Table of Mandatory Requirements of the Practice Direction P (“PDP”)? Please select where applicable from the list of activities:*

  • Additional Information:

    *What does “the managing of client money, securities or other assets” mean?

    “Managing” include arranging or making transactions on behalf of a client, going beyond merely holding assets or providing advice. It involves active control or authority over financial assets, such as securities or other property, but it would not include just holding on to assets on behalf of the client or operating a solicitor’s client account. Some examples can include:

    • Transactions – (i) buying or selling securities, assets and property for a client or (ii) executing transactions under a Power of Attorney.
    • Portfolio Administration – overseeing a client’s investment portfolio and reallocating assets. 
    • Asset Transfers – (i) arranging the transfer of securities or valuable assets/ property between parties.

    **What does “management of bank, savings or securities accounts” mean?

    “Management” refers to the exercise of control or authority over financial accounts on behalf of a client, going beyond merely holding assets or providing advice. It involves active administration and operational responsibilities. Some examples include:

    • Opening or closing bank, savings, or securities accounts for clients.
    • Administering accounts for settlement funds, transfers or trust monies.
    • Holding signatory authority or acting under a power of attorney for accounts.
    • Acting as custodian or trustee for investment accounts.
    • Overseeing compliance and reporting obligations related to those accounts.

    ***What does “creation, operation or management of legal persons or legal arrangements” mean?

    This term overlaps with the "trust or company services" definition set out in Section 1 of Part 1 of Schedule 1 to the AMLO, and Question B2 of this AML/CTF Self- Assessment Form. When members select the activity of "creation, operation or management of legal persons or legal arrangements", Questions B2 and B3 will automatically appear, prompting additional queries related to the type of trust or company services provided. Legal Practices offering such services should complete Questions B2 and B3, clearly specifying the types of trust or company services offered by the firm.

  • B2. Does the Legal Practice provide the following "trust or company services" as defined in Section 1 of Part 1 of Schedule 1 of the AMLO? "trust or company service" (信託或公司服務) means the provision, in Hong Kong, by a person, by way of business, of one or more of the following services to other persons. Please select where applicable:
  • B3. In relation to Question B2, in what capacity does the Legal Practice undertake the trust and company services work:
  • B4. Does the Legal Practice operate a company or companies that hold a TCSP licence issued by the Registrar of Companies for the provision of trust or company services in Hong Kong?*

  • Section C - AML/CTF Client Due Diligence Measures

  • For each client engaged in activities or services listed under Questions B1 and B2 of the AML/CTF Self-Assessment Form, did the Legal Practice perform the following Client Due Diligence ("CDD") measures (where applicable)?

  • C1. Did the Legal Practice identify the potential client and verify the client’s identity using documents, data or information provided by a reliable and independent source.*
  • C2. Did the Legal Practice identify and take reasonable measures to verify the identity of any beneficial owner of the client, and, where the client is a legal person or trust, obtain an understanding of its ownership and control structure?*
  • C3. Did the Legal Practice comply with the following measures if a person purports to act on behalf of the client:  (a) identify the person and take reasonable measures to verify the person’s identity using documents, data or information provided by a reliable and independent source; and  (b) verify the person’s authority to act on behalf of the client.*
  • C4. Did the Legal Practice obtain information from the client on the purpose and intended nature of the transaction within the scope of work?*
  • C5. Did the Legal Practice obtain and document information from the client on the business relationship between the client and other interested parties to the transaction?*
  • C6. Did the Legal Practice obtain sufficient information on the source of funding for the transaction, taking into account the money laundering and terrorist financing risks associated with the client and the transaction.*
  • C7. Did the Legal Practice conduct a search of the client’s, beneficial owner’s and connected parties' names against the United Nations Consolidated Sanctions List and the list of designated terrorists or terrorist associates, available at: https://main.un.org/securitycouncil/en/content/un-sc-consolidated-list*
  • C8. Did the Legal Practice assess money laundering and terrorist financing risks associated with a new or existing client by taking into account various factors such as (1) client risk, (2) country risk, (3) service risk, (4) transaction and (5) delivery channels risk for client due diligence.*
  • C9.1 Did the Legal Practice consider the potentially higher-risk factors set out to in the Table of Mandatory Requirements of the PDP, Section 3 (Enhanced Client Due Diligence (“EDD”)) as part of the due diligence process?*

  • Table of Mandatory Requirements of the PDP, Section 3 (Enhanced Client Due Diligence):

     

  • C9.2. Did the Legal Practice apply EDD measures to a business relationship or transaction that, by its nature, presents a high risk of money laundering or terrorist financing taking?*
  • C10. Did the Legal Practice establish and maintain effective procedures for determining whether a client or beneficial owner of a client is a non-Hong Kong Politically Exposed Person (“PEP) and, if applicable, apply EDD measures set out in paragraph 122 of the PDP?*

  • Paragraph 122 of the PDP:

  • C11. Did the Legal Practice take reasonable measures to determine whether a client or a beneficial owner of a client is a Hong Kong PEP or an international organisation PEP and apply EDD measures set out in paragraph 124 of the PDP in a situation where the Hong Kong or the international organisation PEP presents a higher risk of money laundering or terrorist financing?*

  • Paragraph 124 of the PDP:

  • C12. Did the Legal Practice carry out additional measures to mitigate the risk associated with clients not physically present for identification purposes?*
  • C13. Did the Legal Practice ensure compliance with the requirements set out in paragraphs 118.1 and 118.2 of the PDP when relying on client identification and verification conducted by specified intermediaries, including any overseas office of the firm?*

  • Paragraph 118.1 and 118.2 of the PDP:

  • C14. Did the Legal Practice conduct ongoing CDD by reviewing from time to time documents, data and information that have been obtained by the Legal Practice in relation to clients considered as (i) “high risk”, or (ii) where there are changes to instructions or a relationship between the client and relevant party(ies) which give rise to suspicion to ensure they are up-to-date and relevant?*

  • Section D - AML/CTF Compliance Measures

  • D1. Did the Legal Practice put in place appropriate AML/CTF policies and procedures (if needed) to ensure compliance with the Mandatory Requirements set out in Section A (Table of Mandatory Requirements), and paragraphs 22 -33 of the PDP?*
  • D2. Did the Legal Practice arrange for all new and existing staff to receive adequate AML/CTF training, either through internal programs or by attending courses provided by external training providers, including those either developed by the Legal Practice or offered by the Law Society of Hong Kong? Such training should cover the identification and handling of suspicious transactions, updates on relevant legal and regulatory requirements, the Legal Practice’s own AML/CTF policies and procedures, and emerging trends in money laundering, terrorist financing, and proliferation financing techniques.*
  • D3. Did the Legal Practice keep the following documents and records of clients’ identification and due diligence for the period as follows:  (i) Conveyancing matters – 15 years (ii) Tenancy matters – 7 years (iii) Other matters, except criminal cases – 7 years (iv) Criminal cases – 5 years from expiration of any appeal period (v) Records of transitions which are subject to suspicious transaction report (“STR”) and investigation - until the relevant authority confirms case closure.*
  • D4. Did the Legal Practice check from time to time the Law Society’s AML resources and updates published on its website to stay informed and to obtain relevant information? The Law Society’s AML website: https://www.hklawsoc.org.hk/en/Support-Members/Professional-Support/AML/AML-Resources*
  • D5. Would the Legal Practice like to receive the AML/CTF training delivered by the Law Society's AML team, focusing on the application of AML/CTF requirements and the Law Society's compliance tools?*

  • Thank you for taking the time to complete this AML/CTF Self-Assessment Form.

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