Embracing the AML/CTF Challenge: Pulling Back the Curtain on Chinese HNWIs with an Effective AML Program

Yam Yat Ming Provis

The rise of High Net Wealth Individuals (“HNWIs”) in China has fostered great opportunity for financial institutions, especially the private banks. This whitepaper will attempt to pull back the mysterious curtain on the Chinese HNWIs and suggest what an auditor should focus on when assessing a sound AML program to mitigate a bank’s relevant AML/CTF risks.

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