Hong Kong adopts a risk-based approach in the supervision of financial institutions and designated non-financial business and professions. As per the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, financial institutions and designated non-financial business and professions (i.e. legal professionals, accounting professionals, estate agents and trust or company service providers, a.k.a. TCSPs) must comply customer due diligence (CDD) requirements and are subject to the supervision from the associated authorities. For TCSPs, the scope of regulations covers not only the business activities of their professional works but also the associated financial activities such as debt collections. The consultant of iQor Receivable Management Services (HK) Ltd (RMS) Mr. Norris Chan and the CEO of the FaBuTX Limited Alexander Lo were cordially invited by Hong Kong General Chamber of Commerce (HKGCC) to hold a seminar on March 8 to analyze TCSP expectations and share the valuable experiences regarding the formulation of strategies to reduce the risk of bad debts. Seats are limited on a first-come, first-served basis. Register Now!
Conducting Your Business In Compliance with the TCSP Expectations and Reducing Potential Bad Debt
Hong Kong's Anti-Money Laundering (AML) laws have extended the customer due diligence (CDD) recordkeeping requirements to three types of professions in specific kinds of roles, including solicitors and accountants, real estate agents, and trust or company services providers. Such development does not only raise the awareness of these professions on the issue of how to comply, but also entice notices on financial related business activities such as debt recovery. Does your organization have the right strategies and policies to ensure full compliance of AML so as to avoid prospective violations? In this seminar, our speakers will share:
What is expected by the law - the 7 action checks (Policies, Staff Training, Risk Assessment, CDD Measures, Record Keeping, Ongoing Monitoring, and Suspicious Transactions Reporting)?
• What is Money Laundering?
• How is CDD vs Know Your Customer ("KYC")?
• How to execute CDD?
• Do we need to pay attention to Sanctions?
• Are we doing good enough to comply?
• Case study - Debt recovery situation representing a fraudulent transaction
Alexander Lo, CEO, FaBuTX Ltd
Alexander has over 30 years of experience in business information management, compliance, credit management and information technology. He has held leadership positions in the world's leading business information providers, including Managing Director of Thomson Reuters Asia, and General Manager of Dun & Bradstreet (D&B), Hong Kong and Taiwan. Alexander is a frequent speaker in media, academic institutions, and industry seminars & conferences across Greater China, focusing on compliance & credit management.
Norris Chan, Consultant, Receivable Management Services (HK) Ltd
Norris Chan has over 30 years of hands-on experience in the debt collection industry. As a veteran debt receivable practitioner, Norris and his team manage a portfolio exceeding billions of US dollars. He is a popular speaker and has conducted over 800 seminars in Greater China.
Date and Time
08 March 2019 (15:00 to 17:30)
Ms. Lau 22018296 / email@example.com
Booking through RMS only HK$380 per person
HKGCC Chamber Theatre
22/F United Centre
Download Booking Form
Photo by Jeffrey Swanson on Unsplash
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