Hong Kong banks to disclose related property of clients who breach security law

Banks in Hong Kong are advised to disclose related property of clients who are found in breach of the city's national security law, according to the latest guidelines from its banking association.

The advice was introduced in an Oct 22 update of the Hong Kong Association of Banks' (HKAB) frequently asked questions in relation to anti-money laundering and counter-financing terrorism, which was published on the website of the Hong Kong Monetary Authority (HKMA).

Banks should disclose property held by any client who is arrested or charged for an offence endangering national security or when they have knowledge or...