Anti-Money Laundering and Counter-Terrorist Financing

The Insurance Authority ("IA") is the relevant authority in relation to insurance institutions ("IIs"), which include authorized insurers and reinsurers carrying on long term business, and licensed individual insurance agents, licensed insurance agencies and licensed insurance broker companies carrying on regulated activities in respect of long term business, under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) ("AMLO"). The IA is empowered to investigate the suspected offences or non-compliance under sections 11 and 12 of the AMLO.

If the IA has reasonable cause to believe that an offence under the AMLO may have been committed or has reason to inquire whether the IIs have contravened a specified provision as defined by section 5(11) of the AMLO, the IA may initiate an investigation under section 11 of the AMLO.

The appointed investigators may require a person to produce a record or document, give an explanation in respect of the record or document, answer a question relating to the investigation, and give other assistance.

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