HKIB ECF-AML/CFT Core study plan

Define money laundering and terrorist financing and distinguish the three classic stages (placement, layering, integration) with one self-written example of each

List the core elements of Hong Kong's anti-money-laundering and counter-terrorist-financing regime by name and issuing body, and state the legal status of each (statute, guideline, circular)

Explain the role and statutory functions of the Joint Financial Intelligence Unit and describe how a suspicious transaction report reaches it

Build a one-page terminology sheet covering predicate offence, beneficial owner, PEP, STR, and tipping-off, written in your own words

Summarise the risk-based approach and explain how it differs from a rule-based approach in day-to-day decision making

Describe the four tiers of customer due diligence (standard, simplified, enhanced, ongoing) and state when each applies

Identify acceptable forms of identification and verification for individuals and for legal persons, and list what counts as an unacceptable substitute

Explain beneficial ownership identification and the thresholds and control tests used to determine it

Define politically exposed persons, family members, and close associates, and describe the additional measures required before and during the relationship

Explain correspondent banking relationships and the specific due diligence and prohibition rules that apply to them

Describe enhanced due diligence triggers beyond PEP status, including high-risk jurisdictions, complex structures, and unusual delivery channels

Draft the questions you would ask to evidence source of wealth and source of funds for an enhanced due diligence file

Explain ongoing monitoring obligations, including trigger-based and periodic review cycles, and how they interact with the risk rating

Describe when a relationship must be terminated or an application refused, and the record-keeping duties that follow

List the record-keeping retention periods and the format requirements for CDD and transaction records

Recite the money-laundering and terrorist-financing offences, including the mental element required for each

Explain the STR reporting process end to end, from internal escalation to post-filing follow-up and consent seeking

Distinguish the tipping-off offence from the reporting obligation and identify borderline situations where disclosure is prohibited

Describe the internal reporting structure required, including the role of the money laundering reporting officer and independence of the compliance function

Apply the defence provisions for reporting to three short fact patterns and justify your conclusion

Describe the sanctions and terrorist-financing regime, including screening obligations, asset freezing, and reporting to the competent authority

Explain how targeted financial sanctions differ from comprehensive embargoes and what to do on a potential match

Describe the travel rule and wire transfer requirements for originator and beneficiary information

Identify the red flags of trade-based money laundering and explain how to escalate a mismatch in goods description or value

Describe the elements of an institutional AML/CFT programme: policies, risk assessment, training, independent testing, and governance oversight

Explain how an enterprise-wide risk assessment is built and how its output feeds customer and product risk ratings

Outline the training obligations for different staff tiers and the evidence an examiner would expect to see

Explain the role of the regulator and the consequences of non-compliance, including supervisory and criminal outcomes

Consolidate all eight weeks into a single condensed revision sheet of no more than four pages

Re-attempt every previously logged error and confirm each is resolved with a written correction

Complete two timed full-length mock papers under exam conditions and review every wrong answer

State your three weakest sub-topics and the specific action you will take before exam day