The Hong Kong Securities and Futures Commission urges licensed institutions to detect and prevent potential layered trading activities used for Money Laundering.

According to Mars Finance news on November 17, as reported by Zhitong Finance, the Hong Kong Securities and Futures Commission (SFC) issued a circular today urging licensed corporations and virtual asset trading platforms to remain vigilant against suspicious fund transfers that show signs of layered trading activities, in order to prevent Money Laundering. The SFC pointed out in the circular that there is a continuing rise in the trend of criminals using licensed institutions to engage in layered trading activities, with some individuals attempting to disguise the sources and destinations of illegal funds to launder proceeds from fraud and deception cases. Common warning signs of layered trading activities involve a series of suspicious behaviors, including the frequent, rapid, and organized depositing of funds into customer accounts, followed by immediate withdrawals in the form of funds or virtual assets. At the same time, the SFC reiterated its strict standards expected of licensed institutions in detecting and preventing layered trading activities.