What is banking compliance and why is it important?

Banking compliance refers to the process and controls that banks put in place to ensure they adhere to applicable laws, regulations, and industry standards. It is crucial to manage legal risk, build trust with regulators, and maintain operational integrity.

Which regulations are applicable to banks in the UK?

In the UK, banks must comply with regulations such as the Financial Services and Markets Act, Prudential Regulation Authority (PRA) rules, Financial Conduct Authority (FCA) regulations, anti‐money laundering (AML) laws, and data protection requirements.

Do you assist with obtaining banking licences and regulatory authorisations?

Yes. ABM Global Compliance provides support throughout the process of obtaining banking licences and regulatory authorisations, including preparing documentation, liaising with regulators, and ensuring ongoing compliance.

What is involved in a banking compliance audit?

A banking compliance audit involves reviewing policies, systems, and practices to identify gaps in regulatory compliance; assessing risk exposure; and recommending corrective actions to ensure full compliance with applicable regulatory standards.

How can strategic compliance solutions help my bank?

Strategic compliance solutions help banks align their compliance frameworks with business goals, implement robust systems for risk mitigation, and stay ahead of regulatory changes to avoid fines and reputational damage.

How do you monitor changes in banking regulation?

ABM Global Compliance tracks regulatory updates from bodies such as the FCA, PRA, and other relevant international regulators and reviews internal policies accordingly; we also provide advisory services to adapt to new requirements quickly.

Is there ongoing support after compliance frameworks are set up?

Yes. We offer ongoing monitoring, periodic reviews, staff training, compliance reporting, and adjustments to your framework as regulations evolve.

How do I start working with ABM Global Compliance for banking services?

You can contact us via phone at +44 207 515 7080 or email info@abmglobalcompliance.com/hk. We begin with a discovery call to understand your needs, then propose a tailored compliance plan.

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Designing Comprehensive Compliance Frameworks for Banks

ABM Global Compliance provides end-to-end compliance frameworks tailored for Hong Kong’s banking sector. Our services align with the HKMA’s Supervisory Policy Manual, AML/CTF guidelines, and Basel III standards. We cover governance structures, operational and credit risk controls, conduct risk, outsourcing arrangements, and third-party vendor management. Our solutions integrate advanced monitoring and reporting systems to strengthen resilience and real-time compliance readiness.

AML/CTF Program Development & Reviews

We assist banks in building AML/CTF programs in line with Hong Kong’s AMLO, HKMA circulars, and FATF standards. This includes developing policies for customer due diligence (CDD), enhanced due diligence (EDD), sanctions and PEP screening, ongoing monitoring, and suspicious transaction reporting (STR). ABM also conducts independent program reviews, gap analyses, and remediation plans to ensure full regulatory compliance and readiness for HKMA assessments.

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Regulatory Licensing & Advisory for Banks

Our team advises on banking licence applications, including authorized institution (AI) and restricted licence bank (RLB) authorisations under the HKMA framework. We support both local and foreign bank branches/subsidiaries in meeting regulatory requirements, conducting readiness reviews, and submitting compliance documentation.

Outsourced Compliance Functions

To address resource gaps, ABM offers outsourced roles such as Chief Compliance Officer (CCO), Money Laundering Reporting Officer (MLRO), and Data Protection Officer (DPO). We manage ongoing AML monitoring, JFIU reporting, governance updates, and compliance advisory, providing banks with cost-effective solutions while maintaining the highest compliance standards.

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Training & Capacity Building

We deliver role-specific training programs for compliance teams, front-office staff, and senior management. Our sessions cover AML/CTF obligations, HKMA guidelines, Basel III risk management, data privacy, and conduct risk. Through interactive case studies, scenario-based learning, and executive briefings, we embed compliance awareness across institutions.

Internal Audit & Regulatory Readiness Reviews

ABM conducts detailed compliance audits, mock regulatory reviews, and testing of AML, KYC, and conduct risk frameworks. Our reports provide actionable recommendations to strengthen governance and operational controls, ensuring preparedness for HKMA inspections.

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Cross-Border & Global Banking Compliance

We assist banks with multi-jurisdictional compliance, covering FATCA, CRS, and alignment with regulators such as MAS (Singapore), FCA (UK), and the US SEC. This ensures consistency of group compliance frameworks across markets.

Ongoing Compliance Support

ABM provides quarterly health checks, regulatory updates, and dashboard reporting to keep banks aligned with HKMA and FATF expectations, ensuring continuous compliance in an evolving regulatory environment.