Marco Zawar

June 27, 2022|1 Minute

Are AML and CFT Based Practices for Validation of Tax Residency Inadequate for AEoI CRS Purposes?

In CRS

Marco Zawar shares his views on why Anti Money Laundering and Counter Financing of Terrorsism related due diligence measures in Hong Kong are insufficient to meet financial institutions’ AML/KYC requirements under AEoI/CRS.

He assesses the risks of neglecting the implementation of AEoI/CRS compliance frameworks on FIs and comments on initiatives in the region to agree standards on transparency and exchange of information to tackle tax evasion and other illicit financial flows in Asia.

 

Are-AML-and-CFT-Based-Practices-for-Validation-of-Tax-Residency-Inadequate-for-AEoI-CRS-Purposes-Marco-Zawar
By Marco Zawar
Marco Zawar

Marco is an affiliate of TConsult. He is a highly experienced and qualified banker and international tax lawyer with 30+ years’ experience in the tax planning, tax compliance, and tax operations environment of leading private banking and wealth management organisations and financial solutions providers in Europe and the APAC Region.

Marco is experienced in liaising with tax regulators and external auditors. He has also worked as a RegTech product manager focused on delivering solutions that strengthen financial institutions’ regulatory compliance frameworks to combat financial crime through the misuse of offshore accounts and mitigate potential legal and reputational impacts.