Chief Superintendent of Financial Intelligence and Investigation Bureau (FIIB) Cheng Lai-ki led officers to attend the plenary and working group meetings of the Financial Action Task Force (FATF) in Singapore between June 23 and 28, discussing and resolving international anti-money laundering (AML) and countering financing of the terrorism (CFT) standards. The meetings also discussed strengthening the standard of asset recovery and international co-operation frameworks, aiming to recover criminals’ proceeds of crime more effectively.

FIIB is currently co-leading with Mexico a team comprising 32 jurisdictions and international bodies to work on the project - Money Laundering National Risk Assessment Guidance Update. The team presented the first draft of the updated guidance and proposed the way forward. Moreover, FIIB also held bilateral meetings with the Singapore delegation and exchanged views with delegations from the Anti-money Laundering Bureau of the People’s Bank of China and the Financial Intelligence Office of Macao on the legal framework of AML and CFT, policies on recovery of crime proceeds, intelligence exchange and cross-border co-operation.

Chief Superintendent of FIIB Cheng Lai-ki (second right) attends the meetings of FATF in Singapore.