To promote collaboration among public and private stakeholders in enhancing anti-money laundering (AML) efforts, the Financial Intelligence and Investigation Bureau (FIIB) explored AML strategies by means of panel discussion for the first time. It hosted the Financial Institutions AML Forum 2024 on August 2, gathering over 200 representatives from law enforcement agencies, financial regulators and participants from more than 40 financial institutions.

Commissioner Siu Chak-yee officiated at the event. In his speech, the Commissioner pointed out the shifting dynamics of money laundering, emphasising the importance of public-private partnership and encouraging participants to adopt strategic, innovative and proactive measures to improve the effectiveness of AML efforts. Other officiating guests included Director of Crime and Security Yip Wan-lung, Assistant Commissioner (Crime) Chung Wing-man, Chief Superintendent (CSP) of FIIB Cheng Lai-ki, Executive Director (Enforcement/AML) of Hong Kong Monetary Authority (HKMA) Mr Chan King-wang and Chairperson of the Anti-Money Laundering Committee of the Hong Kong Association of Banks Ms Carol Li.

The forum aimed to enhance collaboration of key stakeholders, including law enforcement agencies, financial regulators and financial institutions, for senior management and frontline AML professionals from banks, stored value facilities companies and other stakeholders to share insights on addressing the emerging challenges in the ever-evolving landscape of money laundering. In the two panel discussions moderated by the Director, Head of Policy Research for the Financial Services Development Council Dr Rocky Tung and Cheng Lai-ki respectively, the topics focused on domains involving international AML standards, regulatory response and intelligence exchange, highlighting the importance of public-private partnership, innovation and continued learning in the fight against financial crimes.

The Force also commended the contributions and efforts of the banking industry in AML, and announced that a range of activities would be held in August during the AML Month to raise public awareness on AML.

It is the first time for FIIB to explore AML strategies for enhancing public-private partnership by means of panel discussion.

The Commissioner emphasises the critical role of public-private partnership in AML.

CSP of FIIB Cheng Lai-ki (first right) moderates the panel discussion on the use of technology in AML.

The Executive Director (Enforcement/AML) of HKMA Mr Chan King-wang (centre) explores AML strategies in the panel discussion.

Artistes Mr Raymond Cho (left) and Mr Albert Au, being guests of the event, introduce the newly published AML comic book The Dirty Money Trap.

The forum is attended by some 200 representatives from law enforcement agencies, financial regulators and over 40 financial institutions.