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Revising NRA Guidance
The Financial Intelligence and Investigation Bureau (FIIB), together with Mexico, co-led the Financial Action Task Force (FATF) project titled “Revision of Money Laundering (ML) National Risk Assessment Guidance” (NRA Guidance) between October 2023 and November 2024. FIIB and Mexico led the unprecedentedly diverse group comprising 30 delegations and international organisations to conduct extensive consultation, analysis and consolidation of contributions from public and private sectors across more than 90 jurisdictions worldwide.
The updated NRA Guidance was adopted at the FATF Plenary in October 2024 and subsequently published in November 2024. While maintaining the core concept in its 2013 version, the updated guidance set out a more granular workflow at preparatory, assessment and post-assessment phases. It also provided practical examples and best practices gathered from the global network over the past decade. Elements aligned with the latest FATF standards, such as the assessment of virtual assets and emerging technologies, were also incorporated. The updated guidance received widespread acclaim from international delegations, equipping them with up-to-date, actionable tools for effective ML risk assessments.
MLEC’s first tour to Hangzhou
Chief Superintendent of FIIB Cheng Lai-ki led a group of 17 members from the Money Laundering Expert Cadre (MLEC) on their first mainland training visit. From January 6 to 9, 2025, they visited Hangzhou to engage in discussions and exchanges with experts from the Ant Group and Alibaba Group, representatives of Hangzhou People’s Procuratorate and legal scholars on strategies to combat cross-border ML in the digital age. The delegation examined how Mainland technology companies applied AI in big data analysis for financial crime risk management and ML detection. The delegation also discussed public-private partnership and explored solutions to cross-border investigative challenges with Mainland experts.
