As an international financial center, Hong Kong has been enhancing a robust anti-money laundering and counter-terrorist financing (“AML/CTF”) regime in accordance with the recommendations of the Financial Action Task Force (FATF) – an inter-governmental body that sets international standards for combating ML/TF and oversees global compliance.
On November 29, Mr Jaron LEUNG of the Joint Financial Intelligence Unit (JFIU) at the Financial Intelligence and Investigation Bureau (FIIB) delivered a seminar on anti-money laundering and highlighted several criminal offenses/anti-money laundering cases. He also discussed the work of FIIB, relevant laws related to money laundering, the development of the Financial Data Analytic Platform, and job prospects in anti-money laundering and regulatory technology. The event was attended by 70 students who gained a better understanding of the regulatory and law enforcement framework of AML/CTF that underpins the finance industry.
FIIB was established in June 2021 with a mission of strengthening Hong Kong’s anti-money laundering and counter-financing of terrorism capabilities. JFIU is one of the divisions that processes and analyzes suspicious transaction reports, exchanges financial intelligence with other local and foreign law enforcement agencies, and maintains close liaison with banks and other stakeholders.
