The Commercial Crime Bureau (CCB) held a strategic meeting of the Fraud and Money Laundering Intelligence Taskforce (FMLIT) with the Hong Kong Monetary Authority and members from the banking industry on October 9, with a view to maintaining close cooperation and enhancing intelligence exchange amid the COVID-19 outbreak.
During the meeting, CCB shared with members the results of a survey conducted by the Future of Financial Intelligence Sharing programme under the renowned think tank Royal United Services Institute. The survey highlighted the outstanding performance of FMLIT between its establishment in 2017 and May 2020 in comparison with 22 other public-private partnerships across the globe. FMLIT came top in three performance indicators during the reviewing period, such as withholding over HK$640 million of crime proceeds and assisting frontline units in intelligence-led operations which led to the apprehension of over 250 culprits. In addition, through intelligence exchange with the financial sector, FMLIT successfully revealed over 8 100 suspicious accounts and 370 suspects believed to be linked with fraud and money laundering activities.
CCB also had an in-depth discussion with members on the collaboration between CCB and the banking industry in combating telephone deception. The meeting strengthened the liaison among members and achieved positive outcomes.