With a view to strengthening Hong Kong’s anti-money laundering and counter-financing of terrorism (AML/CFT) capabilities, the Financial Investigation Division of Narcotics Bureau (FI NB) was detached from the Narcotics Bureau (NB) and has operated as the Financial Intelligence and Investigation Bureau (FIIB) under Crime Wing with effect from June 1.
Commissioner Tang Ping-keung officiated at the opening ceremony of FIIB at the Police Headquarters on June 17. In his speech, the Commissioner stated that amidst the increase in quantity, diversity and complexity of financial crimes, which are often cross-border in nature, the formation of the FIIB would allow the Force to discharge its AML/CFT function in a more focused and professional manner. Such a move is important to safeguard the reputation of Hong Kong as an international financial centre by ensuring a clean and safe business environment.
FIIB is commanded by a Chief Superintendent and assisted by a Senior Superintendent. Each of its three divisions is headed by a Superintendent, namely the Financial Investigation Division which is responsible for money laundering and terrorist financing investigations; the Joint Financial Intelligence Unit which processes and analyses suspicious transaction reports, exchanges financial intelligence with other local and foreign law enforcement agencies (LEAs) and maintains close liaison with banks and other stakeholders; and Headquarters which looks after AML/CFT policy and legislation matters, strategic analysis and ongoing territory-wide risk assessment, training and outreaching.
FIIB will strive to strengthen the Force’s capacity in various aspects, including money laundering and terrorist financing risk identification, gathering intelligence and conducting financial investigations, targeting in particular crimes involving professional syndicates operating across borders, and harnessing advanced technologies such as big data analysis and artificial intelligence to enhance the quality of its intelligence output. It will also enhance its training capacity for local LEAs and step up AML/CFT capacity-building efforts for the private sector.
Please visit the following link to watch the video of the opening ceremony：（https://fb.watch/6op8AUPL0y/）.