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The Financial Intelligence and Investigation Bureau (FIIB) hosted the first Joint Assessor Training for the Asia-Pacific Region for the fifth round of Mutual Evaluation (ME) at the Police College between March 4 and 8. The training was delivered by trainers from the Financial Action Task Force (FATF), the Asia/Pacific Group on Money Laundering (APG) and the International Monetary Fund (IMF) .
Deputy Secretary for Financial Services and the Treasury Ms Chan Wing-man officiated at the launching ceremony of the course that brought together 32 overseas representatives and 11 local participants from the Force, Financial Services and Treasury Bureau, Hong Kong Monetary Authority, Securities and Futures Commission and other relevant government departments.
The trainees had to work through the evaluation of a fictional country, which included reviewing its legislation and regulations in anti-money laundering (AML) and counter-financing of terrorism (CFT), conducting mock interviews, preparing an ME report and giving a presentation to the plenary, in order to attain qualification as assessors.
ME is a peer review process in which FATF/APG member jurisdictions form an evaluation team composed of legal, financial and law enforcement experts to assess regularly the AML/CFT measures of another member jurisdiction. The fifth round of ME is a six-year cycle. Hong Kong’s ME is scheduled to take place between 2029 and 2030.
