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The Financial Intelligence and Investigation Bureau hosted the first cross-sector anti-money laundering collaboration forum on February 27. The event brought together representatives from the Hong Kong Monetary Authority, the Securities and Futures Commission, the Commercial Crime Bureau, and the Cyber Security and Technology Crime Bureau, as well as stakeholders from banks, securities firms, licensed virtual asset service providers, and other relevant institutions. The forum discussed the evolving methods of money laundering, emphasising that in addition to using stooge bank accounts to launder money, criminals are increasingly utilising accounts with licensed securities firms and virtual asset trading platforms to disperse funds or quickly convert funds into virtual assets. These techniques have become more sophisticated, posing challenges to existing money laundering prevention and detection measures.
The forum focused on identifying emerging money laundering trends, sharing best industry practices, and exploring collaboration opportunities. Participants agreed that, given the rapid and complex movement of funds across different financial institutions, it is essential to strengthen cross-sector collaboration, enhance information sharing, and improve coordination mechanisms.
All parties hoped to achieve a more resilient and stable financial system through ongoing dialogue and the development of robust collaborative frameworks.
