
HKMA calls for innovation in fight against money laundering

The Hong Kong Monetary Authority (HKMA) is encouraging banks and financial services firms to use innovative technology for anti-money laundering and to counter the financing of terrorism (AML/CFT), while urging greater collaboration to drive change in the industry.
Hong Kong’s de facto central bank warns of “new and emerging risks” in the city’s AML/CFT regime, as potential perpetrators could exploit new technology to cause harm to consumers and the integrity of the financial system.
“The
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