Darius Baruar
April 11, 2025 08:27
Hong Kong Monetary Authorities, Police and Banks Associations introduce new measures to solve fraud and funding, including expanded data use and enhanced banking cooperation.
The Hong Kong Monetary Authority (HKMA) has announced comprehensive measures to strengthen regional defense against financial crimes, including losing fraud and money with Hong Kong Police Officer (HKPF) and Hong Kong Bank Association (HKAB). According to the Hong Kong monetary authorities, this initiative is only a remarkable increase in the case and the development of financial crimes.
Increasing threats of financial crimes
In 2024, Hong Kong recorded 44,480 tricks, up 11.7% year -on -year. The number of arrests related to deception and money laundering crimes increased, and about 10,496 individuals were detained, including 7,700 people for money laundering. This reflects 13.6% increase from 2023.
New measures to solve crime
To solve these tasks, HKMA, HKPF and HKAB briefly explained some strategic measures.
- Expanding the use of cheat data: Banks should use network analysis and use cheat data to better identify suspicious accounts and warn them of vulnerable customers.
- Improve information sharing between banks: Legislative changes will promote information exchange between banks to detect and prevent forbidden activities such as laundering and terrorist funding. Upgraded platforms for information sharing are expected by the end of the year.
- Promotion of fraudulent practices: HKMA will improve defense by spreading effective fraudulent fraudulent and funding practices among banks.
- Review and communication by topic: Regular review and communication platforms will be established to support banks that can implement strong ideological measures.
- Public Education Initiative: We will strengthen our efforts to educate the public about the risk of sales of bank accounts, including the formation of targets or prevention education tasks.
Legal and sentence development
HKPF showed a significant increase in prosecution related to money laundering, which was 2.3 times increased between 2023 and 2024, and the court imposed a severe sentence of a mulisan account holder and imposed a sentence that increased from 13% to 33% between 21 and 75 months.
HKMA and HKPF are working with banks and other stakeholders to improve the detection and prevention of financial crimes, and continue to work to maintain a safe and elastic state of Hong Kong’s financial systems.
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