HKMA takes further steps to accelerate the industry use of AI to enhance the effectiveness and efficiency of monitoring ML/TF risks

In the Experience Sharing Forum, banks and Cyberport Hong Kong firms showcased AI use cases which had been successful in optimising and strengthening the monitoring systems. In his opening remarks, Raymond Chan, Executive Director (Enforcement and Anti-Money Laundering) of the HKMA, outlined the HKMA’s commitment to making sure the approach, technology, tools and data were right to respond effectively to the rapidly evolving challenges of global financial crime…