Regulatory Alerts2019-12-23
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HKMA AML/CFT RegTech Forum Record of Discussion December 2019
The Hong Kong Monetary Authority issued this record to document proceedings from its November 2019 AML/CFT RegTech Forum, which convened public and private sector stakeholders to discuss technology adoption in financial crime prevention. The document highlights survey findings that 34% of regulated institutions currently use RegTech, while identifying key barriers such as budget constraints, talent shortages, and data quality issues. It outlines strategic priorities for modernizing supervision and promoting responsible innovation, emphasizing the need for collaborative, intelligence-led approaches and incremental implementation steps to enhance the effectiveness of Hong Kong's AML/CFT regime.
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