Regulatory Alerts2023-02-09
Added · Updated
Optimising Fraud and Financial Crime Detection and Reporting
The Hong Kong Monetary Authority issued this annex to summarize major updates to its 2018 Guidance Paper on Transaction Monitoring, Screening, and Suspicious Transaction Reporting. The revisions enhance system design, data validation, and alert triaging processes while clarifying screening protocols for non-Latin scripts and ongoing management oversight. Furthermore, the document codifies requirements for reporting underlying crime categories, specific transaction details, and network diagrams to improve intelligence analysis and law enforcement investigations.