Regulatory Alerts2025-04-10
Added · Updated
Strengthening the response to fraud and money laundering
The Hong Kong Monetary Authority issued this circular to outline new measures for strengthening the detection and prevention of financial crime, including legislative amendments enabling voluntary bank-to-bank information sharing. Banks are required to prepare for participation in expanded Scameter data usage and incorporate identified good practices into their anti-money laundering systems to proactively protect customers from authorized payment scams. The regulator will monitor implementation effectiveness through ongoing supervision and thematic reviews while encouraging collaboration with law enforcement to enhance public education and disrupt mule account networks.