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Hong Kong bolsters financial crime prevention efforts

The Hong Kong Monetary Authority (HKMA) has launched a public consultation to enhance bank information sharing for crime prevention, responding to a rise in banking fraud complaints. Last year, in collaboration with the Hong Kong Police Force, the HKMA restricted criminal proceeds by over HKD1.1bn. HKMA Chief Executive Eddie Yue Wai-man emphasises the importance of this initiative for maintaining public trust in digital financial services. Simultaneously, the Securities and Futures Commission (SFC) announced its 2024-2026 Strategic Priorities, focusing on safeguarding Hong Kong’s markets from serious harm and enhancing global competitiveness. SFC Chief Executive Julia Leung Fung-yee stressed the necessity of adapting to the evolving nature of financial crimes to protect investors and ensure market integrity.


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