Response to the Public Consultation on the HKMA’s proposals for information sharing among Authorised Institutions to aid the prevention or detection of crime
The FinTech Association of Hong Kong (“FTAHK”) welcomes the continued endeavours of the Hong Kong Monetary Authority (“HKMA”) to enhance the measures in place to prevent and/or detect financial crime, and further strengthen Hong Kong’s position as an international finance centre of repute.
The FTAHK is a not-for-profit ecosystem builder that has over 1,100 members and is the largest independent FinTech association in Asia. Our wide-ranging membership comprises of global and domestic FinTechs, Financial Institutions, Technology Service Providers, Consultancies, and members of Academia. We are grateful to have the opportunity to respond to this public consultation, the scope of which is focused on the sharing of information relating to non-corporate accounts, with a view to combatting financial crime by targeting related money-laundering.
This response has been prepared in consultation with FTAHK members representing a broad range of experience and backgrounds. Overall, our response draws on the following two themes for the consideration of the HKMA.