The Hong Kong Monetary Authority (HKMA) and the Hong Kong Police Force (HKPF) held a high-level session on anti-fraud efforts, attended by senior representatives from the HKMA, HKPF, and retail banks. The purpose was to explore new and innovative ways to prevent scams and intercept illicit proceeds. The HKMA has been working closely with the HKPF and the banking industry through public-private partnerships, such as the Fraud and Money Laundering Intelligence Taskforce, which has significantly increased the number of suspicious transaction reports filed and restrained or confiscated criminal proceeds. Attendees pledged to continue working closely with all stakeholders to promote public awareness of evolving deception cases and support innovative ways of anti-deception efforts. Also, the HKMA has initiated an AML Suptech pilot on mule account network analytics to manage the risks of mule account networks at the systemic level.