The Hong Kong Monetary Authority (HKMA) has published a report titled “AML/CFT Regtech: Case Studies and Insights Volume 2.” It showcases how banks in Hong Kong have adopted Regtech solutions to enhance their Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) efforts. The report covers four key areas of Regtech implementation: real-time fraud monitoring, machine learning for transaction monitoring alerts, natural language processing for media monitoring, and analytics with a “single view of the customer”. The HKMA is committed to promoting AML Regtech adoption to strengthen banks’ role in safeguarding the financial system’s integrity.
Report:
Resource:
https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/09/20230925-3/