GIF visited the Joint Financial Intelligence Unit and Hong Kong Customs
In order to continuously improve the anti-money laundering (AML) legal framework and further comply with the latest international AML standards, as well as to better understand the overview of the financial development of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, the representatives of the Financial Intelligence Office of the Unitary Police Service (GIF) visited the relevant agencies in Hong Kong and Hengqin in mid-August 2024.
On 12 August 2024, 5 delegates from GIF visited the Joint Financial Intelligence Unit of the Financial Intelligence and Investigation Bureau of the Hong Kong Police Force. The two agencies jointly discussed on legal systems and case studies in the fight against money laundering and terrorist financing. Delegates of GIF also took the opportunity to meet with Hong Kong Customs, in which the declaration and disclosure system of currency and bearer negotiable instruments (“CBNIs”) and the enforcement achievements were shared.
On 16 August 2024, 6 delegates from GIF visited the Financial Development Bureau of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin to learn about the latest financial business development in Hengqin and the prevention of financial risks. The two agencies also explored the mutual AML cooperation mechanism, with the aim to enhance information sharing and establish closer cooperation.
GIF has maintained an effective cooperation and communication mechanism with Hong Kong’s AML counterparts for many years. This helps to reduce the risk of related crimes through the exchange of latest trends and information on preventing and combating money laundering and terrorist financing in both jurisdictions. In addition, with the implementation of the segregated management policy for goods and personnel of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, in order to further monitor irregular capital flows between Hengqin and Macao, GIF will continue to strengthen collaboration with competent agencies in Hengqin to carry out risk-based prevention and suppression work.
