“The 9th Joint Meeting on Prevention and Suppression of Financial Crimes”
Since cybercrimes become one of the major criminal activities nowadays, rapid illicit fund flows and concealment of criminal identities thus pose challenges for analyses and investigations. The Financial Intelligence Office (GIF) remains committed to cooperate and communicate with financial sector to enhance the effectiveness on the prevention and suppression of money laundering and terrorist financing. As such, GIF held “The 9th Joint Meeting on Prevention and Suppression of Financial Crimes” on 7th September 2022 via online platform, with a total of around 170 participants. Participants included the compliance officers and employees from compliance department.
During the meeting, representatives from GIF discussed the AML/CFT statistical data in Macao, the latest suspicious transaction trends and case sharing. A newly established electronic communication platform was also introduced in order to enhance the communication mechanism between GIF and the financial sector. The topics covered not only allow participants to have a better understanding on the current AML/CFT works, but also to build up a more comprehensive AML/CFT mechanism for Macao.
“The 9th Joint Meeting on Prevention and Suppression of Financial Crimes” had fruitful results, with both parties agreeing that public services and private sectors should strengthen cooperation to enhance AML/CFT preventive measures and to ensure that financial transactions are closely monitored by various departments and financial sector, with an aim to contribute for the prevention and suppression of financial crimes.
