GIF visited the China Anti-Money Laundering Monitoring and Analysis Center
With the easing of the epidemic and relaxation of border control measures, economic activities and movement of people between Mainland and Macao were gradually resumed. In order to enhance the cooperation mechanism and the effectiveness of prevention and control of cross-border money laundering risks, regular meetings and visits were held by the Financial Intelligence Office (GIF) with counterparts in Mainland. The director of GIF, Chu Un I, and other representatives went to Beijing from 22 to 24 March 2023, to meet with the Anti-Money Laundering Bureau (AMLB) of the People's Bank of China, the China Anti-Money Laundering Monitoring and Analysis Center (CAMLMAC) and the National Internet Finance Association of China (NIFA).
The representatives of GIF first met with AMLB and CAMLMAC, to share experiences in the preparation of mutual evaluation of anti-money laundering and counter terrorism financing (AML/CFT), to discuss the typologies and latest trends of cross-border suspicious transactions and to explore ways to enhance cooperation mechanism between authorities.
The representatives of GIF then met with NIFA, to discuss the potential risks and threats of money laundering and terrorism financing brought by virtual assets and virtual assets service providers, as well as, the methodology and financial technology in place in identifying virtual asset-related transactions.
As the commercial and economic activities between Mainland and Macao are progressively increasing, strengthening the AML/CFT cooperation across border remains crucial. In the future, GIF will continue to maintain close communications with the AML authorities of Mainland and to share the latest information on AML/CFT, so as to effectively mitigate money laundering and terrorism financing risks caused by cross-border illicit fund flows.
The representatives attending this meeting included Deputy Director of AMLB, Mr. Bao Mingyou and Director of International Division of AMLB, Mr. Cao Zuoyi, Director-General of CAMLMAC, Mr. Gou Wenjin, and Director of Program Development Division of CAMLMAC, Mr. Kong Fanying, Deputy Secretary-General of NIFA, Mr. Zhu Yong, as well as, Director and Deputy Director of GIF, Ms. Chu Un I and Ms. Fong Iun Kei and other representatives.
