The HKAB welcomes the establishment of “Anti-Deception Alliance”
With joint efforts of the Hong Kong Monetary Authority (HKMA), the Hong Kong Police Force (HKPF), the Hong Kong Association of Banks (HKAB) and 10 participating banks1, the “Anti-Deception Alliance” (ADA) has officially established today.
The HKMA and the HKPF announced this April that a series of anti-deception measures will be taken to fight against deception. A total of 10 local retail banks have been invited to participate in the ADA, where bank staff will be dispatched to ADA to support the HKPF in immediate crime proceeds interception and anti-deception.
Sun Yu, Chairman of the HKAB, said, “The banking industry welcomes the establishment of the ADA. This collaborative effort aims at enhancing the HKPF and banks’ capabilities in the detection, prevention and disruption of financial crime. Through intelligence sharing, the HKPF and participating banks can speed up the fraudulent funds recovery process, and enhance the efficiency of intercepting fraudulent payment processing so as to reduce victims’ losses. The banking industry will continue to work closely with the HKMA and the HKPF to combat fraudulent activities with a view to supporting the steady development of Hong Kong as an international financial centre.”
The Hong Kong Police Force (HKPF) held the inauguration ceremony for the Anti-Deception Alliance today (November 24). Photo shows the Commissioner of Police, Mr Siu Chak-yee (seventh left); the Executive Director (Enforcement and AML) of the Hong Kong Monetary Authority, Ms Carmen Chu (sixth left); Acting Chairman of the Hong Kong Association of Banks, Mr Stephen Chan (sixth right); and other guests at the opening ceremony.
The Hong Kong Police Force (HKPF) held the inauguration ceremony for the Anti-Deception Alliance today (November 24). Photo shows the Commissioner of Police, Mr Siu Chak-yee (left); and the Executive Director (Enforcement and AML) of the Hong Kong Monetary Authority, Ms Carmen Chu (right) unveiled the plague at the ceremony.
1 Bank of China (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank (Hong Kong) Limited, Hang Seng Bank Limited, Industrial and Commercial Bank of China (Asia) Limited, Bank of Communications (Hong Kong) Limited, The Bank of East Asia Limited, DBS Bank (Hong Kong) Limited, Nanyang Commercial Bank Limited and OCBC Bank (Hong Kong) Limited.