By Alisha Houlihan for AMLi
In an announcement today (June 20), the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks (HKAB) and the Hong Kong Police Force (HKPF) announced their launch of the Financial Intelligence Evaluation Sharing Tool (FINEST).
As a result of this initiative, banks will be able to share information more effectively to detect fraud and mule account networks, which will improve bank security and enhance the integrity of the financial system.
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