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  HKMA announces “ART” Framework to promote responsible A.I. adoption

  HKMA

  October 16, 2026

  The Hong Kong Monetary Authority (HKMA) announced today the “ART” Framework to support the responsible adoption of artificial intelligence (A.I.) in the banking sector, fostering an A.I.-enabled banking ecosystem with Accountability, Resilience, and Trust. A.I. systems are becoming more autonomous, with greater access to data, tools and workflows.  With the aim of supporting banks in seizing the opportunities presented by A.I. while maintaining robust governance and operational resilience, key initiatives under the “ART” Framework include:

  • Issued the latest Supervisory Guidance for Responsible Adoption of Artificial Intelligence, drawing on insights from the second cohort of the Generative A.I. (GenA.I.) Sandbox¹;
  • An A.I. training data sharing platform in collaboration with Hong Kong Cyberport Management Company Limited (Cyberport) and the University of Hong Kong, with data quality assurance as a core design principle; and
  • Further testing of agentic A.I. applications through the GenA.I. Sandbox++² and an upcoming discussion paper on a proposed supervisory framework for agentic A.I. governance, exploring intent-anchored accountability, a registry of material A.I. agents, and effective intervention mechanisms.

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  Global drug plot foiled in joint investigation between AFP and Chilean police

  Australia Federal Police

  October 16, 2026

    A joint investigation by the AFP and Chilean authorities has led to the arrest of four people for their alleged roles in a failed plot to import 23kg of cocaine into Australia. Inquiries by the Policia de Investigaciones de Chile (PDI) uncovered alleged plans by an organised crime network to import cocaine into Australia via a commercial aircraft. The PDI seized the cocaine, which has an estimated Australian street value of $17 million, and shared intelligence with AFP investigators.

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  New York State Department of Financial Services Secures $33 Million Penalty with Skandinaviska Enskilda Banken AB for Inadequate Anti-Money Laundering Controls and Transaction Monitoring Compliance Failures

  New York State Dept of Financial Services

  October 15, 2026

  October 15, 2026

  New York State Department of Financial Services (DFS) Acting Superintendent Kaitlin Asrow announced today that Skandinaviska Enskilda Banken AB and its New York Branch (together, SEB, or the Bank) have agreed to pay a $33 million penalty as part of a Consent Order to resolve the Department’s investigation into SEB’s compliance with New York Banking Law and anti-money laundering program failures.

  “Financial institutions must adhere to New York’s rigorous laws and regulations to safeguard the integrity of the financial system,” said Acting Superintendent Kaitlin Asrow. “The Department will hold entities accountable that fail to meet those standards.”