Reports of suspicious transactions, including those with suspected links to money laundering or terrorist financing, rose 10.7% to 57,130 last year. Police’s new financial intelligence and investigation bureau hopes technology such as big data analytics system will help with suspicious-transaction reports and save manpower and time. — SCMP
Hong Kong police plan to upgrade the computer system for their new anti-money-laundering squad to speed up the screening of a huge number of suspicious financial activities, which surged 10% last year to more than 57,000 reports.
Chief Superintendent Lam Man-han, head of the new financial intelligence and investigation bureau, said officers currently had to analyse each suspicious transaction report manually.
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