Speakers from Bank of China (Hong Kong), Mox Bank, Ernst & Young Advisory Services Limited, RegTech Association of Hong Kong

Transaction Monitoring with Artificial Intelligence (“AI”)

Date : 5th November 2021 (Friday)

Time : 4 pm to 5 pm

Language : English

Hong Kong Monetary Authority (“HKMA”) strives to uphold Hong Kong as a global financial hub. The requirements for the transactions transparency of authorized institutions have also become more demanding, huge, and complicated. Authorized institutions have invested tremendous resources and time to monitor and enhance relevant internal regulations and procedures, apart from the increasing scrutiny on controls, inquired by regulators around the globe.

The rapidly changing environment, business models, and regulatory requirements are driving financial institutions to adopt and embrace technology innovations to remain competitive.  HKMA has recently engaged different stakeholders to assist in organizing and rolling out a series of activities to further facilitate the adoption of Regtech.  From the recent publications of the HKMA, the revised Guidance Paper on Transaction Screening, Transaction Monitoring and Suspicious Transaction Reporting in May 2018 and AML/CFT Regtech: Case Studies and Insights in Jan 2021 indicate that transaction monitoring is always one of the major highlights in the RegTech agenda.

This webinar will discuss how AI could assist on transaction monitoring, and share the potential challenges during the implementation.