In order to deepen the cooperation between Guangdong and Macao on financial development of the Greater Bay Area, and to strengthen the prevention of money laundering risk arising from cross-border capital flow, the Monetary Authority of Macao (AMCM) and the Financial Intelligence Office (GIF) meet with the People’s Bank of China (PBOC) regularly. Due to the COVID-19 pandemic, an Experience Sharing Meeting was held online on 5th November 2020. The Director of GIF Ms. Connie Chu, Functional Chiefs Ms. Cindy Chan and Ms. Ivy Vong, together with Deputy Director of the Baking Supervision Department of AMCM Ms. Doreen Pun, Deputy Director of the Internal Audit Department Mr. Daniel Tang and delegates from GIF and AMCM, had an online meeting with representatives from PBOC, including Deputy Division Chief Wu Yun of Anti-Money Laundering Bureau of PBOC, Deputy Director Zhuang Wei and AML Division Director Chen Xiaohong of Financial Services Department II of PBOC Shanghai Head Office.

The meeting mainly focused on the sharing of experience on AML/CFT issues, including sharing of Macao SAR’s preparation experience for the Asia/Pacific Group’s Mutual Evaluation, as well as discussion on how to align regulations to be compliant with the latest recommendations of the Financial Action Task Force. GIF will continue to collaborate closely with PBOC, in order to maintain a healthy development of the financial system and financial security.