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Press Release
AFS-IT attended the APG 2021 Virtual Annual Meeting in July 2021At the invitation of the Asia/Pacific Group on Money Laundering (APG), the Alliance for Financial Stability with Information Technology (AFS-IT) attended the APG Virtual Annual Meeting hosted by Bank Negara Malaysia in July 2021.
The AFS-IT presented in the plenary session of the APG Virtual Annual Meeting and reviewed the Virtual Workshop which the AFS-IT was honored to jointly deliver with the APG in February 2021 on the application of Digital ID and KYC in the context of the FATF Guidance on Digital ID.
The initial plan was to conduct the Workshop in in March 2020. However, due to the impact of the COVID-19 pandemic, the Workshop was held virtually from 2-5 February 2021 as the Digital KYC stream part of the APG Typologies Workshop. In the Virtual Workshop, representatives of the Members and Observers of APG, as well as those from the private sector, participated and shared their experience on line through presentations by experts, jurisdictions, international organizations and the private sector, as well as discussions and exchange of views focusing on Digital ID and eKYC/CDD and compliance with FATF requirements.
While delivering the Virtual Workshop is regarded as Phase One of the collaboration project with APG, there will be Phase Two which will involve the assessment and analysis of the priorities, interests and concerns of the APG Members and Observers, as well as the private sector, in adopting Digital ID/ KYC. Resulting further activities will also be recommended.
Established as a NGO in March 2018, one of the main focuses of the AFS-IT is on the latest trend of FinTech and RegTech, especially in the development of Digital ID/ KYC and digital authentication.
The AFS-IT is looking forward to work with the APG on the nexus between technology and AML/CFT, with focus on Digital ID/KYC and digital authentication, which play an essential role in mitigating risks, including those of money laundering and the financing of terrorism, as well as addressing challenges in the fast developing digital economy and financial sector.
AFS-IT
3 August 2021
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Joint Alliance for Financial Stability with Information Technology (AFS-IT) and
Asia/Pacific Group on Money Laundering (APG) Virtual Workshop on Digital ID and e-KYC,
3-4 February 2021The AFS-IT with the APG delivered a successful virtual workshop on Digital ID and e-KYC over two days on 3-4 February 2021. The objectives of the workshop were to:
? discuss the application of the FATF Guidance on Digital ID; and
? provide a platform for the sharing of information and implementation experiences to support innovation in digital KYC while addressing the regulatory and supervisory challenges posed by digital ID and KYC.
The workshop was part of the broader APG Typologies Workshop from 2 to 5 February 2021.
There were over 300 participants from APG member jurisdictions and the private sector on each day of the Digital ID/e-KYC workshop. Presenters included:
? Maiava Atalina Ainuu-Enari, Samoa, APG Operations Committee Co-Chair
? Dr Gordon Hook, Executive Secretary, APG secretariat
? Anselmo Teng, Co-chair, and Dr. Chiang, AFS-IT
? Professor Louis de Koker, Deakin University and Consultative Group to Assist the Poor (CGAP) Consultant
? Robin Newnham, Alliance for Financial Inclusion
? Lotte Schou Zibell, Asian Development Bank
? Darren Howells, Reserve Bank of New Zealand
? Ken Chua and Sharon Ho, Monetary Authority Singapore
? Lubna Farooq Malik, Financial Management Unit, Pakistan
? Felix Feng Qi, China Construction Bank, Malaysia
? Suhanna Omar, Bank Negara Malaysia
? Md Masud Rana, Bangladesh FIU
? Alvin L. Bermido, Anti-Money Laundering Council (AMLC) Secretariat, Philippines
? Fredes Montes, World Bank
Presenters shared their expertise and experiences on digital ID and e-KYC including in the context of COVID-19; benefits and costs; implementation lessons and challenges; different forms of Digital ID and e-KYC, including biometrics; and related issues such as privacy and data protection.
This initiative was endorsed by the APG membership in August 2019 to support the implementation of Digital KYC, including outreach and capacity building on applying the FATF Guidance on Digital ID. The original plan was to hold the workshop in Seoul in March 2020, but unfortunately was cancelled by travel restrictions imposed in response to the COVID-19 pandemic.
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The Representative of the Alliance for Financial Stability with Information Technology (AFS-IT), Anselmo Teng , delivered a speech at the UNSDG Health Summit on 25 May 2019
AFS-IT Co-chair, Anselmo Teng, made a presentation at the UNSDG Health Partnership Summit to explain how the consumer health insurance sector can benefit from improved security and protection, as well as huge improvement through the application of Digital-ID/Digital-KYC Technology. The Ministers of Health of Countries attending the Summit highly valued the Presentation. Mr. Teng also had the honour of meeting the Director-General of the World Health Organisation (WHO), Dr. Tedros Adhanom Ghebreyesus, during the period.
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Ms. Clarie Lo shared the latest on Digital-KYC technologies and Solution at the FATF Private Sector Consultative Forum (PSCF) 2019, VIENNA
The presentation by Ms.Clarie Lo on behalf of the AFS-IT has drawn attention from the participants.? Mr.Marshall Billingslea, the President of FATF, sent a Letter of Compliment to the AFS-IT for having shared the latest Digital-KYC technologies and solutions at the FATF PSCF held in Vienna on 6-7 May 2019.
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Jinghua Hao, the Chairman of The Eurasia Group on Combating Money Laundering and Financing of Terrorism(EAG) met Anselmo Teng, co-chair?of AFS-IT, 1 March 2019.
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AFS-IT participated in the EAST TECH WEST Forum organised by CNBC ,27-29 November 2018
Interview Session
Discussing opportunities and challenges in the regulation of financial innovation
The regulators worldwide realize there is a challenge in catching up and their approach has become more open, says Anselmo Teng, chairman of AFS-it.
Discussing opportunities and challenges in the regulation of financial innovation from CNBC.
Live Interview
The digital economy poses a challenge to financial stability: AFS-IT
Anselmo Teng of AFS-IT says regulators have to work with industry partners to address the "huge" challenge of financial stability around emerging technologies.
The digital economy poses a challenge to financial stability: AFS-IT from CNBC.
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AFS-IT Joined FATF/EAG FinTech and RegTech Forum, 4-5 September 2018
On 4-5 September 2018, FATF and EAG held the Fintech and ReTech Forum in Hangzhou, China. The representatives of AFS-IT attended the Forum and made a presentation. The history and objectives of the AFS-IT, as well as the Guiding Principles of Digital KYC were introduced. The AFS-IT has established relationship with FATF and initial contact with the representative of the IMF. It is believed that cooperation will be initiated.
At the forum, representatives of all parties fully affirmed the development and application of digital ID and digital KYC, and had made suggestions on application of RegTech.
Agenda of forum
Pictures from forum scene
Keynote speech
Core contents
Mr. Xiangmin Liu, The Vice-President of the FATF, The Director-General of the Legal Department of The People’s Bank of China.
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AFS-IT Visit to PBOC: Reception by PBOC Governor Yi Gang , 28 May 2018
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MOU Signing Ceremony between AFS-IT and Philippines Government 9 May 2018
Left:Anthony Neoh SC, Honorary Chairman, AFS-IT, former Chairman of Securities and Futures Commission, HKSAR and Chief Advisor to the China Securities Regulatory Commission
Middle: Ms. Maria Almasara Cyd Tuano-Amador, Deputy Governor Bangko Sentral Ng Pilipinas
Right: Mr. Claro Arellano, Under Secretary, Department of Labour and Employment, Philippines
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Forum Group Photo, 9 May 2018
Front (From left to Right)1 st Left: Ms. Clarie Lo, Co-Chair, AFS-IT, 13th President of FATF and former Deputy Secretary for Financial Services and the Treasury, HKSAR
2 nd Left: Dr. Fan Wen Zhong, Director-General, International Affair, CBIRC
Middle: Ambassador Mr. William J Lima, Special Envoy to China, Office of the President, Philippines
2 nd Right: Dr Maria Almasara Cyd Tuano-Amador, Deputy Governor, BSP
1 st Right: The Hon Ms. Elsie Leung, Deputy Director of the HK Basic Law Committee of the Standing Committee of the NPC, Former Secretary of Justice HKSAR
Rear (From Left to Right)
1 st Left: Mr Tran Thanh Huan, Consul General Vietnam in HK
2 nd Left: Mr Zaki Mohidin, Head of Fintech, Brunei Monetary Authority
3 rd Left: Mr Stephen Kai-yi Wong, Privacy Commissioner for Personal Data, HKSAR
4 th Left: Ms Phothichanh Thammatheva, Deputy Director-General of Banking Supervision, Bank of Laos
5 th Left: Ms HE Serey Chea, Assistant Governor, National Bank of Cambodia
6 th Left: The Hon Mrs. Fanny Law, Member of the Exec Council HKSAR & Chairperson of Science & Technology Parks, HKSAR
6 th Right: Anthony Neoh SC, Honorary Chairman, AFS-IT, former Chairman of Securities and Futures Commission, HKSAR and Chief Advisor to the China Securities Regulatory Commission
5 th Right: Mr Claro Arellano, under Secretary, Dept of Labour and Employment, Philippines
4 th Right: Mr. Anselmo Teng, Co-Chair, AFS-IT, Former Chairman of Monetary Authority of Macau
3 rd Right: Ms Siritida Panomwon Na Ayudhya, Assitant Governor of Payment Systems Policy & Fintech, Bank of Thailand
2 nd Right: Mr Zaw Naing, Director General of Financial Regulatory Department, Ministry of Planning and Finance, Myanmar
1 st Right: Mr. Yosamartha, Assistant Director, Bank of Indonesia
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HKSAR Senior Government Officials Attended Welcome Cocktail, 8 May 2018
1 st Left: Mr. Anselmo Teng, Co-Chair, AFS-IT
2 nd Left: Ms. Clarie Lo, Co-Chair, AFS-IT, 13th President of FATF and former Deputy Secretary for Financial Services and the Treasury, HKSAR
3 rd Left: Mr. Carlson Tong, Chairman of Securities and Futures Commission, HKSAR
Middle: The Hon Paul Chan, Financial Secretary, HKSAR
3 rd Right: Ambassador Mr. William J Lima, Special Envoy to China, Office of the President, Philippines
2 nd Right: The Hon James Lau, Secretary of Financial Services and the Treasury, HKSAR
1 st Right: Mr. Daniel Fung, former Solicitor General of Hong Kong, national member of the Chinese People’s Political Consultative Conference
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Greeting The Hon Paul Chan, Financial Secretary, 8 May 2018
Left: The Hon Paul Chan, Financial Secretary of HKSAR
Right: Mr. Anselmo Teng, Co-Chair, AFS-IT
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Welcome Dinner. 8 May 2018
Left: Mr. Anselmo Teng, Co-Chair, AFS-IT
Middle: Ms. Candida Fong – MC of Forum
Right: Mr. Samuel Tsien, CEO OCBC
Left: Ms. Myat Thuzar Than, Consul General Myanmar in Hong Kong
Middle:Mr. Tan Yong Wah, CIO of HKMA
Right: Mr. Zaw Naing, Director General of Financial Regulatory Department, Ministry of Planning and Finance, Myanmar
Left: Tan Yong Wah, CIO of HKMA
Middle: Mr. Samuel Tsien, CEO OCBC
Right: Mr. Wilson Vong, Executive Director, Monetary Authority of Macau
From Left to Right2 nd Left: Ms. Clarie Lo, Co-Chair, AFS-IT, 13th President of FATF and former Deputy Secretary for Financial Services and the Treasury, HKSAR
1 st Left: Dr. Fan Wen Zhong Director-General, International Affair, CBIRC
Middle: The Hon Paul Chan, Financial Secretary, HKSAR
2 nd Right: Mr. Anselmo Teng, Co-Chair, AFS-IT, Former Chairman of Monetary Authority of Macau
1 st Right: The Hon James Lau, Secretary of Financial Services and the Treasury, HKSAR