At the World Digital Economy Development Forum and Global Future Industries Cooperation Summit, hosted by the World Digital Economy Organization, HKAML and the organisation signed the Joint Initiative for Financial Integrity in the Digital World and launched the Alliance's operations centre. The Alliance's digital financial security work is moving from advocacy towards mechanisms, technology and implementation.
Online fraud, cross-border laundering and illicit virtual asset transfers increasingly span countries, platforms and technologies. Governance based on isolated oversight and limited coordination struggles to address digital identity, transaction transparency and cross-chain fund tracing. Financial integrity in the digital world therefore depends on foundational capabilities and infrastructure as well as a shared commitment to governance.
Photo: Professor Wen Wu
Professor Wen Wu, an HKAML special adviser, digital currency expert, Chief Scientist at Chain Technology and jointly appointed professor at Zhejiang University's International Business School and College of Computer Science, identified three priorities: an authoritative digital identity system with real-time verification; AI-based KYC/KYT for identifying accounts, transactions and risky behaviour; and secure, compliant transaction infrastructure connecting countries, accounts and digital wallets. He argued that coordinated identity, compliance and transaction capabilities are essential for sustainable digital financial governance.
With the operations centre established, the Alliance is developing representative offices in key regions. These will extend its coordination capacity across digital financial security, risk information sharing, compliance support and projects, with headquarters coordination, operations-centre support and regional implementation.
Photo: Appointment of Li Jing as First Vice Chairman of HKAML
The Alliance appointed World Digital Economy Organization Chairman Li Jing as its First Vice Chairman to strengthen international cooperation and resource coordination. While representative offices focus on domestic implementation, he will draw on the organisation's international network to advance the initiative's ideas, mechanisms and partnerships overseas, connecting HKAML with international organisations, overseas institutions and partners.
HKAML is moving towards leading implementation in two areas: globally coordinated risk information and data intelligence, and technical standards and trust certification. With institutions, technology teams and industry partners, it will develop practical, collaborative and replicable approaches covering risk-information networks, digital identity and meta-wallet architecture, intelligent risk models, compliance standards and trusted certification mechanisms.
Photo: HKAML representative offices across China
The Alliance said its operations centre and representative-office network provide an organisational platform for further work. Building on the initiative, it will strengthen international exchange, technical cooperation and project delivery across risk identification, data coordination, standards and trust certification, supporting Hong Kong's financial-centre role and orderly global digital economic development.
Produced by the HKAML Communications Centre
and Shenzhen Huiyuanliu Technology Services Co., Ltd.