attracted great interest within the domestic and international communities on the aml / cft / cpf regime. this has led to higher expectations for authorities to take prompt action against activities involving cross - border flow of illicit funds as well as the broader ml / tf / pf threats. while efforts by the financial action task force ( fatf ) to enhance and provide greater clarity on related standards, including on transparency of beneficial ownership is underway, authorities and gatekeepers are also expected to ensure that blind spots are effectively addressed. more often than not, the information regarding these illicit activities resides with multiple parties across the public and private sectors. hence, any suspicion will only surface if we are able to link and integrate that information. in this pursuit, greater collaboration among the law enforcement agencies ( leas ) as well as between leas and the private sector is essential for us to efficiently and effectively connect and assess all relevant information, which will no doubt further strengthen our efforts to fight ml / tf / pf threats. in this respect, it is observed that the public - private partnership ( ppp ) is gaining momentum and is fast becoming known as a key success factor for effective information sharing in the 1 the joint money laundering intelligence aml / cft / cpf ecosystem. to quote some examples, taskforce ( jmlit ) established by the united kingdom in 2016 has prompted a key shift in 1 / 3 bis central bankers'speeches addressing ml / tf threats. as of june 2020, jmlit has completed over 750 cases and detected more than 5, 000 suspected accounts linked to financial crimes. similar achievement was also experienced by the fintel alliance in australia where within the span of one year between 2018 to 2019, over 300 cases were successfully completed through the partnership. other countries within the region have also followed suit – hong kong ’ s fraud and money laundering intelligence taskforce ( fmlit ) and singapore ’ s anti - money laundering and countering the financing of terrorism industry partnership ( acip ). in malaysia, the ppp is undertaken through the financial intelligence network ( myfinet ), which involves collaboration and information sharing between leas such as the central bank, royal malaysia police and malaysian anti - corruption commission, and private sectors such as financial institutions. given the significant potential of ppp, we have identified it as one of the apg co - chairs ’ priorities and we have also successfully conducted the first part of the ppp technical seminar in july this year. for the

to draw new insights, consider relevant initiatives and emulate best practices in your respective jurisdictions. i also note that a diverse mix of participants including from the private sector has registered for the workshop which no doubt will enrich the discourse this week. having both the public and 2 / 3 bis central bankers'speeches private sectors on the same platform would help to cement the shared responsibility mindset and synergise our efforts in addressing the ml / tf / pf risks. finally, let me thank the apg secretariat for coordinating this workshop. special thanks as well to all speakers, moderators, and participants that took their time to be with us for the next three days. with that, i wish all of you a successful and productive workshop ahead. 1 rusi, 5 years of growth of public - private partnership to fight financial crime, august 2020 2 fatf guidance on pf risk assessment and mitigation 3 uk national risk assessment of proliferation financing 4 mitigating the unintended consequences of the fatf standards 3 / 3 bis central bankers'speeches