Gsl opening speech - Concordia

The world of finance is like a swiftly flowing river, constantly changing. New
technologies, like artificial intelligence (AI) and digital currencies, are like
powerful currents within this river. While they bring progress, they can also
introduce new risks.

Many nations, including China, face similar challenges. Criminals can leverage
technology to commit financial crimes in increasingly sophisticated ways. This can
involve using AI to automate attacks or digital currencies to mask illegal
activities.

China believes that close collaboration is essential to address these challenges.

We actively participate in international discussions and work together with
relevant authorities – financial institutions, law enforcement agencies, and
regulatory bodies – to develop common strategies, investigate and prosecute crimes,
and establish rules that adapt to the evolving technological landscape.

China acknowledges the potential of responsible innovation to combat financial

crime. AI can be used to analyze vast amounts of data and identify suspicious
patterns, potentially preventing fraud. Technology can also be used to expand
access to secure financial services for citizens.

China believes that international cooperation is crucial. Open communication

channels allow nations to share best practices and expertise. Equipping relevant
authorities with the knowledge and tools to tackle these crimes effectively is
essential.

China remains committed to working with the international community to safeguard

the financial system by addressing the challenges posed by emerging technologies
and promote a secure financial environment for the benefit of all nations.