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Hong Kong enhances efforts on to fight the money laundering that involves the crypto currency.
City Customs department and excise duties United with Hong Kong University Develop a tool that accompanies suspicious transactions of cryptocurrencies.
According to a June 12 South China’s Report Morning PostThe goal is Help officers to identify and explore digital money paths This can be used to cover up illegal means.
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During the briefing for journalists, Assistant Commissioner Mario Wong Ho-Yin explained that Solving these crimes requires common effort by law enforcement, finance experts and academic researchersBecause no group can manage it on its own.
Wong did not share the technical details of how the crypto system worksas he noted that the project was still in development. However, the focus is to bring data, research and cooperation to improve the way of solving digital crimes.
Between 2021 and May 2025. Hong Kong authorities processed 39 cases of money laundering. Seven of them were involved in cryptocurrencies.
According to the report, over $ 1.8 billion (around $ 229 million) was transferred through more than 1,000 shady transactions, which included five companies and 18 local bank accounts. Three people were arrested, and two are suspicious that they transferred 760 million HK via the Kripto platform.
In a separate case, the Hong Kong authorities, in cooperation with Chinese police, recently extinguished the operation of laundering of money based on cryptocurrencies. How did the raid take place? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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