Hong Kong Develops Crypto Tracking Tool to Combat Money Laundering

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The Hong Kong Customs and Excise Department has teamed up with the University of Hong Kong (HKU) to develop a new digital tool designed to trace cryptocurrency transactions linked to money laundering.

Speaking at a press briefing on Thursday, Assistant Commissioner Mario Wong Ho-yin emphasized the growing complexity of financial crimes, which often operate across borders. “These threats are transnational in nature—no single agency can address them alone,” he said, as reported by the South China Morning Post.

While Wong did not disclose specific details about the tool’s functionality, citing operational secrecy, he noted that authorities would strengthen collaboration with academics, financial experts, and law enforcement to enhance detection capabilities.