Golden Finance reports that in order to effectively deal with the increasingly rampant digital asset money laundering crimes, the Hong Kong Customs and the University of Hong Kong have reached a strategic cooperation, jointly committed to developing an advanced cryptocurrency transaction tracking tool. Assistant Commissioner of Customs of Hong Kong, Wong Ho-hin, made it clear that this cooperation project aims to precisely combat cross-border financial crimes and maintain the stability and security of Hong Kong’s financial market.
Worldwide, with the rapid development of the cryptocurrency market, its characteristics such as anonymity and convenience have gradually been exploited by lawbreakers, becoming a breeding ground for illegal activities such as money laundering. Hong Kong, as one of the international financial centers, has not been spared either. Data shows that from 2021 to May 2025, a total of 39 major money laundering cases were recorded in Hong Kong, among which 7 cases were closely related to cryptocurrencies. Particularly notable is a suspicious transaction case involving an amount as high as 1.8 billion Hong Kong dollars (approximately 229 million US dollars), highlighting the severity and complexity of the problem of cryptocurrency money laundering.
This cooperation between the Hong Kong Customs and the University of Hong Kong will give full play to the advantages of both sides. The Hong Kong Customs has rich practical experience and law enforcement resources in combating financial crimes and investigating the flow of funds, and is capable of providing actual case data and law enforcement demand guidance. The University of Hong Kong has strong capabilities in the field of scientific research, especially in computer science, data analysis, and blockchain technology research, where it possesses cutting-edge technologies and professional talents, which can provide solid technical support for the development of tracking tools.
It is understood that this cryptocurrency transaction tracking tool will apply advanced blockchain analysis technology, big data mining algorithms and artificial intelligence models to conduct all-round and real-time monitoring of the cryptocurrency transaction network. It has powerful functions that can precisely track the flow of cryptocurrency transactions. Even if funds are frequently transferred between multiple wallet addresses and trading platforms, it can still unravel the mystery and restore the true source and destination of the funds. Meanwhile, by establishing a risk assessment model, intelligent early warnings are issued for suspicious transaction behaviors, helping law enforcement departments promptly identify criminal clues and improve the efficiency of crackdowns.
Assistant Commissioner of Customs of Hong Kong, Wong Ho-hin, emphasized that as the cryptocurrency market continues to expand, cross-border financial crime methods have become increasingly covert and complex, and traditional regulatory measures are no longer sufficient to meet the demands. This collaboration with the University of Hong Kong to develop a tracking tool represents a significant exploration by the Hong Kong Customs in the field of technology-enabled law enforcement, marking a crucial step forward for Hong Kong in addressing the challenge of cryptocurrency money laundering. In the future, the Hong Kong Customs will also enhance cooperation and information sharing with other law enforcement agencies, financial regulatory authorities and international organizations to build a more rigorous cross-border financial crime prevention and control network.
For the University of Hong Kong, participating in this cooperative project is not only a beneficial attempt to transform scientific research achievements into practical applications, but also accumulates valuable experience for the university’s research in the field of fintech regulation. The relevant person in charge of the school stated that they will invest the most high-quality scientific research forces to ensure the efficient development and stable operation of the tracking tool, and contribute to the financial security of Hong Kong.
At present, this cryptocurrency transaction tracking tool is still in the research and development stage. It is expected to be officially put into use after a series of strict tests and optimizations. Subsequently, Golden Finance will continue to follow up on the project’s progress and bring you the latest reports.
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