Hong Kong Customs and Excise Department is partnering with the University of Hong Kong to create a digital tool designed to track cryptocurrency transactions involved in suspected money laundering schemes. This initiative comes in response to a rise in money laundering cases linked to digital assets. The Assistant Commissioner, Mario Wong Ho-yin, emphasized the need for collaboration between customs officials, academics, finance professionals, and law enforcement to combat the growing complexity and borderless nature of financial crimes. Between 2021 and May 2025, Hong Kong customs recorded 39 significant money laundering cases, with seven involving cryptocurrencies. One notable incident included over 1,000 suspicious transactions amounting to approximately $229 million, leading to arrests tied to a crypto platform. The collaboration also included a workshop with international law enforcement from eight jurisdictions to enhance cross-border efforts against digital financial crimes.

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