Hong Kong Customs collaborates with the University of Hong Kong to develop a cryptocurrency money laundering tracking tool to combat money laundering crimes involving digital assets

ChainCatcher news, according to Cointelegraph, Hong Kong Customs announced a collaboration with the University of Hong Kong to develop a cryptocurrency transaction tracking tool to combat money laundering crimes involving digital assets. Assistant Commissioner Wong Ho-yin pointed out that from 2021 to May 2025, a total of 39 major money laundering cases were investigated, of which 7 involved cryptocurrencies, with the largest case involving HKD 1.8 billion (approximately USD 230 million), leading to the arrest of 3 suspects who transferred HKD 760 million through a cryptocurrency platform.

The operational details of the tool have not been disclosed due to confidentiality. This week, Customs, in collaboration with law enforcement agencies from 8 jurisdictions including China and Singapore, held a three-day anti-money laundering seminar to strengthen cross-border cooperation in combating digital financial crimes.