TechFlow news, September 23 — According to RTHK, Hong Kong Secretary for Security Tang Ping-keung stated after the release of the Policy Address that, in view of the increasing number of fraud cases involving virtual assets, the Security Bureau has established a Virtual Asset Intelligence Task Force. It will collaborate with virtual asset platforms to set up a "payment suspension mechanism" for fraud cases.
Tang noted that while fraud proceeds were previously mostly transferred via bank remittances, an increasing number are now being collected through virtual asset platforms. Under the new mechanism, once a fraud case is detected and the funds are still within a virtual asset platform, payment suspension measures will be implemented similar to those in the banking system to prevent the funds from being withdrawn.
In addition, the government is studying amendments to legislation related to sexual offenses, with proposals expected to be submitted to the Legislative Council in the first quarter of next year. The Policy Address also mentioned expanding drone patrol coverage, with automated "drone policing" missions to be rolled out in Cheung Chau and Central by the end of this year.
