PANews reported on September 23rd that according to Hong Kong's TVB News, Hong Kong Security Secretary Chris Tang Ping-keung stated that fraud cases involving virtual assets have increased. The Security Bureau has established a Virtual Asset Intelligence Task Force and is working with virtual asset platforms to establish a "stop payment mechanism" for these scams. Chris Tang added that some scams previously involved bank transfers but are now using virtual asset platforms to withdraw funds, necessitating that virtual asset service providers have mechanisms in place. If a fraud case is discovered and funds are still held on a virtual asset platform, the platform should, like the banking system, halt the disbursement of funds and initiate a stop payment.PANews reported on September 23rd that according to Hong Kong's TVB News, Hong Kong Security Secretary Chris Tang Ping-keung stated that fraud cases involving virtual assets have increased. The Security Bureau has established a Virtual Asset Intelligence Task Force and is working with virtual asset platforms to establish a "stop payment mechanism" for these scams. Chris Tang added that some scams previously involved bank transfers but are now using virtual asset platforms to withdraw funds, necessitating that virtual asset service providers have mechanisms in place. If a fraud case is discovered and funds are still held on a virtual asset platform, the platform should, like the banking system, halt the disbursement of funds and initiate a stop payment.
The Hong Kong Security Bureau has established a virtual asset intelligence task force to work with relevant platforms to establish a payment stop mechanism.
PANews reported on September 23rd that according to Hong Kong's TVB News, Hong Kong Security Secretary Chris Tang Ping-keung stated that fraud cases involving virtual assets have increased. The Security Bureau has established a Virtual Asset Intelligence Task Force and is working with virtual asset platforms to establish a "stop payment mechanism" for these scams. Chris Tang added that some scams previously involved bank transfers but are now using virtual asset platforms to withdraw funds, necessitating that virtual asset service providers have mechanisms in place. If a fraud case is discovered and funds are still held on a virtual asset platform, the platform should, like the banking system, halt the disbursement of funds and initiate a stop payment.
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