Police today announced the establishment of a joint working group with the Securities & Futures Commission (SFC) to enhance collaboration in monitoring and investigating illegal activities related to Virtual Asset Trading Platforms. (VATPs).
Formed after a high-level meeting of the two parties on September 28, the working group comprises representatives from Police’s Commercial Crime Bureau, Cyber Security & Technology Crime Bureau, Financial Intelligence & Investigations Bureau, and the SFC’s Enforcement Division and Intermediaries Division.
The working group will implement a mechanism to assess the risks of suspicious VATPs, enhance co-ordination and collaboration in related investigations, and facilitate the sharing of information on suspicious activities and breaches of VATPs.
Assistant Commissioner of Police (Crime) Eve Chung noted that the implementation of the new platform is instrumental to fast-tracking vital intelligence exchange and joint collaboration to cope with the challenges arising from VATPs so as to better protect the general public.
Securities & Futures Commission Executive Director of Enforcement Christopher Wilson supplemented that the commission looks forward to closer collaboration with Police in deploying expertise and resources to combat problematic VATPs and protect the interest of investors.
