KEY TAKEAWAYS
- Binance was recognized by the Hong Kong Police Force for its crucial role in dismantling a major fraud and money laundering syndicate.
- The operation led to multiple arrests and involved millions of Hong Kong dollars, highlighting the effectiveness of public-private collaboration.
- Binance continues to strengthen its partnerships with law enforcement, providing training and expertise in virtual asset investigations.
- Ongoing discussions with the Cyber Security and Technology Crime Bureau aim to enhance efforts against financial and cyber crime.
In a notable instance of public-private collaboration, Binance has been recognized by the Hong Kong Police Force for its significant assistance in a major fraud and money laundering case involving virtual assets. Nils Andersen-Röed, Binance’s Global Head of Financial Intelligence Unit (FIU), accepted the recognition on behalf of the company.
The Hong Kong Police Force successfully dismantled a local criminal group engaged in illicit activities using virtual assets. This operation led to the arrest of several individuals, including the group’s leader, and involved funds amounting to millions of Hong Kong dollars. In appreciation of Binance’s invaluable support, the police presented the company with an award and a letter of appreciation, acknowledging its pivotal role in the operation’s success.
Public-Private Collaboration for Justice
The letter from the Hong Kong Police highlighted Binance’s unwavering support and its dedication to fostering a secure and transparent digital ecosystem. The police expressed hope for continued collaboration with Binance in the future. Nils Andersen-Röed remarked, “We feel deeply honored by this recognition from the Hong Kong Police Force. This operation is another testament to Binance’s commitment to working closely with law enforcement agencies worldwide.”
In addition to the recent recognition, Binance has previously received a letter of appreciation from the Hong Kong Police for its assistance in a kidnapping case. The company has also been invited to provide training and share expertise on virtual asset investigations with various law enforcement units in Hong Kong.
Deepening Partnerships for Safety
Furthering its commitment to combating financial crime, Nils Andersen-Röed and Carlos Mak from Binance’s investigation team met with representatives of the Cyber Security and Technology Crime Bureau (CSTCB) at the Hong Kong Police Headquarters. Discussions focused on enhancing bilateral efforts to combat financial and cyber crime, as well as sharing Binance’s experience in collaborating with global law enforcement agencies.
Superintendent Ms. Hui Yee-wai of the CSTCB expressed appreciation for Binance’s long-standing support, stating, “In face of the new challenges of the digital era, the Hong Kong Police Force will continue to enhance its capacity through such public-private partnerships and spare no effort to combat crime and protect the public.”
Nils Andersen-Röed emphasized Binance’s commitment to cooperation with global law enforcement, stating, “We will continue to uphold the spirit of cooperation and proactively work alongside authorities to bring offenders to justice, contributing to the safety of the global financial ecosystem.”
For more details, the announcement can be found here.
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