Hong Kong Legislative Council Passes Non-Binding Motion to Strengthen Measures Against Online Fraud

According to Foresight News, the Hong Kong Legislative Council has passed a non-binding motion urging the government to strengthen measures against online fraud. Legislator Wu Jiezhuang (Election Committee) stated that effectively combating online fraud cannot rely solely on the police force, but requires cross-government, cross-sector, and cross-level efforts, and is a protracted battle. Hong Kong's Deputy Secretary for Financial Services and the Treasury, Chen Haolian, said that the Hong Kong Securities and Futures Commission will actively strengthen investigations and enforcement efforts against online financial fraud activities, and cooperate with local and non-Hong Kong regulatory authorities for joint law enforcement. The Hong Kong government attaches great importance to fraudulent activities involving unlicensed virtual asset trading platforms and is committed to protecting investor interests and cracking down on illegal and fraudulent platforms or websites.