Hong Kong has taken a significant step forward in combating fraud as the Hong Kong Anti-Fraud Alliance officially unveiled its new platform during the Web3 Festival 2026. This launch signals a transformative shift in the region’s anti-fraud strategy, emphasizing digital innovation, structured systems, and strong collaboration across sectors.

To begin with, the alliance brought together key stakeholders, including lawmakers, technology experts, and industry leaders, to build a unified response to rising fraud cases. Notably, Z Oracle played a central role as the official technical partner. The company handled the platform’s architecture, development, and ongoing operations while also enabling advanced blockchain analytics and risk detection features.

During the launch event, several prominent figures attended, including Ng Kit-chung, Sham Ho-kit, and Ng Man-him. Together with industry representatives from organizations like Web3Labs, they officially activated the platform, marking the beginning of Hong Kong’s first large-scale collaborative anti-fraud ecosystem powered by both civic participation and technology.

Over the years, Hong Kong has experienced a surge in sophisticated fraud schemes, including online scams, investment fraud, and cross-border digital asset crimes. Therefore, this initiative builds on earlier proposals by Ng Kit-chung to create a “Civilian Anti-Fraud Alliance,” aimed at strengthening public awareness and victim support through collective action.

Ng Kit-chung stated, “The fraud problem facing Hong Kong is no longer a challenge that can be solved by a single institution, but rather involves the shared responsibility of financial institutions, technology platforms, and all sectors of society. In the past, we proposed the idea of establishing an anti-fraud alliance. Today, through this platform, we can finally transform the concept into a practical system, allowing information to flow more effectively, providing victims with more timely support, and enhancing the overall fraud prevention capabilities of society. In the future, we also hope that this platform can be further developed into an important anti-fraud collaborative infrastructure at the Hong Kong and even international levels.”

Furthermore, the platform integrates artificial intelligence and blockchain technology to deliver real-time risk scanning and fraud reporting capabilities. Users can check suspicious wallet addresses, websites, or contact details, while victims can submit evidence such as transaction logs and screenshots for investigation. Additionally, blockchain analytics tools trace financial flows, helping authorities detect suspicious activity more efficiently.

In his keynote, JZ stated, “When we designed this platform, our starting point was very simple: to provide ordinary citizens with a place where they can instantly inquire and seek help when they encounter suspicious situations. In the past, many victims, after discovering they had been scammed, did not know where to seek help or whether the information they had was useful. The role of this platform is to transform this information into structured data, allowing professional institutions to understand what happened more quickly.”

He further pointed out, “The platform connects technical analysis capabilities with institutional networks. For example, if a wallet address is reported by multiple users, the system will automatically mark it as risky and combine it with on-chain data analysis to help identify the flow of funds. This information can help relevant institutions make judgments more quickly, thereby improving processing efficiency. We hope that this platform is not just a tool for after-the-fact action, but can help more people identify risks and avoid losses before fraud occurs.”

Looking ahead, the alliance aims to expand participation across industries, including cybersecurity firms, financial institutions, and legal experts. Ultimately, by combining technological innovation with community engagement, Hong Kong seeks to build a sustainable and proactive anti-fraud ecosystem that not only responds to incidents but also prevents them.

Source – PR Newswire

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