• Leading Hong Kong professional services practitioners collaborate to launch Hong Kong Chapter of industry group aimed at sharing best practice in digital asset fraud recovery and advancing standards in the digital asset industry

• CFAAR Hong Kong Chapter to reinforce Hong Kong’s position at the forefront of global digital asset regulation, fraud detection and recovery 

Hong Kong – A group of seven prominent professionals comprising solicitors, barristers, forensic accountants and financial regulation experts have jointly launched the Hong Kong Chapter of the Crypto Fraud and Asset Recovery network (“CFAAR Hong Kong Chapter” or “the Hong Kong Chapter”). CFAAR Hong Kong Chapter’s objectives are twofold: to promote best practice in fraud detection and asset recovery in Hong Kong’s digital asset ecosystem and to position Hong Kong at the forefront of global digital asset regulation and dispute resolution by acting as an authoritative and independent voice in crypto-related judicial and regulatory reviews and consultations. Ultimately, CFAAR Hong Kong Chapter aims, through its work, to increase trust in the cryptocurrency industry and thereby promote safer and more secure adoption of digital assets. 

CFAAR Hong Kong Chapter was formed a year after the launch of CFAAR in London in September 2021. It will work closely with other CFAAR chapters across Asia and globally. 

The Hong Kong Chapter's founding members include:

• Henry Chambers, Senior Director, Disputes and Investigations, Alvarez & Marsal
• Byron Chiu, Barrister, Temple Chambers
• Jonathan Crompton, Partner, RPC
• Donald Day, former SFC virtual asset policy expert
• Calvin Koo, Disputes and Investigations Lawyer, Kobre & Kim
• Laurence Li, SC, Temple Chambers
• Dorothy Siron, Co-Managing Partner, Zhong Lun Law Firm 

Commenting on the launch of the CFAAR Hong Kong Chapter, the group of founding members said: “Hong Kong is one of the fastest-growing digital asset markets in the world. Recently ranked once again as the freest economy in the world[1], it has led the way in fostering innovation and encouraging institutional participation, while providing considered and thoughtful regulatory oversight to protect the interests of investors. 

“As digital assets become mainstream, the frequency and sophistication of scams including cryptocurrency theft and ransomware are increasing. While the value of digital assets lost to crypto crime has slowed since the start of the current 'crypto winter', by June 2022 the value of digital assets stolen in hacks was higher than in 2021 year-on-year. The increased uptake of digital assets and of related illicit activity is driving a sizeable uptick in disputes and court cases in Hong Kong. The CFAAR Hong Kong Chapter was established to foster and share the most effective legal and investigative tools to recover digital assets lost to fraud, to improve the advice given to victims of fraud and to encourage best practice among digital asset service providers.” 

The Hong Kong Chapter encourages professionals in the digital asset industry to join an inclusive community to promote skills development, innovation and networking in Hong Kong through meetings, seminars, roundtables, conferences, social events and publications. 

To register your interest in becoming a member of CFAAR, please join the LinkedIn group "CFAAR – Crypto Fraud and Asset Recovery" by clicking here. 

For further information, please contact:

Notes to editors:

CFAAR Hong Kong Chapter was launched in September 2022, one year after the launch of CFAAR in the UK, to promote best practice in fraud detection and asset recovery in Hong Kong’s digital asset ecosystem and to position Hong Kong at the forefront of global digital asset regulation and dispute resolution. Its seven founding members, comprising solicitors, barristers, forensic accountants and regulations experts, aim to build an inclusive community to promote skills development, innovation and networking in Hong Kong through meetings, seminars, roundtables, conferences, social events and publications. CFAAR Hong Kong Chapter will work closely with other CFAAR chapters across Asia and globally.