Hong Kong Police Force introduces 'CyberDefender' metaverse platform
A new metaverse platform dubbed ‘CyberDefender’ has been introduced by the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force to increase public awareness of crimes in the Metaverse and web3.
metaverse
Highlights
- Hong Kong Police launches a metaverse initiative to explore threats in web3
- Web3 and metaverse-related risks highlighted at the event
- Ip Cheuk-yu issued a warning about crimes in the metaverse
The Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force (HKPF) has just unveiled a brand-new metaverse platform named ‘CyberDefender’ to spread awareness of technology-related crimes. The platform consists of three unique locations: the Auditorium, the Web3-themed Gallery, and CyberDefender City.
What was the purpose of the event ‘Exploring the Metaverse’?
The police department held an initial event within the virtual world called ‘Exploring the Metaverse’ to mark this significant occasion. The event highlighted a number of web3 and metaverse-related concerns and possibilities, such as investment fraud, unauthorised system access, and theft. The platform's main goal is to inform people about the various risks that can exist in this digital world.
An increase in criminal activity is visible in the metaverse
According to the Hong Kong police department, the city of Hong Kong saw an astonishing 2,336 offences using virtual assets in 2022.
These accidents caused the victims to suffer significant financial losses totaling $1.7 billion. Since 663 comparable cases have already been documented in the first three months of this year, the seriousness of the problem is made even more clear.
Sadly, the losses reported within this brief period were $570 million, representing an increase of 75 percent compared to the same period in 2022. These figures highlight how urgent it is to take preventative action to stop the growing trend of crimes involving virtual assets and safeguard people from serious financial loss.
Hong Kong Police emphasise need for cybersecurity vigilance
A detailed lecture on the dangers of web3 was given by Chief Inspector Ip Cheuk-yu of the CSTCB on the occasion. The CSTCB's Cheuk-yu spoke during an extensive virtual event and said:
"All cybercrimes, including investment fraud, unauthorised system access, theft, and sexual offences, could occur in the metaverse."
The chief inspector said that the metaverse and other forms of decentralised technologies increase the probability of asset theft:
"The decentralised nature of virtual assets in web3 may also increase the likelihood of cybercriminals targeting endpoint devices, virtual asset wallets, and smart contracts."
Updated anti-money laundering rules
The Hong Kong Securities Regulatory Commission (HKSRC) published updated anti-money laundering (AML) rules in connection with the launch of the new metaverse platform.
The educational guide describes the strategies used by criminals to launder money using digital assets and provides thorough precautions that financial institutions should take to protect themselves from criminal activities.
It's interesting to note that this is not the first instance of a law enforcement agency using the metaverse to spread awareness. The International Criminal Police Organisation (INTERPOL) unveiled its own metaverse experience in October 2022, designed with all law enforcement organisations in mind.
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