HKUST Leads Tripartite Alliance with KPMG and Griffith University to Launch Asia's First Master Program Concentration
In Financial Crimes and Forensic Accounting
Addressing the global financial sector’s surging demand for expertise in financial crimes and forensic accounting, The Hong Kong University of Science and Technology (HKUST) has partnered with KPMG and Griffith University to introduce Asia’s first Master of Science in Accounting (MSAC) program concentration dedicated these critical fields.
According to the World Economic Forum, the global cost of financial crimes and money laundering is approximately US$1.45 trillion annually. This new concentration within HKUST’s MSAC program will significantly strengthen Hong Kong's talent pipeline to prevent and combat financial crimes, while contributing to a more secure and resilient financial system.
The pioneering collaboration, formalized through a Memorandum of Understanding (MoU), establishes the first such concentration of within a Master of Accounting program in Asia and will feature five new specialized elective courses.
The partnership brings together the unique strengths of three leading institutions in accounting education and professional practice. HKUST spearheads the design of the elective courses, which are mandatory for students pursuing the new concentration. Griffith University contributes its extensive expertise in financial crime investigation and compliance to develop the teaching materials. Meanwhile, seasoned professionals from KPMG will deliver the courses, integrating theoretical knowledge with practical applications to equip students with industry-ready skills.
Launching in Fall 2025, the new concentration will be open to all MSAC students. Its curriculum is designed to prepare students for careers in financial crime investigation, forensic accounting, anti-money laundering and counter-terrorism financing, thereby fostering talent to promote a more robust and ethical financial sector.
“This pioneering accounting concentration addresses the pressing need for skilled professionals in combating financial crimes and frauds,” said Prof. HUI Kai-Lung, Acting Dean of HKUST Business School. “By uniting top-tier accounting education and industry expertise, this strategic partnership will shape a new generation of professionals equipped to tackle the evolving challenges in the financial sector, both in Hong Kong and beyond."
"Griffith University is committed to serving the communities in which we operate, recognizing that financial crime is a complex and widespread global issue. We are dedicated to mitigating its impact and educating our students as part of our broader mission to develop informed, ethical, and socially responsible professionals," said Prof. Anna KWEK, Director (International) of Griffith Business School.
“We aim to instill a sense of responsibility in students alongside essential skills through this educational collaboration. KPMG is deeply grateful to partner with HKUST and Griffith University on this mission,” stated Mr. Chad OLSEN, Partner and Head of Forensic Hong Kong Advisory at KPMG.
“We are committed to equipping our students with cutting-edge knowledge and tools, enabling them not only to succeed in their careers, but also to transform and safeguard the financial landscape,” added Prof. Tony SHIEH, Associate Professor of Business Education and Academic Director of the MSAC Program at HKUST.
MSAC students pursuing the new concentration are required to complete all five of the following elective courses related to Financial Crimes and Forensic Accounting:
• Introduction to Financial Crime
• Financial Crime Regulation, Compliance and Sanctions
• Financial Crime Transaction Monitoring and Investigation
• Financial Crime Risk Management and Governance
• Data Analytics for Financial Crime Investigation
About The Hong Kong University of Science and Technology
The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) iis a world-class university that excels in driving innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 3rd in the Times Higher Education’s Young University Rankings 2024, 19th Worldwide and No.1 in Hong Kong in Times Higher Education’s impact Rankings. Thirteen HKUST subjects were ranked among the world’s top 50 in the QS World University Rankings by Subject 2025, with “Data Science and Artificial Intelligence” holding the 17th place, maintaining its position as first in Hong Kong. Our graduates are highly competitive, consistently ranking among the world’s top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated “Internationally excellent” or “world leading” in the latest Research Assessment Exercise 2020 of Hong Kong’s University Grants Committee. As of May 2025, HKUST members have founded over 1,800 active start-ups, including 10 Unicorns and 17 exits (IPO or M&A)
For media enquiries, please contact:
School of Business and Management, HKUST
Danny LEE
Tel: 3469 2090
Email: dannyyklee@ust.hk
Global Engagement and Communications Office, HKUST
Gloria TANG
Tel: 2358 6306
Email: gloriatang@ust.hk
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