Hong Kong police dismantle cross-border money laundering syndicate: Over HK$150 million laundered in 3 months, 22 arrested.
10 minutes ago
Hong Kong police have dismantled a cross-border money laundering syndicate that laundered over HK$150 million in criminal proceeds between August and October this year, arresting 22 people. The Criminal Investigation Department of the New Territories North Regional Headquarters launched a two-day operation codenamed "Thunder Web" starting November 10, searching a guesthouse, a subdivided flat, and a shop disguised as a virtual currency over-the-counter (OTC) trading platform. Police said the syndicate recruited mainland Chinese nationals to open dummy accounts in Hong Kong, then arranged personnel to withdraw cash from ATMs using bank cards distributed by the group. The cash was sent to the aforementioned shop, where masterminds laundered the funds via virtual currency transactions and other methods. Among the 22 arrested, 21 are male and 1 female, aged 21 to 54: two are local residents, and 20 are mainland Chinese holding two-way permits. Investigations found two local core members controlled the money laundering hub; one mainland "runner" was responsible for recruiting cash withdrawers, distributing bank cards, and collecting/transporting cash; another 19 mainland members acted as account-opening brokers, cash withdrawers, and dummy account holders. Police seized over 1,600 bank ATM cards, approximately HK$5.85 million in cash, and more than 200 mobile phones.
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