TechFlow News, March 6: According to Caixin, Hong Kong Customs recently announced the bust of two suspected air cargo smuggling cases involving precious metals at Hong Kong International Airport. Approximately 168 kg of suspected gold foil and approximately 285 kg of suspected silver foil were seized, with an estimated total market value of about HK$230 million. Based on the market value of the smuggled goods, this is the largest precious metals smuggling case ever cracked by Customs since records began. Under Hong Kong’s Import and Export Ordinance, smuggling is a serious offense; any person convicted of importing or exporting undeclared cargo faces a maximum penalty of a HK$2 million fine and up to seven years’ imprisonment.
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