TechFlow – Hong Kong police conducted an anti-money laundering operation this month, arresting 458 individuals suspected of money laundering and related offenses involving HK$470 million.
During the operation, police successfully intercepted over HK$16 million in illicit proceeds. Police found that members of money laundering syndicates had approached some of the arrested individuals, inducing them to hand over their identity cards and take selfies using mobile phones, which were then used to secretly open virtual bank accounts on their behalf.
Police stated that from October last year to June this year, the syndicates are suspected of using cash withdrawals and cryptocurrency trading to launder up to HK$110 million in criminal proceeds.
Hong Kong police discovered that members of money laundering syndicates invited some of the arrested individuals, luring them into handing over their ID cards and taking selfies on mobile phones, then privately opened virtual bank accounts for them.
