TechFlow News, according to China News Service, Hong Kong Customs has announced the successful resolution of a major money laundering case involving a staggering sum of HK$1.8 billion.
According to preliminary investigations, a criminal syndicate composed of three individuals operated between June 2021 and July 2022 by establishing multiple shell companies and bank accounts, conducting over 1,000 suspicious transactions, including substantial suspicious fund transfers originating from cryptocurrency trading platforms. So far, customs authorities have arrested the three key members of the syndicate and seized assets related to the implicated companies, confiscating numerous tools used in the crimes, including mobile phones, company chops, and bank cards. The investigation is ongoing, and further arrests are not ruled out.
