TechFlow news, on March 22, according to Hong Kong Commercial Daily, the Hong Kong Police conducted a crackdown operation codenamed "Sphinx" in the Yau Tsim District from March 10 to 19, successfully cracking down on a series of fraud and money laundering activities. A total of 45 cases were solved during this operation, with 54 suspects arrested and an involved amount reaching HK$194 million.
The largest single case involved a cryptocurrency investment scam targeting foreigners, amounting to HK$72 million. Victims were lured into investing in cryptocurrencies and transferring funds into designated bank accounts. Two women from mainland China (aged 30 and 34), identifying themselves as a housewife and a businesswoman respectively, have been arrested and charged with money laundering at Kowloon City Magistrates' Court on March 11.
