Hong Kong, mainland Chinese police arrest 22 in cross-border crackdown on money-laundering syndicate
08 Sep 2021

Police in Hong Kong and mainland China have arrested 22 people in a joint operation against a cross-border syndicate suspected of using 85 local bank accounts to launder HK$740 million (US$95.2 million) in criminal proceeds over the past 17 months.

A little over a third of the money was stolen from Hong Kong residents in 43 separate phone scams, online romance cons and investment fraud cases between April 2020 and August this year, according to the force. Of the 43 victims, the worst hit was a 76-year-old woman who was conned into parting with HK$82 million over four months.

Superintendent Chow Cheung-yau of the force’s financial intelligence and investigation bureau said police were still looking into the potentially illegal sources of the remaining HK$468 million.

By Clifford Lo, South China Morning Post, 8 September 2021

Read more at South China Morning Post

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