Hong Kong police arrested 12 people involved in the cross -border money laundering scheme depending on encryption and more than 500 Stooge bank accounts to wash $ 118 million ($ 15 million).
The union was dismantled on May 15, which resulted in the arrest of nine men and three women on the main mainland of China and Hong Kong.
It was claimed that the suspects have recruited others to open bank accounts to receive revenue from fraud issues, which were then converted into encryption in encryption stores to laundering illegal money, Hong Kong daily commercial I mentioned On May 17.
The criminal organization rented a housing unit in the Hong Kong neighborhood of Mong Cook for planning and implementing money laundering activities. Of the $ 15 million washed, more than $ 1.2 million has been linked to 58 frauds reported.
I caught at work
Follow the Police Control Bulletal statue on May 15, when two recruits left the Mong Kok base from the union – one of whom visited a bank, and the other ATM – before they both go to convert the money into an encryption in a coding store in the TSIM SHA TSUI neighborhood.
Police arrested both individuals immediately, and seized about $ 770,000 Hong Kong (98,540 dollars) in cash before money was washed. 10 other individuals, between the ages of 20 and 41, were arrested shortly after.
The police seized nearly $ 1.05 million Hong Kong ($ 134,370) cash, more than 560 ATM cards, multiple mobile phones, bank documents and records related to encryption transactions.
The chief inspector Tse Ka-Lun of Hong Kong Trade Office claimed that individuals often use bank accounts from their friends and family to launder the stolen money.
Hong Kong announced a 12 % increase on an annual basis in fraud reports in 2024, when the authorities carried out more than 10,000 frauds. Among those arrests, about 73 % of individuals with Stooge bank accounts participated.
Related to: Other Ministry of Justice duties turned into 263 million dollars paste bitcoin
The campaign comes at a time when Hong Kong continues to launch its regulatory framework to support local innovation, protect consumers and establish itself as an encryption center.
Hong Kong Securities and Securities Committee in Hong Kong introduced new bases for encrypted exchanges that provide savings services in April. Two months ago, the securities organizer provided a road map to improve market access, improve compliance, expand products offers, and enhance encryption infrastructure and reinforced relations with industry players.
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