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The Hong Kong Police Smashed a Triad Criminal Group, Involving More Than 100 Million Yuan in Cryptocurrency Laundering

Hong Kong police have arrested 11 people in the past few days for money laundering and fraud. They have used at least 52 bank accounts to launder criminal proceeds in the past six months, involving more than HKD 124 million. They have successfully dismantled a criminal group controlled by the triad.

The Commercial Crime Bureau of the police said that five of the arrested persons were key members of the group, including one who claimed to manage a cryptocurrency shop, and the others were puppet account holders. They were contacted through online advertisements or friends, and were introduced to jobs that claimed to make quick money. The police also successfully raided the group's operational base and cash storage location in Tsim Sha Tsui, and seized about HKD 800,000 in cash.

Money Laundering Fraud
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