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Authorities in Hong Kongworking with the continental police, has Turn off a money laundering operation that will use cryptocurrencies and hundreds of false bank accounts Transfer around HK $ 118 million (approximately $ 15 million).
The investigation led to the arrest of 12 people May 15, nine men and three women, according to a report by Hong Kong Commercial Daily Posted on May 17.
According to inspector Senior Tse Ka-lun of the Office of Commercial Crime, many of the The bank accounts used were opened by friends or family of those involved.. This helped the group avoid detection while moving money through what seemed to be personal or low risk accounts.
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On the day of the operation, two members of the group were followed when they left the apartment, one went to a bank branch, the other to an ATM. After removing cash, they went to an encryption exchange store in Tsim Sha Tsui to convert the funds.
The officers intervened before the transaction occurred and arrested them with around HK $ 770,000 (about $ 98,500) in the hand. Police then arrested the other 10 suspects.
Searches made as part of the operation led to the recovery of approximately HK $ 1.05 million (approximately $ 134,000)along with more than 560 ATM cards, mobile phones, bank paper and cryptographic transaction records.
In addition, researchers have already HK adjustment $ 9.4 million (more than $ 1.2 million) from the operation to 58 separate fraud cases.
On May 14, the European authorities arrested 17 people for operating a cryptography -based network that washed more than $ 23 million for other criminal groups. How did the case develop? Read the full story.
Having completed a master’s degree in economics, politics and cultures of the Oriental Asia region, Aaron has written scientific documents that analyze the differences between Western and collective capitalism forms in the era after World War II.
With about a decade of experience in the Fintech industry, Aaron understands all the most important problems and struggles facing cryptography enthusiasts. He is a passionate analyst who is concerned about data -based content and based on facts, as well as the one who speaks for both web3 natives and for the newcomers of the industry.
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