Chief Inspector Lo Yuen-shan of the commercial crime bureau said on Friday that members of the syndicate had used 43 local bank accounts to receive money from 34 scams from June to September, with the biggest case involving a 60-year-old housewife who lost nearly HK$3 million.
“With the help of banks, police launched an investigation into accounts thought to be involved in suspicious activities,” he said.
“After analysing the cash flow of the accounts, police found that the syndicate had used local bank accounts and cryptocurrency trading to launder money amounting to HK$231 million.”
Senior Inspector Mak Wai-kwong said 11 men and three women had been detained in police custody since Thursday and would be charged with money-laundering offences. Among the arrestees, 13 were from mainland China.
