Hong Kong police have arrested 20 people over a series of fraud cases in which a 19-year-old college student allegedly led a gang posing as mainland secret agents to swindle victims out of more than HK$2 million (US$257,000). Cheung Wai-shan, chief inspector of the force’s regional crime unit in Western district, said on Wednesday that…
Hong Kong customs has arrested five people on suspicion of laundering HK$8.9 billion (US$1.1 billion) in suspected crime proceeds over a four-year period, with investigators for the first time uncovering a syndicate using sophisticated fake shipping websites for “phantom trading”. Senior Investigator Tsoi Kim-fai of customs’ financial investigation bureau said on Tuesday that the operation…
China is highlighting its success in joint law enforcement with the sentencing of two men in a drug-related money laundering case following a tip-off from the United States. The People’s Daily stated on Saturday that officers in Shenyang, in northeast China’s Liaoning province, had received information in April last year from US authorities about a…
Hong Kong police have arrested five men on suspicion of posing as Mandatory Provident Fund (MPF) account holders to withdraw HK$1.8 million (US$231,300) from the city’s new online pension fund platform. The scam also prompted the Mandatory Provident Fund Schemes Authority, which manages the pension scheme, to immediately suspend its paperless verification process, known as…
A former Hong Kong government engineer was jailed for five years and three months on Tuesday for laundering HK$6.26 million (US$804,000) in illegal proceeds, having lived far beyond his legitimate income. The High Court heard that 60-year-old Zsa Sing-tak had also accepted a HK$40,000 bribe to favour engineering firms linked to a friend during tendering…
Crypto is a major vehicle for Chinese money laundering schemes. Criminals are using crypto to fuel the fentanyl drug trade. Crypto crime losses hit record levels in 2025. While the Chinese government has spent years enforcing strict capital controls, the country’s money launderers have spent those same years devising means of subverting such restrictions, including…
LONDON — A Chinese woman who was found with 5 billion pounds ($6.6 billion) in Bitcoin after defrauding more than 128,000 people in China in a Ponzi scheme was sentenced by a U.K. court on Tuesday to over 11 years in prison. Police said the investigation into Zhimin Qian, 47, led to officers recovering devices…
This Feb 16, 2025, file photo shows the Hong Kong skyline with people crossing a street in the Central business district. (SHAMIM ASHRAF / CHINA DAILY) Singapore and Hong Kong Special Administrative Region regulators are strengthening cooperation to supervise banks in the two key financial hubs. An agreement facilitates the exchange of information and mutual…
Hong Kong customs has uncovered its largest money laundering case this year, arresting four individuals involved in suspicious transactions totalling HK$2.6 billion (US$334 million) across more than 50 bank accounts linked to three shell companies. A 25-year-old man and a 52-year-old woman, both employed at different money service operators, together with two male directors of…
Hong Kong police have arrested 12 people linked to a fraud syndicate selling fake tickets to major concerts, including performances by G-Dragon and Jay Chou, amid fervour for live shows sparked by the opening of Kai Tak Sports Park. Eight men and four women, aged between 18 and 48, were arrested this week for allegedly…