Organised and Serious Crimes Ordinance – Charm

HK$261 million of frozen crime funds may take 7 years to reach Hong Kong coffers

4 weeks ago02 mins

Hong Kong authorities froze HK$261 million (US$33.4 million) in suspected criminal proceeds linked to money laundering and drug trafficking last year, but experts say it may take as long as seven years for any of the funds to reach government coffers. According to data from the Joint Financial Intelligence Unit, run by police and customs,…

2 arrested in Hong Kong over laundering HK$1.15 billion in case involving stablecoin

Cs news8 months ago02 mins

Hong Kong customs officers have arrested two men who allegedly smuggled cash out of the city and made suspicious transactions, including with a popular stablecoin, to launder HK$1.15 billion (US$146.5 million). A Customs and Excise Department spokesman said on Tuesday that an investigation into the pair found they had smuggled cash out of the city….