Hong Kong Customs Seizes $1.15 Billion in Suspected Money Laundering Case, Two Arrested

Hong Kong Customs detects money laundering case involving about $1.15 billion

Hong Kong Customs today (July 22) detected a suspected money laundering case involving cash smuggling and virtual assets to launder a total of about $1.15 billion. One local man and one non-local man were arrested.

Acting upon intelligence, Customs officers earlier targeted a 37-year-old local man and a 50-year-old non-local man and initiated a financial investigation. It was revealed that the duo smuggled cash out of Hong Kong, and conducted stablecoin and fiat currency transactions with a doubtful fund source at a frequent and fast pace, which was highly incommensurate with their background and financial status. They were suspected of participating in money laundering activities.

Following in-depth investigations, Customs officers this morning raided four residential premises and two companies and seized a batch of items suspected to be connected with the case, including mobile phones, tablets and bank cards. The two men, who claimed to be self-employed and unemployed respectively, were arrested for "dealing with property known or reasonably believed to represent proceeds of an indictable offence" (commonly known as money laundering) under the Organized and Serious Crimes Ordinance (OSCO).

An investigation is ongoing. The two arrested persons have been released on bail pending further investigation. The likelihood of further arrests is not ruled out.

Under OSCO, a person commits an offence if he or she deals with any property knowing or having reasonable grounds to believe that such property in whole or in part directly or indirectly represents any person's proceeds of an indictable offence. The maximum penalty upon conviction is a fine of $5 million and imprisonment for 14 years while the crime proceeds are also subject to confiscation.

Members of the public may report any suspected money laundering activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/).

Source: AI-found images

Online public voting begins for EDB's Parent-Child FUNtastic Free Verse Challenge

Online public voting for the Family Resilience Series: Parent-Child FUNtastic Free Verse Challenge under the Positive Parent Campaign organised by the Education Bureau (EDB) commences today (January 5) and runs until 3pm on January 19. Parents, students, teachers and members of the public are invited to participate actively in voting for The Most Liked Award across each group.

A spokesman for the EDB said, "The competition has received an enthusiastic response, with over 1 200 entries submitted across four groups: kindergarten, primary, secondary and open groups. Participants conveyed messages about actively facing life's challenges, building resilience, and promoting mental well-being in different ways. To encourage public participation and enhance the interactivity of the competition, the EDB has established The Most Liked Award in each group. Members of the public may vote for their favourite entry in each group through the activity website (www.parent.edu.hk/en/smart-parent-net/topics/article/ppc-competition2025) from the 20 outstanding entries selected by the adjudicators. The entry receiving the most 'likes' in each group will be awarded The Most Liked Award. The result and awards will be announced and presented at the Parent-Child FUNtastic Free Verse Challenge Final cum Prize Presentation Ceremony on January 24."

The EDB aims to enhance the understanding of the Positive Parent Campaign among students, parents, and the public through activities under the Family Resilience Series, and to work with parents and schools to create an environment conducive to the healthy development of students through promoting the 4Rs Mental Health Charter.

The EDB has been running the Positive Parent Campaign since June 2020. For updates, please visit the Smart Parent Net website (www.parent.edu.hk/en).

Photo source: parent.edu.hk