Hong Kong Customs and Excise Department detected a money laundering case involving about HK$5 million in cross-border diamond trade. During the operation, Customs raided a total of 8 premises including 4 residential and 4 commercial units in various districts of the territory. The members of the syndicate set up diamond trading companies in Hong Kong and India respectively and suspected that they had exported a large number of low-value man-made diamonds from Hong Kong to India. The maximum penalty upon conviction is a fine of $500 million and imprisonment for 14 years.