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Hong Kong customs arrest four in first crypto laundering bust
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15/07/2021 - 06:30 Hong Kong customs police said they had conducted their first successful operation to dismantle a money laundering syndicate that used cryptocurrency Anthony WALLACE AFP/File 3 min
Hong Kong (AFP)
Hong Kong customs officials said Thursday they had dismantled a money laundering syndicate that used cryptocurrency to process some HK$1.2 billion ($155 million) in illegal funds, in what they said was the first successful operation of its kind. It is the first time in Hong Kong that a money-laundering ring involved in using cryptocurrency to wash dirty cash and conceal the source of criminal assets was broken up, Senior Superintendent Mark Woo Wai-kwan told reporters.
More than 1,300 diamonds estimated to be worth HK$25 million (S$4.3 million) have been seized from a truck at a border checkpoint in Hong Kong in the biggest bust of its kind. The Shenzhen-bound haul was discovered when the vehicle was selected for inspection at the Sha Tau Kok control point at about 8pm on Thursday (June 3). The truck.