Hong Kong cracks down on HK$118M crypto-linked laundering syndicate

18-5-2025 – Hong Kong authorities have dismantled a sophisticated cross-border money laundering syndicate, apprehending 12 individuals orchestrating a scheme that funnelled HK$118 million ($15 million) through cryptocurrency and a sprawling network of over 500 illicit bank accounts. The operation, exposed on 15 May, has cast a spotlight on the evolving nexus of fraud and digital [. . source: https://www.cointrackdaily.com/hong-kong-cracks-down-on-hk118m-crypto-linked-laundering-syndicate/