Hong Kong Police Busts a Major $15 Million Crypto Laundering Plot

Authorities in Hong Kong have arrested 12 individuals tied to a cross-border criminal syndicate. The group allegedly laundered over $15 million through cryptocurrencies and hundreds of fraudulent bank accounts. The Hong Kong Police Force (HKPF) announced that the suspects—nine men and three women aged between 20 and 40—were apprehended during coordinated raids across various districts. Hong Kong Uncovers Crypto Syndicate Running 550 Shell Accounts According to a South China Morning Post report, the syndicate allegedly funneled over HK$118 million ($15 million) source: https://beincrypto.com/hong-kong-syndicate-laundered-15-million-using-crypto/