POLICE are gearing up for a wide-ranging crackdown on previously untouchable crime lords, armed with sweeping new powers to fight triads and organised syndicates.
A new law aimed at getting tough with the laundering of criminal proceeds - including multi-million-dollar 'legitimate' investments made by triad gangs such as the Sun Yee On - is set to be passed next month.
As part of the force's preparations, two teams of detectives from the Narcotics Bureau's Financial Investigation Group (FIG) will be attached to the Organised Crime and Triad Bureau (OCTB) from this week. They will be targeting top triads and crime syndicates which have otherwise been out of reach, and zeroing in to seize their assets.
The Organised and Serious Crimes Bill, which has been under review for more than two years since it was first introduced in 1992, is due to go before the Legislative Council on October 12 for its second and final readings.
Legislator James To Kun-sun said the administration and an ad hoc committee set up to review the proposed bill had reached a consensus on the majority of its contents and predicted it would be accepted next month.
'We need this bill to pierce through the wall of silence of triad elements and syndicates,' he said.