Hong Kong customs arrests 2 visitors after finding thousands of Taiwanese banknotes in parcel
- Parcel from South Korea declared as carrying clothing and books opened by officers at airport found to contain NT$4.5 million, source says
- Authorities tracking what they believe is money-laundering syndicate that mails illegal gains in foreign currency into city to be exchanged for Hong Kong dollars
Hong Kong customs officers are tracking a money-laundering syndicate after arresting two men on suspicion of smuggling thousands of Taiwanese banknotes worth NT$4.5 million (US$148,000) into the city.
A source familiar with the case on Tuesday said 4,500 banknotes, each worth NT$1,000, were concealed in four magazines contained in a parcel airmailed to the city from South Korea last Friday.
The insider said he suspected the money came from criminal activity and was sent to Hong Kong to be laundered.
“A preliminary investigation suggested the syndicate had airmailed more than 10 parcels carrying cash into the city from South Korea over the past two months,” the source said, adding it was not yet known how much money overall was involved.
The foreign currency was exchanged for Hong Kong dollars at two money exchange shops in Tai Kok Tsui and then handed over to the syndicate’s members, the insider said.
Mailing the cash into the city rather than transferring it through banks helped conceal the flow of the syndicate’s criminal proceeds, the source said, adding authorities were investigating the origin of the illegal gains, how it was generated and its final destination.