Hong Kong customs seizes HK$104 million of gold in less than 5 months after fresh bust

Hong Kong customs has foiled another attempt to smuggle gold disguised as machine parts in a Japan-bound air consignment, seizing more than HK$104 million (US$13.3 million) of the precious metal in less than five months.

A source familiar with the case said on Thursday that customs officers were investigating whether the latest HK$7.5 million haul was linked to the previous two cases discovered in March and July, with seizures of HK$97 million worth of smuggled gold.

“The tactics used in the three smuggling cases are similar because gold was moulded and camouflaged as components and fixed into machines that were destined for the same destination [Japan],” the insider said.

“We believe the smuggling operations were designed to evade import tariffs of about 10 per cent for gold products in Japan.

“We don’t rule out the possibility that gold was turned into the shape of machine parts and assembled in the machines in the city.”

The source said customs would continue to exchange intelligence with Japanese authorities to combat such gold smuggling activities.