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Jeffie Lam

Hong Kong police have seized 15 bank cards and arrested three mainland Chinese men on suspicion of working for a money-laundering syndicate and creating stooge accounts at different city banks.
Police on Saturday alleged the trio had followed instructions from the syndicate and created several accounts used to disguise the money’s origins.
The force said some of the cards were immediately handed on to syndicate members in exchange for a reward of about 3,000 yuan (US$418).
The cards, suspected to belong to the three as well as other people, were impounded as part of the operation, along with bank documents and mobile phones.
The force on Friday arrested the three – aged between 28 and 47 who all entered the city from Shenzhen through two-way permits – in Wan Chai for conspiracy to launder money after an investigation and intelligence analysis.
The three were still in custody on Saturday.

The force warned the public that the use of personal bank accounts or allowing accounts to be used by others for illegal purposes may constitute money-laundering.
The maximum penalty on conviction is 14 years behind bars and a fine of HK$5 million (US$641,506).
It also appealed to the public and financial institutions to report any suspicious accounts or bank transfers.
Police earlier this month arrested seven people for alleged involvement in a HK$100 million international money-laundering syndicate behind technical support scams.
The arrests were made after a joint operation with police officers from Singapore and Interpol.
Among those arrested for conspiracy to launder money were people alleged to be the mastermind, three members of the syndicate and three mules, aged between 33 and 43.


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Bank cards seized, 3 arrested in Hong Kong police operation targeting alleged money-laundering

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News

Hong Kong

Law and Crime

Police say alleged money launderers followed instructions from syndicate and created accounts designed to hide money’s origins


Hong Kong police

Crime

Singapore

Scams and swindles

Bank cards seized, 3 arrested in Hong Kong police operation targeting alleged money-laundering

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}Police say alleged money launderers followed instructions from syndicate and created accounts designed to hide money’s origins

Police say alleged money launderers followed instructions from syndicate and created accounts designed to hide money’s origins