Five of them were core members of the syndicate, and the rest were holders of stooge bank accounts. The premises were used for keeping their crime proceeds, and police seized about HK$600,000 in cash there. Investigations found that the arrestees used at least 52 bank accounts to launder over HK$124 million between last October and this August. Police added they are now actively investigating the whereabouts of other crime proceeds. Police also remind citizens not to rent or sell their bank accounts, securities accounts, or accounts on other payment platforms to handle sums and assets of unknown origin.

Source: The Standard August 26, 2023 17:39 UTC