Police smash triad syndicate laundering $600m, arresting 147

Police arrested 147 individuals and dismantled a syndicate laundering over HK$600 million in crime proceeds during a two-day crackdown on triad activities.

Officers raided multiple illegal premises, arresting 93 men and 54 women on suspicion of offenses including money laundering, operating illegal gambling dens, and running drug dens.

Investigations revealed that the syndicate had been using stooge accounts to launder the illicit funds since January last year. The funds were gained from operating gambling and drug dens across Kowloon and the New Territories, while the syndicate was also involved in drug trafficking.

The syndicate allegedly purchased bank accounts from drug addicts and gamblers to facilitate frequent online money transfers. Certain members were assigned to break down the illegal proceeds into smaller sums before depositing them into these stooge accounts. 

The funds were then channeled and consolidated through various accounts before ultimately being transferred into the bank accounts of the mastermind's relatives.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓