In a recent bust of a money laundering case involving cryptocurrencies, Hong Kong authorities have arrested four people. Reportedly, the suspects have laundered a massive HK$1.2 billion ($150 million) funneled through bank accounts in Singapore over the last 15 months.
Taking note of this, the Hong Kong Customs had launched operation “Coin Breaker” last week on July 8. Senior Superintendent Mark Woo Wai-kwan of customs’ syndicate crimes investigation bureau said:
“It is the first time in Hong Kong that a money-laundering ring involved in using cryptocurrency to wash dirty cash and conceal the source of criminal assets was broken up”.
Wai Kwan also noted that the nature of the scam and its execution has made it even more difficult to trace. The alleged mastermind was controlling three shell companies to launder this money. The authorities have thus frozen HK$20 million in suspicious bank accounts believed to be a part of these criminal proceeds.
A Fifteen Month Long Scam
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Źródło: https://coingape.com/crypto-scam-hong-kong-authorities-busts-hk1-2-billion-crypto-laundering-arrests-four/