Officials in Hong Kong have apprehended two persons suspected of conducting money laundering through a crypto exchange and several bank accounts.
Regulators continue to pursue such criminal players, and market analysts suggest even tighter rules in 2022.
Hong Kong Customs authorities have apprehended two persons suspected of laundering over $380 million through personal bank accounts and a crypto trading platform. The pair was a woman aged 28, along with her brother aged 21. Authorities arrested them in the residential district of Yau Tong following an anonymous intelligence report.
The said money laundering scheme took place between May and November 2020, when the suspects opened several accounts in different banks across Hong Kong. One of these was an online bank account. The two also opened an account at an unnamed crypto exchange platform. Thereafter, they moved funds through cash deposits, bank transfers, and crypto transactions. Authorities say they were arrested on the ground
