Like Tree16Likes

HK$6 billion "discreet wealth transfer" ...

Reply
Page 1 of 2 1 2 LastLast
  1. #1

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    44,925

    HK$6 billion "discreet wealth transfer" ...

    And some of us get a call from the bank(s) to verify that we scratched our arses at 8:23AM...

    During the police’s operations,57 bank accounts with 7,600 transactions of the criminals were investigated. A total of HK$6 billion was confirmed to have been laundered, with the largest single transaction involved being HK$31 million.
    Also.. new fax machines ordered..

    "Customs will strengthen the communications with banks and regulatory bodies to combat illegal activities, including money laundering," officers said.
    https://www.thestandard.com.hk/break...tion/4/199351/

  2. #2

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    4,701

    How the feck did they manage to get that many accounts open in the first place. Can only suspect they had some people on the inside of these banks.

    Mrs. Jones and Crankshaft like this.

  3. #3

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    4,701
    "This case was made more difficult for law enforcement as the criminals rented a residential flat - which had a security guard and the need for a password to enter - as the money laundering headquarters, " said Customs officers.
    How long did you think it took them to realise they should probably apply for a search warrant instead of having to guess the password?

  4. #4

    Join Date
    Sep 2022
    Posts
    850

    I was at this point too .. they should have..but I also thought they don't need one to enter and arrest.. which means wat.. security guard didn't play ball rightaway? 😗


  5. #5

    Is that "kkk" headwear a curtesy the offer? Don't see it in other countries.

    Name:  Screenshot 2023-01-18 at 5.50.08 AM.png
Views: 584
Size:  375.1 KB


  6. #6

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    44,925
    Quote Originally Posted by Trebor:
    How long did you think it took them to realise they should probably apply for a search warrant instead of having to guess the password?
    Now we know folks... Don't bother with WeWork .. rent an apartment which has a security guard and password.

  7. #7

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    44,925

    From the SCMP ..

    He said most of the illegal funds were transferred into the accounts controlled by the syndicate from 800 third-party individual accounts and 2,000 business accounts. “The money was then laundered through the 57 accounts to create extra layers of transactions to conceal the origins and flow of the proceeds of crime,” Yeung said.

    He added that the funds were then transferred out of the 57 accounts to another 500 third-party individual accounts and 380 business accounts within the same day or over a short period after the deposits, in a “traditional money-laundering tactic”.
    South China Morning Post: Hong Kong housewife allegedly ran HK$6 billion money-laundering syndicate.


    https://www.scmp.com/news/hong-kong/...-others-record

  8. #8

    Join Date
    May 2012
    Posts
    1,128

    HK authorities prosecuting money laundering! What have this city turned into


  9. #9

    Join Date
    Dec 2019
    Posts
    539

    Fkn banks probably part of it. What was that documentary about HSBC and money laundering?


  10. #10

    Would be interesting to know where the dirty money is from - not a word about that. Just housewives and unemployed persons making suspicious transfers.


Reply
Page 1 of 2 1 2 LastLast