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

[shri]

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/

[Trebor]

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.

[Trebor]

"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?

[sarsi]

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? 😗

[Elefant&Castle]

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

[shri]

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.

[shri]

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

[alexdown]

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

[Crankshaft]

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

[Elefant&Castle]

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