Hong Kong Customs detects first-ever money laundering case via transnational diamond trading
China DailyHONG KONG -- Hong Kong Customs on Thursday announced that it has smashed a large-scale transnational money laundering syndicate that had laundered about 500 million Hong Kong dollars, the first-ever money laundering case using transnational diamond trading detected by Customs. A Customs spokesperson told a press briefing that Customs officers targeted a suspected transnational money laundering syndicate, initiated a financial investigation, and engaged in intelligence exchange with Indian Customs early this year. The total amount of suspicious transactions reached 500 million Hong Kong dollars in the cited period. Additionally, Customs officers seized a large quantity of suspected synthetic diamonds, a small quantity of natural diamonds, foreign currency cash equivalent to about 1 million Hong Kong dollars, a number of mobile phones, computers, company chops, chequebooks, bank cards, bank documents and trading documents inside the arrestees' residential and commercial premises.
History of this topic
Hong Kong customs arrest 7 people in one of largest ever money laundering cases
The IndependentHong Kong customs arrests 7 in a $1.8 billion money laundering case linked to transnational crime
Associated Press)
Hong Kong Police Seize Record 700kg Cocaine Smuggled into City by Speedboats
News 18)
Delhi: I-T department raids premises of Chinese entities, associates with suspected hawala links for alleged money laundering
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