[Hong Kong Police Disclose First Quarter Fraud Data, Losses Exceed HK$1.85 Billion] According to a report by HK01, Hong Kong Police Commissioner Raymond Siu disclosed that over 9,400 fraud cases were recorded in Hong Kong during the first quarter of this year, with losses exceeding HK$1.85 billion, an increase of nearly HK$300 million compared to the same period last year. Approximately 2,000 individuals were arrested for fraud and money laundering in the first quarter, with about 70% being holders of 'puppet accounts.' Hong Kong police remind the public that the maximum penalty for money laundering offenses is a fine of HK$5 million and imprisonment for 14 years.