Hong Kong police crack down on HKD 230 million money laundering case, a mainland woman sentenced to 47.5 months in prison
According to HK01, the Hong Kong police have cracked a cross-border money laundering case. The group involved used 43 Hong Kong bank accounts to handle 34 fraud cases from June to September 2024, defrauding HKD 18 million and using cryptocurrency transactions to launder HKD 230 million in criminal proceeds. A 34 year old mainland woman who opened a puppet account to assist in the laundering of HKD 9.29 million in criminal proceeds and purchased cryptocurrency through a virtual asset exchange shop was sentenced to 47.5 months in prison. The Hong Kong police remind that assisting criminal groups in handling funds can face up to 10 years in prison, and money laundering can result in a maximum fine of HKD 5 million and 14 years in prison.
