On July 15, Hong Kong Customs held a press conference to report that it detected the first case of money laundering by a money laundering group using virtual currencies.
On July 8, Hong Kong Customs took a law enforcement action codenamed "Cracking Money" to dismantle a suspected money laundering syndicate and arrested 4 people.
After preliminary investigation by the Hong Kong Customs, it is believed that the amount involved in the case exceeded HK$1.2 billion and four men were arrested.
The Hong Kong Customs also seized a large number of computers, mobile phones, bank security devices, company registration documents, bank statements and cheque books at the search location, and frozen bank deposits of 20 million yuan.
Hong Kong Customs stated that the case is still under investigation and it does not rule out that more people were arrested.
(Reporter Liang Yuan produces Zhou Jing)
Editor in charge: [Ye Pan]