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Hong Kong Police: Over 2,000 people arrested in the first quarter of this year for fraud and money laundering, with 70% involving "puppet accounts"

MarsBitNews
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Mars Finance News, the Hong Kong Police Force's Crime Intelligence and Investigation Branch, in collaboration with the Hong Kong Monetary Authority and the Hong Kong Association of Banks, jointly organized the "Anti-Money Laundering Exhibition." Hong Kong Police Commissioner Chow Yiming revealed data stating that in the first quarter of this year, Hong Kong recorded over 9,400 scam cases, a decrease of about 60 cases compared to the same period last year, but the losses exceeded HKD 1.85 billion, an increase of nearly HKD 300 million from the same period last year. In the first quarter, approximately 2,000 people were arrested related to scam and money laundering cases, with about 70% being "puppet account" holders. Hong Kong police remind that, according to the law, money laundering offenses can be punished with a maximum fine of HKD 5 million and 14 years of imprisonment upon conviction, and additional penalties may be applied by the court depending on the circumstances.
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