Hong Kong police said they arrested seven current and former bank employees over an alleged $810 million international money-laundering syndicate – the largest probe of its sort in nearly a decade.
«It's the largest case we have busted in recent years,» said a superintendent of the local police’s crime bureau, adding that it was the first time that local bank staff had been arrested for involvement in money laundering.
«Police have brought the suspected lawbreakers in the local financial system to justice with this operation.»
Police declined to name the banks that employed those arrested.
International Op
According to the Hong Kong police, the seven arrested individuals assisted a key Hong Kong-based member of the syndicate by setting up at least 14 business accounts between 2017 and 2018, falsifying company documents and coaching applicants for interviews.
Accounts were opened under 16 names of people from mainland China and Belgium with money traceable to foreign countries like inlay, Germany and Vietnam.
Around $1 million was physically seized at the home of one of the arrested individuals, police added.
Laundering Probe Frenzy
Laundering probes by the Hong Kong police have been increasingly spotlighted in media headlines especially after self-exiled lawmaker Ted Hui publicized HSBC’s decision to comply with authorities and freeze his and his family members’ accounts. The move resulted in backlash from British politicians and eventually an emailed apology from the bank’s CEO Noel Quinn.
More recently, police arrested ten domestic helpers and a local resident over alleged laundering of swindled money totaling HK$2 million ($260,000) obtained from an online romance scam.
