 by uncovering a suspected money laundering case involving approximately $3.46 million.){kind=link}
29th May 2025 – (Hong Kong) Hong Kong Customs made a significant breakthrough yesterday (28th May) by uncovering a suspected money laundering case involving approximately $3.46 million. This discovery followed a thorough follow-up investigation into two unfair trade practice incidents flagged back in 2022, leading to the apprehension of two local individuals believed to have ties to the illicit activities.
The investigation initially began in mid-2022 when Customs first identified and addressed two cases of unfair trade practices, resulting in the arrest of a local man. Subsequently, in July 2023, this individual was found guilty of engaging in deceptive commercial practices related to the sale of dating technique training services, contravening the Trade Descriptions Ordinance. As a consequence, he received a sentence of 160 hours of community service.
Further probing into the financial activities of the convicted individual unveiled a series of dubious transactions, suspected to be proceeds of criminal activities, transacted through his personal bank accounts. Concurrently, investigations revealed that another local man facilitated the transfer of these suspected illicit proceeds, totalling around $3.46 million, through his personal bank accounts between April 2020 and February 2025.
In response to these findings, Hong Kong Customs took swift action, arresting the two local suspects, aged 26 and 35, yesterday under charges of “dealing with property known or reasonably believed to represent proceeds of indictable offences,” commonly known as money laundering under the Organized and Serious Crimes Ordinance (OSCO). The authorities conducted searches at their residences in Tsuen Wan, Tsing Yi, and Quarry Bay, resulting in the seizure of two mobile phones, a computer notebook, and a collection of banking documents.
Subsequently, the arrested individuals have been released on bail as investigations continue. The case remains under active scrutiny, with the possibility of additional arrests not being ruled out.
Under OSCO regulations, individuals found dealing with property suspected to represent the proceeds of indictable offences face serious charges. Upon conviction, offenders may face a maximum penalty of a $5 million fine and up to 14 years of imprisonment, with the confiscated crime proceeds subject to confiscation as well.