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Hong Kong police arrest 147 in triad-led money-laundering probe

Police say the alleged syndicate used local bank accounts to process HK$600 million in illicit proceeds over a two-day operation.

Reported · Written up by our desk · Asia

Hong Kong police have arrested 147 people after uncovering a triad syndicate suspected of setting up centres to coordinate bank accounts and handle HK$600 million, or about US$76 million, in allegedly illicit proceeds, according to SCMP Economy.

Police said they carried out a citywide operation over the prior two days, code-named Rapidhorse, targeting the syndicate suspected of running drug and illegal gambling dens in Kowloon and the New Territories.

An acting senior superintendent with the police’s Organised Crime and Triad Bureau, Auyeung Tak, said the group had been involved in drug- and gambling-related activities in Hong Kong and attempted to launder proceeds through local bank accounts, despite a ringleader staying behind the scenes.

SCMP Economy reports Auyeung said police were still able to dismantle the syndicate even though core members allegedly operated cautiously.

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