Hong Kong Police Crackdown Targets Money Laundering Syndicate Using Crypto Exchanges

Hong Kong police have dismantled a cross-border money laundering syndicate, seizing 118 million yuan in illicit funds. The operation targeted the group’s use of cryptocurrency exchanges to facilitate illegal transactions. This action emphasizes Hong Kong’s ongoing efforts to combat financial crime and misuse of cryptocurrencies. The crackdown involved 12 arrests and the seizure of funds processed through over 500 bank accounts between July 2024 and May 2025. The police force continues to implement measures to deter such activity, reinforcing Hong Kong’s reputation as a robust financial center.