PANews May 17 reported that according to Hong Kong Commercial Daily, the Hong Kong police launched an operation codenamed 'Night Strike' to dismantle an active money laundering cross-border criminal group operating between Mainland China and Hong Kong. The involved money laundering group recruited people from the Mainland to open bank accounts in Hong Kong to benefit from scam cases, and then arranged for them to withdraw cash from the bank, which was taken to virtual asset exchange shops to convert into cryptocurrency for money laundering. During the operation, 12 men and women were arrested, involving criminal proceeds of 118 million HKD.
Chief Inspector Luo Yuanshan of the Hong Kong Commercial Crime Bureau's Fraud Investigation Division stated that during the period from July 2024 to May 2025, the criminal group recruited individuals from the Mainland to act as puppet account holders. The accounts were mainly used to receive criminal proceeds from various types of scam cases. During this time, over 500 bank accounts were used to launder 118 million HKD. Among them, 10 million HKD has been confirmed to belong to part of the criminal proceeds from 58 reported scam cases, in which victims suffered losses of about 43.2 million HKD.