The Hong Kong police dismantled a money laundering syndicate using cryptocurrency exchanges, processing 118 million yuan in illicit funds. This operation highlights ongoing anti-fraud enhancements in Hong Kong.
On May 17, 2025, a significant raid arrested twelve individuals, emphasizing the police's commitment to preventing financial crime and enhancing Hong Kong’s reputation as a resilient financial hub.
The crackdown reflects a rising trend of cryptocurrency use in illegal activities, prompting stricter oversight on crypto exchanges and ongoing improvements in anti-money laundering protocols.
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