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Hong Kong authoritiesWorking with police from continental China, they have Turn off the money laundering surgery that used the crypto currency and hundreds of fake bank accounts transfer about 118 million HK (approximately $ 15 million).
Investigation led to arrest 12 people May 15, nine men and three women, according to a Hong Kong Commerial Daily report report Posted on May 17th.
According to the Higher Inspector of Tse Ka-Lun from the Commercial Crime Office, many of Used bank accounts was opened by friends or relatives of those involved. This helped the group to avoid discovering while moving money through what was done by personal or low risk accounts.
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Two members of the group were monitored on the day of the operation while leaving the apartment, one headed to the bank branch and the other at the ATM. After withdrawing the money, they went to the cryptocurrency store at Tsim Sha Tsui to convert funds.
Officers stepped in before a transaction occurred and arrested them with about 770,000 HK (about $ 98,500). Police later arrested the other 10 suspects.
Search performed as part of the operation led to a recovery about 1.05 million HK (approximately $ 134,000)Together with more than 560 ATMs, mobile phones, banking paperwork and CRIPTO transaction records.
In addition, investigators had already had related to 9.4 million HK (more than $ 1.2 million) from surgery to 58 separate fraud cases.
On May 14, 17 people were arrested by European authorities for managing a crypto network that had been operating more than $ 23 million for other criminal groups. How did the case take place? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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