06 Nov 2020
A 23-year-old Hong Kong police officer was among 11 people arrested on Thursday on suspicion of running a money-laundering syndicate involving more than HK$200 million (US$25.8 million) since last year.
The arrests of eight men and three women, aged 19 to 30, were made after the police force’s financial investigations division launched a probe upon receiving intelligence last month.
The officer from the emergency unit of New Territories South regional headquarters in Tsuen Wan and the other suspects had allegedly processed a total of HK$210 million in suspected crime proceeds between March last year and last month.
Transactions ranging from HK$5 million to HK$70 million were recorded in every bank account tied to the case.
A police spokesman said the officer had been suspended from his duties.
Officers seized a mobile phone and several laptops and bank cards during the operation. Some HK$760,000 in cash in a number of bank accounts was also frozen.
Police said they were investigating the connections among those arrested and their involvement in the crime, adding further arrests could not be ruled out at the moment.
Several active or retired police officers have been accused of involvement in money-laundering activities in recent years.
In August last year, a 72-year-old retired police sergeant was jailed for three years and nine months for masterminding an illegal horse racing and soccer betting scheme involving HK$101 million.
By Danny Mok, South China Morning Post, 5 November 2020
Read more at South China Morning Post
RiskScreen: Eliminating Financial Crime with Smart Technology
You can claim CPD minutes for this content, by signing up to our CPD WalletFREE CPD Wallet