Hong Kong police arrested 682 people in a "planned attack" operation, dismantling a HK$44 million cryptocurrency money laundering syndicate.
TL;DR
Hong Kong police arrested 682 people in a three-week operation targeting fraud and money laundering, involving HK$620 million. A key operation dismantled a cryptocurrency money laundering syndicate that defrauded 314 victims of HK$44 million.
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Odaily Odaily reports that Hong Kong police disclosed a three-week citywide enforcement operation codenamed "Operation Scheme" targeting fraud, cybercrime, and money laundering. 682 people were arrested for conspiracy to defraud, obtaining property by deception, and money laundering, involving 580 cases of fraud and technology crimes, with a total amount involved reaching HK$620 million. Among these, an operation codenamed "Warnet" by the Hong Kong Police Cyber Security and Technology Crime Bureau dismantled a local online romance scam syndicate and a money laundering gang using virtual currencies. This gang defrauded 314 victims of HK$44 million over the past 16 months, averaging approximately HK$150,000 per case. (Hong Kong 01)