Hong Kong joins forces with six local police to intercept HK$157 million in fraudulent funds, a money laundering group used virtual assets to launder approximately HK$118 million

ChainCatcher news, the Hong Kong Police Force, in collaboration with anti-fraud centers from multiple countries or regions, has established a cross-border anti-fraud cooperation platform "FRONTIER+" and from April 28 to May 28 this year, conducted its first joint operation with anti-fraud centers from six countries or regions including Macau, Singapore, South Korea, and Thailand, successfully arresting 1,858 individuals, freezing over 32,600 bank accounts, and intercepting HK$157 million in fraudulent funds.

The Chief Superintendent of the Commercial Crime Bureau of the Hong Kong Police Force, Wong Chan-yu, stated that Hong Kong recorded over 13,115 fraud cases in the first four months of this year, a 9% year-on-year increase, with the amount involved decreasing by about 30%. A money laundering group that has been active in Hong Kong and the mainland since last July used over 580 bank accounts and virtual assets to launder approximately HK$118 million. The police launched an operation on the 15th of last month and successfully arrested 12 individuals.