Customs arrest four in $2.6b money laundering bust

Mobile phones, computers, company and bank documents, and bank cards were seized.

Customs officials arrested four members of a local money laundering syndicate suspected of making use of multiple company bank accounts to launder money amounting to $2.6b.

Customs officers targeted a money laundering syndicate early this year and initiated a financial investigation. It was revealed that the syndicate had received suspicious funds through three local companies between August 2023 and January 2025.

The Hong Kong Customs then mounted an operation, codenamed ‘Glitters’, between 26 August and 15 September. Three local males and one local female, aged between 25 and 56 and suspected to be connected with the case, were arrested for "dealing with property known or reasonably believed to represent proceeds of an indictable offence" (commonly known as money laundering) under the Organized and Serious Crimes Ordinance (OSCO). They were believed to be two masterminds and two core members of the syndicate.

During the operation, Customs raided multiple premises in Hong Kong, including multiple residential premises and commercial units. A batch of items suspected to be connected with the case, including mobile phones, computers, company and bank documents, and bank cards, was seized. Customs also arranged to freeze assets totalling $2.5m held by the suspects.  

The investigation is ongoing. The four arrestees have been released on bail pending further investigation, and the likelihood of further arrests is not ruled out.

Under the OSCO, a person commits an offence if he or she deals with any property knowing or having reasonable grounds to believe that such property, in whole or in part, directly or indirectly represents any person's proceeds of an indictable offence. The maximum penalty upon conviction is a fine of $5m and imprisonment for 14 years, whilst the crime proceeds are also subject to confiscation.