Bank cards confiscated, three people arrested in Hong Kong police operation for suspected money laundering

The cards, which presumably belong to the three and other people, were confiscated as part of the operation along with bank documents and mobile phones.

Following an investigation and intelligence analysis, police arrested the three men – aged between 28 and 47, all of whom had entered the city from Shenzhen on round-trip permits – in Wan Chai on Friday on charges of conspiracy to launder money.

The three were still in custody on Saturday.

Police warned the public that using private bank accounts or allowing others to use such accounts for illegal purposes could constitute money laundering.

The maximum penalty if convicted is 14 years in prison and a fine of HK$5 million (US$641,506).

The panel also urged the public and financial institutions to report suspicious accounts or bank transfers.

Earlier this month, police arrested seven people for alleged involvement in a HK$100 million international money laundering syndicate behind tech support scams.

Among those arrested for conspiracy to launder money were the alleged masterminds of the incident, three syndicate members and three money couriers aged between 33 and 43.