Yesterday (26th) Police Wealth Intelligence and Investigation Bureau detectives successfully cracked down on a criminal syndicate that used a virtual bank to accept illegal bets and launder money.
The police found that criminal groups set up overseas gambling websites, solicited gamblers on social networking sites, and solicited others to open virtual bank puppet accounts, and then laundered money through user account transfer transactions.
During the operation, the police arrested 5 men and 4 women, including cleaners and salespersons. One of them was a married couple.
The police are tracing the source and whereabouts of the funds, and it is not ruled out that more people have been arrested, and appealed to the public not to participate in any money laundering activities.
The police found that criminal groups solicited gamblers on social networking sites and solicited others to open virtual bank puppet accounts, and then laundered money through user account transfer transactions.
(Photo by Huang Weimin)
Criminals solicit others to open puppet accounts and then transfer transactions to launder money
The Acting Chief Inspector of the Police Wealth Intelligence and Investigation Division, Chen Xuelin, explained the facts of the case this morning (27th) that earlier detectives discovered that a criminal syndicate had set up overseas gambling websites to provide online gambling services, and received bets through virtual banks and quickly transferred them away. The proceeds of crime.
The group uses money to solicit others to open virtual bank puppet accounts, then solicit gamblers through social networking sites, and provide online casino services such as baccarat, mahjong and poker.
Chen Xuelin pointed out that when the gambler contacts the intermediary, the intermediary will assist the gambler to open an online casino account, and then provide a virtual bank account and collect money to exchange for gambling bets.
Group members opened a number of new personal virtual bank accounts, soliciting relatives, friends and others as puppet account holders to collect and launder money.
The group also has an operation center, which has a systematic and centralized operation of virtual bank accounts, conducts frequent transfer transactions, and hides the flow of funds to avoid police investigation.
9 police detained, including clerks, cleaners, arrested persons are married
After an in-depth investigation, the police found that the syndicate used 23 accounts to launder approximately $30 million in criminal proceeds from May last year to March this year.
As of yesterday (26th), the police arrested three key members of the group for money laundering and conspiracy to accept bets. They were suspected of manipulating puppet accounts and soliciting gamblers at the group operation center.
In addition, the police arrested 6 puppet account holders for money laundering in Hong Kong, Kowloon and New Territories.
A total of 9 people were arrested in the operation. They were between 23 and 62 years old. Among them, 8 held Hong Kong identity cards and 1 held a two-way permit.
The arrested persons reported that they were clerks, cleaners, construction workers, sales clerks and unemployed persons. Some of them were couples, relatives or friends, and three of them had triad background.
The Acting Chief Inspector of the Police Wealth Intelligence and Investigation Division, Chen Xuelin, explained the facts of the case that the police successfully cracked down on a criminal syndicate that used a virtual bank to accept illegal bets and launder money.
(Photo by Huang Weimin)
Police call card ATM card does not rule out more arrests
During the operation, the police seized 2 computers, 15 mobile phones, 45 phone cards, illegal betting records, bank withdrawal cards and documents.
The arrested person is still being detained for investigation. The police do not rule out more arrests and are now tracing the source and whereabouts of the funds.
The police reiterated that criminals used money to lure citizens to open accounts for money laundering. If citizens lend or sell accounts, the account holders may be guilty of conspiracy to launder money.
According to the Organized and Serious Crimes Ordinance, Chapter 455 of the Laws of Hong Kong, the maximum penalty upon conviction is 14 years’ imprisonment and a fine of 5 million yuan.
In addition, according to the "Gambling Ordinance" Chapter 148 of the Laws of Hong Kong, placing bets on betting bets is a crime, with a maximum imprisonment of 9 months, while betting is punishable by a fine of up to 5 million yuan and imprisonment for 7 years.
The police remind the public not to participate in any money laundering activities, and the police will continue to combat money laundering activities.
During the operation, the police arrested 5 men and 4 women, including cleaners and salespersons. Some of the arrested persons were couples and friends.
(Photo by Huang Weimin)
Information from the Consumer Council: 8 virtual banks in Hong Kong currently do not provide services such as cheques, mortgages, and investments
According to information from the Consumer Council, there are 8 virtual banks in Hong Kong that currently do not provide services such as cheques, mortgages, and investments. Although some virtual banks provide foreign exchange trading or loan services, they need to do so within a specified time.
In addition, four virtual banks currently provide physical or virtual debit cards. Generally, debit cards do not have an annual fee, but foreign currency transactions may charge a handling fee ranging from 1.8% to 1.95% of the transaction amount.
According to the information on the "Hong Kong Monetary Authority" website, virtual banks refer to banks that provide retail banking services mainly through the Internet or other forms of electronic transmission channels, rather than physical branches.
Virtual banks must comply with the same set of regulatory requirements applicable to traditional banks. Authorized institutions must comply with various requirements in the Banking Ordinance, including maintaining sufficient capital and liquidity, and submitting regular returns to the Monetary Authority.
Consumer Council｜Virtual Bank does not provide check deposits, 3 does not provide withdrawals, demand deposits, interest rates vary, and Consumer Council 8 virtual banks provide the most extensive services compared to ZA Bank?
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