"7 Arrested in $1.8 Billion Transnational Money Laundering Case in Hong Kong"

Hong Kong customs officials have arrested seven people in connection with the territory’s largest ever money laundering case, involving about $1.8 billion, some of which is linked to a scam case in India. The syndicate used shell companies and bank accounts to transfer large sums from overseas to the city under the guise of running international trading businesses. Authorities believe the syndicate received remittances from India in the name of exporting electronic devices, diamonds, gems, and precious metals, and then transferred the proceeds to bank accounts in Hong Kong for money laundering. The investigation, which involved cooperation between law enforcement in Hong Kong, India, and elsewhere, is ongoing.