News Snapshot:
HONG KONG: Hong Kong customs officials said Thursday (Jul 15) they had dismantled a money laundering syndicate that used cryptocurrency to process around HK$1.2 billion (US$155 million) in illegal funds, in what they said was the first successful operation of its kind. "It is the first time in Hong Kong that a money-laundering ring involved in using cryptocurrency to wash dirty cash and conceal the source of criminal assets was broken up," Senior Superintendent Mark Woo Wai-kwan told reporters. Advertisement Advertisement Investigators said four men - including the alleged local mastermind of the syndicate - had been arrested and bailed...
