Operation Night Raid: Targeting Financial Crime
In a significant crackdown on cross-border financial crime, the Hong Kong police executed an operation named “Night Raid”, targeting a money laundering network that linked Hong Kong to Mainland China. This criminal syndicate allegedly operated by enlisting individuals from Mainland China, who were used as front holders to open bank accounts in Hong Kong. These accounts primarily facilitated the reception of funds generated from various fraudulent activities.
Details of the Operation
In total, the operation led to the arrest of 12 suspects and uncovered suspicious transactions amounting to a staggering HK$118 million.
Chief Inspector Law Yuen-san, from the Fraud Investigation Team of the Hong Kong Commercial Crime Bureau, detailed that between July 2024 and May 2025, over 500 bank accounts associated with the group were exploited to launder the illicit funds.
A portion of these transactions, specifically HK$10 million, has been traced back to the proceeds of 58 reported fraud cases, with victims collectively losing around HK$43.2 million due to these scams.
The laundered money was purportedly taken from banks and converted into cryptocurrency at virtual asset exchange locations, further complicating the tracing of the funds and aiding in the criminal scheme’s operations. This operation highlights the ongoing efforts of Hong Kong authorities to combat financial crime amidst the region’s unique position concerning global banking and cybersecurity.
