Hong Kong Customs cracks $4.7 billion money laundering case and dismantles dangerous drug packing and distribution centre
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Customs officers targeted a money laundering syndicate and initiated financial investigation against a 66-year-old local man. It was revealed that his financial background was highly incommensurate with the enormous transactions conducted in his company bank accounts. It is suspected that he had dealt with suspicious funds through local companies accounts and engaged in money laundering activity.
After an in-depth investigation, Customs officers raided a residential address yesterday and seized mobile phones and bank documents therein. During the premises search against the business address of one of the subject companies, Customs officers seized a bankbook counter, cash, bank cards, suspected dangerous drugs, including cannabis buds, cannabis oil products, cocaine, methamphetamine, ketamine, MDMA tablets and a batch of suspected drug packaging paraphernalia and inhalation apparatuses, about 9 000 duty-not-paid cigarettes and suspected nicotine oil. The estimated market value of the drug seizures was about $300,000. A 36-year-old local man was arrested.
Customs will conduct follow up investigation under the Organized and Serious Crimes Ordinance (OSCO), Dangerous Drugs Ordinance, Dutiable Commodities Ordinance and Pharmacy and Poisons Ordinance, the likelihood of further arrests is not ruled out.
Under the OSCO, a person commits an offence if he or she deals with any property knowing or having reasonable grounds to believe that such property, in whole or in part, directly or indirectly represents any person's proceeds of an indictable offence. The maximum penalty upon conviction is a fine of $5 million and imprisonment for 14 years while the crime proceeds are also subject to confiscation.
Members of the public may report any suspected money laundering activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Ends/Thursday, March 12, 2026
Issued at HKT 23:30
Issued at HKT 23:30
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