Hong Kong customs arrest four in first crypto laundering bust ...Middle East

HONG KONG: Hong Kong customs officials said Thursday they had dismantled a money laundering syndicate that used cryptocurrency to process some HK$1.2 billion (RM 648.6 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.Investigators said four men — including the alleged local mastermind of the syndicate — had been arrested and bailed while some HK$20 million (RM 10.8 million) had been frozen.The men opened various local bank a

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