Hong Kong Police Arrest 147 in Triad Money Laundering Bust

POLICY WIRE — Hong Kong — Hong Kong police have arrested 147 individuals following the dismantling of an alleged triad syndicate suspected of laundering HK$600 million (US$76 million) through coordinated bank accounts.

The arrests were made during a citywide operation code-named “Rapidhorse” conducted over two days. Authorities believe the syndicate was involved in operating drug dens and illegal gambling establishments in Kowloon and the New Territories.

Police disclosed that the operation involved undercover detectives and significant resources to infiltrate and disrupt the syndicate’s activities. The investigation revealed the intricate network of account centers used to process — and launder illicit proceeds.

“This operation has significantly disrupted the financial operations of a major triad syndicate,” said a police spokesperson. “We’re committed to continuing our efforts to combat organized crime — and money laundering in Hong Kong.”

Further details about the arrested individuals and the specific charges they face are expected to be released in the coming days as the investigation progresses.

Reporting by Policy-Wire (PW)