Hong Kong and six other police forces intercepted HK$157 million in fraudulent funds. A money laundering group used virtual assets to launder about HK$118 million.

Mars Finance News: The Hong Kong Police Department, in collaboration with anti-fraud centers from multiple countries and regions, established a cross-border anti-fraud cooperation platform called "FRONTIER+" and conducted its first joint operation from April 28 to May 28 this year with anti-fraud centers from 6 countries or regions, including Macau, Singapore, South Korea, and Thailand. The operation successfully arrested 1,858 people, froze over 32,600 bank accounts, and intercepted 157 million Hong Kong dollars in fraudulent funds. Senior Superintendent Wong Chun-yu of the Commercial Crime Investigation Bureau of the Hong Kong Police Department stated that Hong Kong recorded over 13,115 fraud cases in the first 4 months of this year, a 9% year-on-year increase, with the amount involved decreasing by approximately 30%. A money laundering group that has been active in Hong Kong and mainland China since last July was found to have used over 580 bank accounts and virtual assets to launder approximately 118 million Hong Kong dollars. The police launched an operation last month and successfully arrested 12 people.