Hong Kong police arrest 147 in HK$600M triad money-laundering bust

Hong Kong police have arrested 147 people after uncovering a triad syndicate suspected of setting up centres to coordinate bank accounts and handle HK$600 million (US$76 million) in allegedly illicit proceeds. The force said on Sunday that it had conducted a citywide operation code-named 'Rapidhorse' over the previous two days against the syndicate allegedly operating drug and illegal gambling dens in Kowloon and the New Territories. The operation involved undercover detectives, according to police. Acting Senior Superintendent Auyeung Tak of the Organised Crime and Triad Bureau said the syndicate had been running drug- and gambling-related illicit activities in Hong Kong and trying to launder the proceeds through local bank accounts.

Auyeung said the ringleader had remained behind the scenes and core members had acted cautiously, but police were still able to dismantle the syndicate. 'Besides targeting drug and illegal gambling activities, we also managed to trace the criminal funds and dismantle the syndicate's financial network from the top down,' he said. The account centres were a key part of the laundering operation, coordinating transfers through local banks to obscure the source of the cash. The arrests mark a significant blow to the triad's financial infrastructure, showing how coordinated police work, including undercover operations and financial tracing, can take down organized crime networks that rely on layered laundering schemes.