Hong Kong police have arrested 147 people after dismantling a triad syndicate suspected of setting up centres to coordinate bank accounts and handle HK$600 million (US$76 million) in allegedly illicit proceeds.
Police said on Sunday that they 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, the force added.
Acting senior superintendent Au Yeung Tak of the organised crime and triad bureau said the syndicate had been operating illicit drug and gambling-related activities in Hong Kong and attempting to launder the proceeds through local bank accounts.
“Although the ringleader had remained behind the scenes and the core members had acted cautiously, police were still able to dismantle the syndicate,” Au Yeung said.
“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.”