Hong Kong police's "Operation Conquer" arrested 682 people and dismantled a money laundering gang involving 44 million Hong Kong dollars in virtual currency

According to Hong Kong 01, the Hong Kong police disclosed that over the past three weeks, they have launched a citywide law enforcement operation against fraud, cybercrime, and money laundering, codenamed "Operation Conquer," resulting in the arrest of 682 individuals for conspiracy to commit fraud, obtaining property by deception, and money laundering. This operation involved 580 fraud and technology crime cases, with a total amount of up to HKD 620 million.

Among them, in the law enforcement action codenamed "Cyber Web" by the Hong Kong Police Cyber Security and Technology Crime Bureau, a local online romance scam group was dismantled, along with a gang that used virtual currency for money laundering. This gang defrauded 314 victims of a total of HKD 44 million over the past 16 months, with an average amount of about HKD 150,000 per case.