The Hong Kong police detained 12 participants in the international scheme for laundering money through cryptocurrencies using more than 500 fictitious bank accounts. Violators managed to wash 118 million Hong Kong dollars ($ 15 million), law enforcement officers said.

The police detained nine men and three women in mainland China and Hong Kong. These people were accused of recruiting dropper – to open bank accounts to receive money collected on them. These funds were converted into digital assets through cryptocurrency exchangers. The detainees rented a dwelling in the Mong Cock area in Hong Kong. Of the washed $ 15 million, more than $ 1.2 million are associated with 58 registered cases of fraud, law enforcement officers said.

The police led behind the suspects observation until the moment when two people left the room in Mong Coke. One went to the bank, and the other to the ATM. Then the men went to the crypto exchanger in the area of ​​Tsim Sha -Tsui. The police detained both on the spot, removing 770,000 Hong Kong dollars from them in cash (about $ 98,540).

Soon after, ten more people aged 20 to 41 were arrested. Law enforcement officers confiscated 1.05 million Hong Kong dollars ($ 134,370) in cash, more than 560 bank cards, several mobile phones and recordings related to cryptocurrency transactions.

The Bureau of Combating Commercial Crimes of Hong Kong reported that the detainees often used the bank accounts of their friends and family members to launder stolen funds. Last year, the number of cases of fraud in Hong Kong increased by 12%, and the authorities produced more than 10,000 arrests. Of these, 73% were on violators who had fictitious bank accounts.

In April, the Hong Kong Securities and Futures (SFCs) commission submitted new rules for cryptocurrency exchanges providing stakeing services. Recently, the Bureau of Cybersecurity and the fight against technological crimes of Hong Kong (CSTCB) announced a tool to track suspicious transactions with cryptocurrencies.