Customs Seizes Illicit Cigarettes Worth HK$29m
"); jQuery("#212 h3").html("
"); });
2022-04-08 HKT 20:38
Share this story
Hong Kong Customs seized about 10.5 million suspected illicit cigarettes with an estimated market value of about HK$29 million at a logistics site in Tuen Mun on Friday. Two 28-year-old men were arrested.
The department said in a statement that officers found the cigarettes inside a 40-foot container at Lam Tei during spot checks.
They said the value of duties on such a cargo in Hong Kong would be about HK$20 million. Investigations are ongoing and authorities said further arrests could not be ruled out.
Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possessing, selling or buying illicit cigarettes is liable to a maximum fine of HK$1 million and imprisonment for two years.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more