Helpers Getting Dragged Into Money Laundering: Police
"); jQuery("#212 h3").html("

"); });
2021-11-25 HKT 00:05
Police are warning that criminals are preying on foreign domestic helpers by offering them cash in exchange for access to their bank accounts, which are then used for money laundering.
They say gangs are contacting migrant workers, via social media or mobile phone mass messaging.
"Throughout our investigations, some of the [helpers] were approached through the social media and also sometimes some were approached by some strangers on their off day on the streets," said chief inspector Michael Lai from the force's financial intelligence and investigation bureau.
Another chief inspector from the bureau, Chan Chung-yan, said the money offered by the criminals was sometimes enough to persuade them to hand over their accounts, with gangs taking advantage of migrant workers’ lack of knowledge of Hong Kong law.
"A thousand or two thousand dollars actually accounts for quite a big proportion of a helper's salary, it's indeed quite attractive," Chan said.
Officers say that, of 43 people arrested in two recent operations, 34 of them were helpers.
The force says the number of arrests and prosecutions for money laundering both increased in the first nine months of this year compared to the same period in 2020, although the number of cases has dropped from about 840 to around 660.
People convicted of money laundering can be fined up to HK$5 million or jailed for up to 14 years.
Vietnam And South Korea Launch Cross-Border QR Payments
Vietnam and South Korea have launched cross-border QR payments that allow Korean users to pay merchants in Vietnam thro... Read more
WeChat Pay Integrates With Local QR Networks In 5 Asian Countries
WeChat Pay has integrated its service with national QR code networks in five Asian countries, simplifying cross-border ... Read more
Global Transition Finance Ecosystem Gains Momentum
The global transition finance ecosystem is gaining momentum. According to new research by the Hong Kong Institute for M... Read more
Banking Circle Taps PayGate To Ease KRW Cross-Border Payments Into South Korea
Global payments bank Banking Circle will now handle cross-border transactions and settlement flows for South Korean pay... Read more
Equinix AI Discovery Hub Opens In Hong Kong For Enterprise AI
Digital infrastructure company Equinix is partnering with Hewlett Packard Enterprise (HPE) to launch the Equinix AI Dis... Read more
Tencent, Alibaba Eye DeepSeek Stake As AI Startup Tops US$20B Valuation
Chinese tech giants Tencent and Alibaba are in discussions to invest in AI startup DeepSeek, The Information reported, ... Read more
