HK$110m Worth Of Suspected Cocaine Seized
"); jQuery("#212 h3").html("

"); });
2022-03-26 HKT 14:24
The Customs Department said on Saturday that it had seized suspected cocaine with an estimated market value of about HK$110 million, and arrested two teenagers and a woman.
Vincent Lee, who heads the department's drug investigation group, said they became suspicious after X-raying an electric transformer shipped in from Costa Rica last month.
Authorities then disassembled the oil-filled object to find around 120kg of suspected cocaine inside metal compartments, before restoring the "transformer" for the delivery company to give it to the alleged drug syndicate.
Officers said the syndicate had changed the storage location several times, and it wasn't until around 20 days later that two teenage boys signed for the item in rural San Tin.
The pair, aged 14 and 15, were arrested on Thursday and have been charged over attempted drug trafficking. They will appear at the Fanling court on Monday.
A 49-year-old woman who said she worked for a logistics company was also arrested on Friday.
Lee said the pandemic has changed the way drug syndicates transport their goods, saying they now tend to transport drugs in bulk by sea or air due to travel restrictions.
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