Police Make HK$170mn Drugs Bust In Fanling

"); jQuery("#212 h3").html("

"); });
2020-08-30 HKT 16:09
Police said on Sunday that they had seized various illegal drugs including heroin, ice and ketamine worth a total of around HK$170 million after raiding a factory unit in Fanling.
Officers said the drugs were hidden inside drink bottles stored at the site.
Two men, aged 27 and 33, were arrested.
A superintendent from the Narcotics Bureau, Raymond Chou, said there has been a surge in the number of drugs busts this year, describing the situation as "worrying".
"During the pandemic, drug prices have risen, we have observed such a situation. It may cause drug dealers to smuggle more drugs at a time and increase the number of large seizures," he said.
As an example, Chou said police had seized 340 kilogrammes of ice in the first half of this year, more than 20 times the amount they found during the same period last year.
Future Fintechs Hong Kong Subsidiary Seeks VASP And Asset Management Licenses
Future Fintech, a financial and digital technology services provider, announced that its wholly owned Hong Kong subsidi... Read more
Can Regulation Scale With Innovation? Inside The Stablecoin Plans Of HK And The U.S.
Back in 2022, stablecoins were still an emerging topic. Yet, they stirred enough flurry for the Hong Kong Monetary Auth... Read more
Cyberport Start-ups Forge Regional Fintech Ties At MyFintech Week 2025 In Malaysia
Cyberport led a delegation of its fintech start-ups to MyFintech Week 2025 (MyFW 2025), held in Kuala Lumpur from 4 to ... Read more
Hong Kongs Stablecoin Law Triggers Industry Concerns Over KYC Rules
Hong Kong’s newly implemented stablecoin law, in effect since 1 August, has sparked concern among some in the industr... Read more
Stopping Fraud At The Gate: The New Imperative For Registration & Transaction Monitoring
The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and al... Read more
Hong Kong Private Banks See 14% Growth, Hire 400 More Wealth Managers
Hong Kong’s private banking and wealth management sectors are poised for further growth in hiring and office expansio... Read more