Smugglers Swap Speedboats For River Vessels: Customs
"); jQuery("#212 h3").html("

"); });
2021-11-12 HKT 12:46
The Customs and Excise Department on Friday said smuggling syndicates appear to have changed tactics after a recent crackdown by the authorities and are using river trade vessels instead of speedboats to sneak goods across the border.
Officers said they intercepted a vessel carrying 17 containers bound for Zhuhai in the early hours of last Friday after being tipped off.
They found hidden compartments at the bottom of two empty containers where the alleged smuggled goods were stored.
Detectives raided a container yard in San Tin on the same day in connection with the case, where they also found five modified containers - one already with goods hidden inside.
Cheng Tak-hei, from Customs' syndicate crimes investigation bureau, said it appears that syndicates have stopped using fishing boats or speedboats to smuggle goods.
"After a series of crackdowns, smuggling syndicates changed their modus operandi recently and have started using river trade vessels. They use containers that are declared to be carrying cheap goods as a disguise, but smuggle high-value goods in bulk to the mainland," he said.
Customs said the various goods seized in the recent operation included bird's nest, abalone and cameras, with the haul worth around HK$63 million. Three people were arrested.
ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education
ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more
Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets
The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more
Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation
Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more
MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending
MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more
Why The $2 Trillion Stablecoin Prediction Is Too Low
McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more
RedotPay Eyes US IPO With Potential US$1 Billion Raise
RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more