Two Men Arrested In HK$100m Illicit Cigarettes Bust
"); jQuery("#212 h3").html("

"); });
2022-12-30 HKT 14:56
Customs officers said on Friday they’re continuing to cut off smugglers' attempts to transport illicit goods to Hong Kong by sea, a method that has become increasingly popular with many land routes cut off during the pandemic.
Officers said they busted an attempt to bring illicit cigarettes worth around HK$100 million into the SAR on Tuesday last week after finding the goods onboard a ship off the Yau Ma Tei Anchorage.
"As the land ports of entry are not fully reopened yet, most goods are shipped to Hong Kong by sea. Smugglers also followed the logistics trend, and tried to ship the illicit goods to Hong Kong by sea," senior inspector Tang Ka-chun said.
Yip Lap-man, a senior revenue investigator, said he believes some of the illicit cigarettes were bound for other places, adding that if legally imported, the contraband products would have generated HK$69 million in tax.
Two men, aged 43 and 56, were arrested in the operation.
EDENA Unveils AI System To Automate Sovereign Asset Settlement
At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more
Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls
Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more
Japans PayPay Files For US IPO, Targets Valuation Above US$10B
SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more
Inference Research Launches In Hong Kong With US$20M Seed Funding
Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more
London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion
London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more
SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership
SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more