Customizeds’ first-ever conviction of cash laundering by ways of cross-boundary transport of big amount of currency and bearer flexible instruments by travelers
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2 regional ladies were founded guilty of “dealing with property known or believed to represent proceeds of indictable offence” (typically called cash laundering) of about HK$ 280 countless profits of criminal activity by ways of cross-boundary transport of big amounts of money to Hong Kong, in breach of the Organized and Serious Crimes Ordinance (OSCO), and were sentenced to 58 months’ and 36 months’ jail time respectively at the District Court today (May 7). This is the first-ever conviction of cash laundering by methods of cross-boundary transport of big amounts of currency and bearer flexible instruments by guests considering that the Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance entered into operation in July 2018.
The 2 accuseds were discovered to have actually often carried a big amount of money to Hong Kong by means of limit control points in between 2018 and 2019. Follow-up examinations exposed that they were thought to have actually handled an overall of about $280 countless profits of criminal activity. Customs apprehended the duo at the Lok Ma Chau Spur Line Control Point in September 2019 and officially charged them with 4 counts of cash laundering in April 2023.
Custom-mades invites the sentences. The custodial sentences have actually enforced a significant deterrent result and show the severity of cash laundering offenses.
Under the OSCO, an individual dedicates an offense if she or he handles any residential or commercial property understanding or having sensible premises to think that such residential or commercial property, in entire or in part, straight or indirectly represents anybody’s profits of an indictable offense. The optimum charge upon conviction is a fine of $5 million and jail time for 14 years, while the criminal offense earnings are likewise based on confiscation.
Members of the general public might report any presumed infraction of those regulation to Customs’ 24-hour hotline 182 8080 or its devoted crime-reporting e-mail account (crimereport@customs.gov.hk) or online kind (eform.cefs.gov.hk/ form/ced002).