Hong Kong Customs dismantled a $1.79B money laundering operation, "Daybreak," involving a family-owned syndicate that laundered funds via transnational trade activities, leading to the arrest of seven people.

Hong Kong Customs has dismantled a large-scale money laundering operation involving about $1.79 billion, making it the largest case the agency has shut down in terms of tainted funds. The operation, known as "Daybreak," led to the arrest of seven people. The syndicate involved in the money laundering appeared to be family-owned and used transnational trade activities to launder funds through a large-scale operation center.

February 16, 2024
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