Police dismantle alleged triad group that ran account centres to launder HK$600 million

Hong Kong police have arrested 147 people after uncovering a triad syndicate suspected of setting up centres to coordinate bank accounts and handle HK$600 million (US$76 million) in allegedly illicit proceeds.Police said on Sunday that they had conducted a citywide operation code-named “Rapidhorse” over the previous two days against the syndicate allegedly operating drug and illegal gambling dens in Kowloon and the New Territories.The operation involved undercover detectives, the force added.According to Auyeung Tak, an acting senior superintendent with the police’s Organised Crime and Triad Bureau, the syndicate had been operating drug- and gambling-related illicit activities in Hong Kong and attempting to launder the proceeds through local bank accounts.“Although the ringleader had remained behind the scenes and the core members had acted cautiously, police were still able to dismantle the syndicate,” Auyeung said.“Besides targeting drug and illegal gambling activities, we also managed to trace the criminal funds and dismantle the syndicate’s financial network from the top down.”