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      Ministry of Public Security: Mainland and Hong Kong police jointly dismantle cross-border underground bank gang, arresting over 170 people

      PANews reported on October 1, citing Xinhua News Agency, that in May this year the Ministry of Public Security directed and deployed public security authorities in Guangdong and other regions, together with Hong Kong police, to carry out a concentrated and unified arrest operation, dismantling a cross-border underground bank criminal gang entrenched in Guangdong and Hong Kong. A total of more than 170 criminal suspects were arrested, over 15 million yuan in funds involved in the case were frozen, and various assets involved in the case worth about 170 million Hong Kong dollars were seized. The gang set up shell companies in the mainland and Hong Kong, and built illegal fund transfer channels through means such as domestic and overseas "matching," false trade, cash and gold smuggling, and virtual currency transactions, providing cross-border fund transfer services for crimes such as gambling and fraud.


      Source: PANews
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