Anti-money laundering nets 33 persons
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Police have arrested a total of 33 persons across the territory during an operation codenamed "Quickliner" jointly mounted by the Commercial Crime Bureau and Narcotics Bureau against money laundering activities involving $288 million.

The arrestees, comprising 15 men and 18 women aged between 24 and 76, were arrested in connection with three money laundering cases involving a number of remittance agents.

Among them, 11 men and 13 women were allegedly laundered $44 million between April 2006 and January 2007 via the bank account of a local company set up in September 2005.

In the second case, two men and five women allegedly used their personal bank accounts to facilitate the transfers of $155 million from unknown sources in April 2002.

In the third case, two men were suspected to have used their company accounts to launder $89 million from unknown sources between June and September 2008.

The arrested persons have been released on bail pending further enquiries.

Police remind members of the public not to deal with any money from unknown sources or for unknown purposes whether for reward or not. The maximum penalty for money laundering upon conviction is 14 years' imprisonment and a fine of $5 million.

Remittance agents should also ensure that all relevant laws and requirements are observed to avoid committing money laundering offences. Any person who fail to register as a remittance agent with Police will be subject to fine and six months' imprisonment while any person who fail to keep proper records will be subject to a fine and three months' imprisonment.

Police Report No. 5
Issued by PPRB
Ends/Wednesday, September 17, 2008
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