According to Odaily, Hong Kong police have launched an operation codenamed 'Kuang Ding' in the Sham Shui Po district to combat fraud and money laundering. In this operation, 100 individuals were arrested, most of whom were holders of puppet accounts. These individuals are implicated in laundering the proceeds from 82 fraud cases, involving a total of HKD 180 million. The largest case among these involved a cryptocurrency investment scam exceeding HKD 20 million.

Among those arrested, three men and one woman have been charged with obtaining property by deception and money laundering. They have already appeared in the West Kowloon Magistrates' Courts between the 7th and 18th of this month. The remaining individuals have been released on bail and are required to report to the police in June.