Hong Kong police have detained 69 individuals in a major operation targeting a criminal syndicate suspected of laundering approximately HK$200 million (US$25.5 million).
The suspects, aged between 18 and 60, are linked to cross-border investment fraud that has affected more than 170 victims.
Authorities stated that the syndicate utilized a network of mule accounts to obscure the origins of the illicit funds.
The operation represents a significant escalation in the territory's efforts to combat organized financial crime, particularly schemes that exploit the banking system to move money across borders.
The arrests come amid a broader crackdown on financial misconduct in Hong Kong.
Recent enforcement actions have included the detention of suspects in connection with a high-profile gold bar robbery at the city's airport and the prosecution of individuals attempting to smuggle narcotics through the same hub.