Two men convicted and jailed for money laundering about $18 million

     Two non-local men were convicted of money laundering about HK$18 million by using air parcels to cause to be imported a large quantity of undeclared cash into Hong Kong, in contravention of the Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance (CBNIO) and the Organized and Serious Crimes Ordinance (OSCO). The two men were sentenced to 28 months and 30 months imprisonment respectively at the District Court today (July 17).

     In February 2023, Hong Kong Customs intercepted an air parcel, declared as carrying clothes and books, arriving in Hong Kong from Korea, at Hong Kong International Airport. Customs officers seized a batch of undeclared foreign currency banknotes with a total value of about HK$1.2 million inside. Subsequently, the two non-local men were arrested in Tai Kok Tsui. Follow-up investigations revealed that the two men had repeatedly caused to be imported undeclared cash into Hong Kong to launder crime proceeds since December 2022. The total amount involved reached a total of about HK$18 million.

     Customs welcomed the sentence. The custodial sentence has imposed a considerable deterrent effect and reflects the seriousness of money-laundering offences.

     Under the CBNIO, a person commits an offence if he or she imports or exports, or causes to be imported or exported, in one batch a large quantity of CBNIs (i.e. the total value of which is more than HK$120,000) for which no declaration has been made. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for two years. Meanwhile, under the OSCO, a person commits an offence if he or she deals with any property knowing or having reasonable grounds to believe that such property in whole or in part directly or indirectly represents any person's proceeds of an indictable offence. The maximum penalty upon conviction is a fine of $5 million and imprisonment for 14 years while the crime proceeds are also subject to confiscation.

     Members of the public may report any suspected violation of the above-mentioned ordinances to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).