Hong Kong Police Seize Record HKD 2.75 Billion in Major Cross-Border Telecom Fraud Case

Hong Kong authorities have taken decisive action against an international telecom scam operation, intercepting approximately HKD 2.75 billion (USD 3.5 billion) in suspected criminal proceeds. The frozen assets encompass cash holdings, securities positions, and various fund transfers believed to be connected to an elaborate money laundering network spanning multiple jurisdictions.

Scale and Nature of the Investigation

The assets frozen by Hong Kong police represent one of the most significant enforcement actions against telecom fraud schemes in recent years. The operation uncovered what investigators describe as a sophisticated international syndicate dedicated to telecom fraud and financial crime facilitation. Though the formal investigation remains active and no suspects have been formally charged at this stage, authorities continue tracking the movement of illicit funds through multiple financial channels.

Key Developments

According to investigation reports, the criminal network maintains suspected connections to Cambodia-based operations, with allegations linking the scheme to individuals involved in the Prince Group. The Hong Kong police have methodically documented the asset seizure, cataloging multiple categories of frozen holdings including liquid cash reserves, equity portfolios, and digital fund transfers that experts believe originated from fraudulent activities.

Ongoing Operations

The enforcement action highlights Hong Kong police’s strengthened commitment to combating international financial crimes. The investigation team continues collecting evidence and analyzing transaction patterns to dismantle the broader criminal infrastructure. As the case develops, authorities expect to unveil additional details regarding the network’s operational structure and the full scope of victims affected by the telecom fraud scheme.