[Ministry of Public Security: Mainland China and Hong Kong police dismantle cross-border underground banking operation, arrest over 170 people] Reported by Jinse Finance, on September 29, according to information from Chang'an Street Zhishi, the Ministry of Public Security announced that in May this year, mainland public security authorities, in collaboration with Hong Kong police, conducted a concentrated operation to dismantle a cross-border underground banking criminal syndicate operating in Guangdong and Hong Kong. Over 170 suspects were arrested, with more than 15 million yuan in funds frozen and assets worth approximately 170 million Hong Kong dollars seized. Investigations revealed that the syndicate established shell companies in mainland China and Hong Kong, using methods such as domestic and overseas "mirror transactions," fake trade activities, cash and gold smuggling, and virtual currency transactions to create illegal channels for fund transfers. These channels were used to facilitate cross-border fund transfers for crimes such as gambling and fraud, involving a significant amount of money. The Ministry of Public Security stated that it will continue to deepen law enforcement cooperation with Hong Kong police to combat cross-border economic crimes and safeguard the economic and financial order of the Guangdong-Hong Kong-Macao Greater Bay Area.