[Hong Kong Police Dismantle Cryptocurrency Money Laundering Syndicate, Arrest 22; HK$150 Million Involved in 3 Months] According to Hong Kong media Ming Pao, Hong Kong police have dismantled a cross-border criminal syndicate that used over-the-counter (OTC) cryptocurrency trading to launder money, arresting 22 people, including 21 men and 1 woman, aged between 21 and 54. Police investigations revealed that the syndicate had been active since August this year, recruiting mainland residents to open sham bank accounts in Hong Kong to withdraw cash proceeds from crimes, and then transferring the funds to the syndicate's OTC cryptocurrency shops. The syndicate laundered funds through buying and selling cryptocurrencies. Police estimate that the syndicate was involved in laundering over HK$150 million between August and October this year alone.