Hong Kong News
Nonpartisan, Noncommercial, unconstrained.
Saturday, Dec 21, 2024
Real, Diverse, Unbiased.
Two arrested for smuggling New Taiwan Dollars worth HK$1.2 million
Two non-local men were arrested in Tai Kok Tsui for smuggling foreign cash worth about HK$1.2 million from South Korea, hidden in an air package declared to be carrying clothes and books.
Customs inspected the air package at the airport last Friday (Feb 17) via X-ray screening and found a huge amount of foreign currency valued at about HK$1.2 million placed in between the pages of four books and magazines.
After investigation, customs arrested the two non-local men, aged 48 and 51, at an industrial building in Tai Kok Tsui yesterday (Mon) for importing currency without making declarations, in violation of Cap 629 Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance.
Officers also revealed that the two arrived in Hong Kong not long ago and were planning to collect and exchange the cash, mostly in New Taiwan Dollar, into Hong Kong dollar before distributing to others.
Customs reminded that under the law, people need not to make declaration if the amount of cash doesn't exceed HK$120,000.
Investigations are ongoing and customs said more arrests may be made. Officers added they are also investigating if the sum is related to any crime proceeds.
If anyone is found handling crime proceeds, customs will seek legal advice from the Department of Justice first before initiating prosecutions, officers noted.
After investigation, customs arrested the two non-local men, aged 48 and 51, at an industrial building in Tai Kok Tsui yesterday (Mon) for importing currency without making declarations, in violation of Cap 629 Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance.
Officers also revealed that the two arrived in Hong Kong not long ago and were planning to collect and exchange the cash, mostly in New Taiwan Dollar, into Hong Kong dollar before distributing to others.
Customs reminded that under the law, people need not to make declaration if the amount of cash doesn't exceed HK$120,000.
Investigations are ongoing and customs said more arrests may be made. Officers added they are also investigating if the sum is related to any crime proceeds.
If anyone is found handling crime proceeds, customs will seek legal advice from the Department of Justice first before initiating prosecutions, officers noted.
