Through active cooperation with the banking industry, the Hong Kong Police targeted a cross-border money laundering syndicate active in Hong Kong and the Mainland and launched the arrest operation code-named "Sink Strike". During the operation, the police arrested 11 men and 3 women, aged between 23 and 50, for "conspiracy to launder money", involving more than HK $18 million. After analyzing the flow of funds, the police found that the suspects used local bank accounts and conducted cryptocurrency transactions to launder up to HK $231 million between June and September this year. Lo Wan-shan, Chief Inspector of the Fraud Investigation Unit of the Commercial Crime Bureau of the Hong Kong Police, said that since August this year, through the analysis and in-depth investigation of suspicious bank accounts in collaboration with banks, it was found that cross-border syndicates were suspected of using 43 local accounts to collect 34 cases of fraud from various scams in Hong Kong from June to September this year, including job scams, telephone and investment scams, with a total amount of HK $18 million.