The Hong Kong Customs and Excise Department smashed a money laundering syndicate and arrested four people suspected of using a number of shelf companies to receive a large number of overseas cross-border remittances and launder 1.50 billion Hong Kong dollars in virtual currency transactions. All of them are on bail pending investigation. About 2.20 million of their bank accounts have been frozen. Pan Yeqin, director of investigation at the Customs Organized Crime Bureau, said that they were...