Svmuu News: The Financial Intelligence and Investigation Bureau of the Hong Kong Police Force, in collaboration with the Hong Kong Monetary Authority and the Hong Kong Association of Banks, jointly organized an “Anti-Money Laundering Exhibition.” Hong Kong Police Commissioner Zhou Yiming disclosed data showing that in the first quarter of this year, Hong Kong recorded more than 9,400 fraud cases, a decrease of about 60 cases compared to the same period last year; however, the amount of losses exceeded 1.85 billion Hong Kong dollars, an increase of nearly 300 million Hong Kong dollars compared to the same period last year. Approximately 2,000 people were arrested in the first quarter of this year in connection with fraud and money laundering cases, of whom about 70 percent were holders of “straw accounts.” The Hong Kong Police Force reminds the public that, under the law, a conviction for money laundering is punishable by a maximum fine of HK$5 million and up to 14 years’ imprisonment; in addition, the police may apply to the court for a harsher sentence depending on the circumstances. (HK01)