PANews reported on August 29 that according to Oriental Daily, Hong Kong law enforcement agencies launched anti-money laundering operations codenamed Wei Ge, Hei Nao and You Xia this month based on intelligence and analysis, smashing three money laundering groups and arresting 27 people, with a total amount of more than HK$300 million involved. The investigating police officer said that in March this year, the Hong Kong law enforcement agencies received an investigation request from the Singapore authorities, pointing out that more than 30 fraud cases occurred there, of which about 30 million yuan of fraudulent funds were transferred into puppet accounts in Hong Kong after multiple transfers. The investigating police officer pointed out that in order to evade investigation, a certain group used a large number of account transfers and multiple cash withdrawals to go to local virtual asset trading platforms to buy virtual currencies. The Hong Kong police also disclosed data that in the first half of this year, law enforcement agencies arrested 5,693 people for money laundering-related crimes, a 40% increase from the same period last year; 4,465 of them were puppet account holders, accounting for 78% of the arrested persons.