Hong Kong blocks largest-ever gold bar smuggling operation

Hong Kong, March 12: Hong Kong Customs has uncovered the largest ever haul of smuggled gold bars, hidden in packages declared as toys, hats and other equipment.
The South China Morning Post reported on March 12 that Hong Kong customs had just discovered the largest gold bar smuggling case ever, with gold worth 46 million HKD (150.8 billion VND) in a package intended to be sent by air to Japan.
Officers from the Hong Kong Customs and Excise Department (C&ED) air cargo division discovered the incident while conducting a risk assessment and intelligence analysis on March 5 and inspecting a shipment destined for Japan.
C&ED Inspector Daniel Chan Wing-yin said the consignment was declared to contain toys, hats and other items, totalling 124 packages, and was intended to be sent via Hong Kong International Airport.
"During the analysis of X-ray images, officers found that four packages had an unusually high density, inconsistent with the declared content," he said.
Authorities discovered that each suspicious package weighed 17kg, exceeding the declared weight of 1.1kg per package. Upon closer inspection of the packages, they discovered that each package contained a large box and two small boxes. The large box contained electronics, while the small box was used to hide gold.
"This is the largest gold bullion smuggling case ever recorded in terms of seizure volume and market value," Macau Business quoted Hong Kong police as saying.
Police said an investigation was underway and arrests of suspects were not ruled out. Customs stressed that smuggling could result in a maximum fine of HK$2 million and a prison sentence of up to seven years.
The smuggling took place amid rising gold prices, believed to be due to geopolitical instability in many parts of the world and new tariffs announced by the US.
Source: Thanh Nien Newspaper