Hong Kong law-enforcement units this week arrested fifteen individuals suspected of orchestrating a vast money-laundering syndicate tied to the Sun Yee On triad, believed to have routed more than HK$1.1 billion (about US$142 million) through its accounts.

The crackdown, announced on Sunday, stemmed from a coordinated investigation launched last year that targeted triad-linked financial crimes across Kowloon and the New Territories.

The detained group—ten men and five women aged between 27 and 62—face charges including money-laundering, operating illegal gambling dens and participation in unlicensed gambling activities.

Five individuals have already been charged and are scheduled to appear at Kowloon City Court.

During simultaneous raids, officers uncovered over HK$24.7 million in cash and assorted assets at the residence of a 35-year-old suspect identified as the alleged ringleader.

The man is believed to be tied to Sun Yee On, one of Hong Kong’s most prominent triads, while five others are thought to have played central roles in the syndicate.

Police said the operation involved a web of shell companies and unlicensed betting venues, which served to funnel illicit funds through the financial system and create a façade of legitimacy.

Superintendent Ching Chi-yan of Yau Tsim district said the scale and sophistication of the scheme represented a significant challenge to Hong Kong’s status as a leading financial centre, underscoring the need for robust enforcement.

The investigation began in earnest last year, with search warrants executed at various sites including a financial services firm.

Detectives pieced together transactions emanating from gaming houses and small-bet operations, channelled through a network of bank accounts controlled by the syndicate.

Analysts say that the case highlights the evolving threat posed by organised-crime groups to the territory’s financial integrity and serves as a stern warning to those responsible for illicit flows of capital.