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Hong Kong has cracked a smuggling case involving 230 million Hong Kong dollars worth of gold and silver, marking the largest recorded precious metals smuggling case
According to Caixin, the Hong Kong Customs announced the recent bust of two suspected air cargo smuggling cases involving precious metals at Hong Kong International Airport, seizing approximately 168 kilograms of suspected gold flakes and about 285 kilograms of suspected silver flakes, with an estimated total market value of around HKD 230 million. Based on the market value of the smuggled goods, this is the largest case of smuggling precious metals recorded by Customs.
According to the Hong Kong Import and Export Ordinance, smuggling is a serious crime. Anyone who imports or exports goods not listed on the manifest, upon conviction, can be fined up to HKD 2 million and imprisoned for 7 years.
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