Key facts
- Hong Kong police arrested 127 individuals in a six-month operation.
- The operation targeted a Vietnamese-led crime syndicate.
- The syndicate allegedly charged interest rates of up to 3,700% on loans.
- The group also ran illegal gambling dens and unlicensed bars.
- Police seized over HK$2 million in criminal proceeds.
- The arrests occurred on October 8 and 9 across West Kowloon.
Hong Kong police have arrested 127 individuals in a six-month undercover operation that dismantled a Vietnamese-led crime syndicate operating in West Kowloon. The syndicate is accused of running loan-sharking rackets with interest rates as high as 3,700% annually, alongside illegal gambling operations and unlicensed bars.
Authorities noted that the group used a fellow-villagers' association as a front to recruit members for usury and illegal rotating credit clubs, known as "silver societies." They also provided services to illegal immigrants, including shelter, forged identity cards, and assistance in finding work. The syndicate allegedly used violence, threats, and coercion against borrowers who failed to repay debts, sometimes forcing them into drug trafficking or other illegal activities.
During raids on October 8 and 9, police seized over HK$2 million in criminal proceeds, along with cash, valuables, forgery tools, gambling equipment, loan records, and drugs. The operation, codenamed "Reverse Light," involved the Organised Crime and Triad Bureau and the Immigration Department. The syndicate's estimated monthly turnover was over HK$1 million.