Hong Kong police concluded a two-day operation, code-named 'Rapidhorse,' resulting in the arrest of 147 people suspected of involvement in a triad-linked syndicate. According to law enforcement, the group allegedly established specialized centers to manage a vast network of bank accounts used to launder approximately HK$600 million (US$76 million) in illicit funds.

The operation targeted the syndicate’s broader activities, which police claim included the management of illegal gambling dens and drug distribution points across Kowloon and the New Territories. The investigation utilized undercover detectives to infiltrate the syndicate's operations before executing the citywide crackdown.

While the police have characterized the syndicate as a coordinated criminal enterprise, the investigation is ongoing. Authorities have not yet released specific details regarding the individual roles of those arrested or the specific timeline for potential formal charges. The operation highlights a continued focus by Hong Kong law enforcement on dismantling the financial infrastructure supporting organized crime groups in the region.