HK$3.4 million of gold entering Hong Kong seized by customs officers in latest cross-border smuggling case
Officials attribute surge in precious metals smuggling this year to enhanced security checks and smugglers cashing in on higher gold prices in Hong Kong
Customs officers seized HK$3.4 million (US$436,000) worth of smuggled gold at the Hong Kong border on Sunday, their second large haul in five days.
The find comes after a man was caught with HK$11 million of undeclared gold in the boot of his car last Wednesday.
Border staff have recently uncovered more cases of smuggled precious metals. There have been at least 26 such cases at the city’s immigration control points so far this year, with border guards confiscating HK$100 million worth of precious metals – more than double the value of seizures from the whole of last year.