REAL-ICAC-2025-001·HONG KONG INDEPENDENT COMMISSION AGAINST CORRUPTION·
ICAC and Police joint operation ‘Momentum’: 32 netted for alleged corruption and fraud over $140m special loans
Report date: (original source date). Article publication date: .
Report an error or privacy concernJURISDICTIONHONG KONGSECTORBANKING & FINANCIAL SERVICESSTAGEINVESTIGATION
Summary
Hong Kong's ICAC and Police announced 32 arrests over alleged corruption-facilitated applications under government-backed SME loan schemes. ICAC said intermediaries allegedly recruited dummy SMEs, used false supporting documents and offered bribes to bank staff; investigations were ongoing. The announcement described 28 loan applications by 22 SMEs and said some applications had been intercepted before funds were released.