Record $29 Million Precious Metals Bust at Hong Kong Airport
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Some of the multi-purpose cleaning machines and ultraviolet cleaning machines used to conceal the batch of suspected precious metals in the case, as well as some of the seized suspected precious metals. Photo: Hong Kong Customs
Hong Kong Customs on Thursday announced it had thwarted two suspected smuggling attempts involving airfreight at the city’s international airport, seizing approximately 168 kilograms of suspected gold flakes and 285 kilograms of suspected silver flakes.
The haul, with an estimated market value of roughly HK$230 million ($29.4 million), marks the largest precious metals smuggling bust on record by value for the agency.
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- Hong Kong Customs seized 168 kg of suspected gold and 285 kg of suspected silver worth HK$230 million in two record smuggling busts at the airport.
- Smugglers used altered cleaning machines to hide metals, aiming to evade Japanese taxes; successful smuggling could have defrauded HK$23 million in taxes.
- A separate case intercepted 219 kg of silver hidden in a private car; smuggling in Hong Kong carries up to seven years' imprisonment and HK$2 million fines.
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What Happened When
- Late 2025：
- Dramatic spike in silver prices begins, contributing to increased smuggling activity.
- Since 2025：
- Upward trend in precious metals smuggling observed, prompting targeted law enforcement deployment.
- January 27, 2026：
- Hong Kong authorities intercepted an outbound private car at the Heung Yuen Wai Control Point, confiscating approximately 219 kilograms of suspected contraband silver.
- March 2, 2026：
- Customs officers at Hong Kong International Airport targeted two batches of airfreight destined for Japan, declared as carrying cleaning machines, and conducted inspections.
- March 5, 2026：
- Hong Kong Customs announced the seizure of approximately 168 kilograms of suspected gold flakes and 285 kilograms of suspected silver flakes at the airport, marking the largest precious metals smuggling bust on record by value for the agency.
AI generated, for reference only
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