Chinese police and Hong Kong authorities dismantled a cross-border underground banking group operating between Guangdong and Hong Kong, according to Xinhua News Agency. More than 170 suspects were arrested, over 15 million yuan in suspected criminal funds was frozen, and property worth about HK$170 million was seized. The group used shell companies and methods including paired transactions, false trade, cash-and-gold smuggling and virtual-currency trading to move money illegally across borders for gambling and fraud-related crimes.