Indian and Hong Kong customs collaborated to dismantle a money-laundering network exploiting synthetic diamond imports. Indian traders misrepresented these diamonds as real, exporting overvalued jewellery to Hong Kong. Detected by the Directorate of Revenue Intelligence, the scam involved inflating import values to remit currency overseas. Investigations revealed minimal funds returned from exports, hinting at elaborate money laundering. Despite Indian arrests, Hong Kong entities evaded cooperation, prompting bilateral inquiries into suspected firms, uncovering the scheme's mastermind in Hong Kong.
