On August 19-20, 2024, a joint operation named “Demarcation” was conducted by the SFC, ICAC, and Macao Judiciary Police to address suspected cross-boundary fraud involving a Hong Kong-listed company. Senior executives were arrested for fictitious transactions and false accounting totaling around HK$120 million. The investigation uncovered falsified documents and misappropriation of funds, leading to searches and arrests across both Hong Kong and Macao. The agencies involved are committed to tackling cross-border financial misconduct and maintaining market integrity.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR137