Hong Kong authorities arrest seven in US$1.8 billion money laundering case

They did not reveal the nationalities but said all seven were Hong Kong residents.

Authorities seized HK$165 million (US$21.10 million) worth of assets, including five properties and three commercial units, as part of the operation.

Yeung Yuk Man from the customs department said the agency contacted a number of law enforcement authorities in the region to share its intelligence, including India.

The scheme allegedly involved online scams in India and the sale of electronics, rare gems including diamonds, among other goods, authorities said.

The scheme allegedly used shell companies and multiple bank accounts to launder money, with one account receiving more than 50 deposits in one day. Authorities did not name the banks.

The seven were all released on bail while investigations continue and authorities did not rule out the prospect of further arrests.

SEOUL: As South Korea's birth rate hits fresh lows, Seoul city officials have a plan to help - subsidised egg freezing. But experts warn the initiative is unlikely to reverse precipitous demographic decline.

At just 0.7 births per woman late last year, South Korea has one of the lowest birthrates in the world, far below the replacement rate, meaning the population is ageing - and shrinking - rapidly.

The government has poured billions of dollars into trying to encourage more births, with one of the latest efforts involving Seoul city authorities offering to subsidise the cost of a round of egg freezing.

Jeong, who is in her 40s, decided to take them up.

"I felt the pressure to have a baby because of my age, which led me to consider getting married quickly," Jeong, who asked to be identified only by her surname, told AFP.

"When I reached my mid-30s, I suggested to the men I dated that we should get married as soon as possible. But it just didn't work out," Jeong added. So she turned to a backup plan.