Hong Kong police arrest 15 suspects over daylight heist where £5m cash was stolen in 30 seconds

Hong Kong police have arrested 15 people in connection with a tightly choreographed heist that saw 1bn yen (£4.7m) stolen in 30 seconds in a busy commercial area on Hong Kong Island.

The robbery took place in broad daylight at 9am on Thursday on a busy street in Sheung Wan, outside a currency exchange, when three armed assailants jumped out of a car and brandished a 20cm beef knife.

The victims were employees of a Japanese company dealing in cryptocurrency and luxury goods, carrying an enormous sum of cash in four suitcases. They were meeting for a planned exchange of 1bn yen, or about HK$50m, at the shop on Wing Lok Street.

“One of them brandished a 20cm [8 inch] beef knife to threaten the two employees, snatching the cash in the four suitcases and loading them into their car before fleeing the scene,” police superintendent Sin Kwok-ming said.

The gang used at least two vehicles, transferring the suitcases to a backup car shortly after fleeing. The original getaway car was later abandoned, showing forethought in avoiding detection.

The stolen cash is yet to be recovered, chief superintendent Sam Sin said at a press conference on Monday.

He claimed they were able to arrest 15 people within four days because of the government’s “SmartView” CCTV programme. The programme has seen thousands of CCTV cameras equipped with AI face recognition technology installed across the city, despite concerns over privacy and the potential for abuses of power.

Chief Inspector Man Chi-yeung described the robbery as a “meticulously planned” and violent operation characterised by its professional execution.

Police on Monday said 11 men and four women aged between 24 and 69 had been arrested in connection with the robbery.

All those arrested were local residents, with some of the suspects known to have past links to Hong Kong’s organised crime groups.

Seven of them have been charged with conspiracy to commit robbery.

Inspector Man said the group had conducted surveillance and set up a strategic ambush near the site before carrying out the heist.

“As soon as the victims appeared, the suspects manoeuvred their private car into position, jumped out, and snatched those suitcases, he said.

“Their technique appeared highly skilled and efficient, with the entire robbery completed in about 30 seconds,” he added.

“Shortly after leaving the area, they met up with a second backup vehicle, where two other accomplices were waiting to assist in transferring the suitcases from one car to the other.”

They left their first car on Jervois Street, from which the police recovered a knife, used masks and drinks.

Police said their investigations continue, particularly with regards to how the robbers knew about the money exchange in advance.

A 43-year-old man from mainland China who was arrested on Thursday in relation to the case has been released on bail, with police saying they still needed to establish whether he was directly connected to the robbery.