Hong Kong busts 230 million HKD gold and silver smuggling case, the largest smuggling precious metals case on record. ChainCatcher reports that according to Caixin, Hong Kong Customs announced that they recently uncovered two suspected precious metal smuggling cases by air at Hong Kong International Airport. Approximately 168 kilograms of suspected gold sheets and about 285 kilograms of suspected silver sheets were seized, with an estimated total market value of about 230 million HKD. Based on the market value of the smuggled goods, this is the largest smuggling precious metals case ever cracked by Customs. According to Hong Kong's Import and Export Ordinance, smuggling is a serious offense. Anyone who imports or exports unlisted cargo, once convicted, can face a maximum fine of 2 million HKD and 7 years in prison.