Customs officers on Wednesday said 23 people had been arrested over an alleged money laundering operation involving large sums of cash being brought into the territory.
Local people were hired to carry a total of around US$90 million in cash on flights to Hong Kong from Turkey, officers said.
The Hong Kong residents were allegedly paid several thousand dollars each time they collected a suitcase containing at least US$1 million in Istanbul and brought it with them to the SAR to be handed over to a syndicate.
One pair entered Hong Kong 22 times in one month, officers said.
Customs officials added that they have asked Turkey to help them work out where the money came from.