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Large-scale arrest case of Chinese police, suspected money laundering with some virtual currencies


Cryptocurrency maneron related or large-scale arrest cases

Chinese police officials have arrested more than 1,000 people on suspicion of telecommunications fraud. There is a suspicion of money laundering using virtual currency in some areas.

According to the official WeChat account of the public security authorities, about 1,100 suspects related to telecommunications fraud, including those who were laundering money using virtual currency in this arrest called “operation card braking” Arrested. It also reports successful destruction of 170 criminal gangs.

Telecommunications fraud is a crime related to theft or forgery of a smartphone SIM card or spoofing a bank account owner. In the past, criminals used to launder money through banks, etc., but now that banks are increasingly monitoring them, criminals tend to launder money using new methods such as virtual currency. ..

The arrest is said to have been carried out on a large scale in more than 23 areas, including Beijing, Hubei and Shanxi.

Since the State Council of the People’s Republic of China (equivalent to the Cabinet) announced in October 2020 a policy to strengthen the crackdown on telecommunications fraud, more than 300,000 people have already been arrested, including this action, and about 1,500 criminal organizations have been arrested. I have been caught. Not all are related to cryptocurrencies.

In addition, there are many cases of user account freezes in AliPay and WeChat Pay, which are used as the main payment methods for virtual currency OTC transactions, and police authorities are cracking down on suspicion of money laundering under the surface. Many voices point out.


Author: Lewis Kikutani
Reference: Weixin

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“Cryptocurrency” means “cryptographic assets”

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