Jilin Panshi police cracked a case of illegal operation of underground banks using virtual currency, involving an amount of about 2.14 billion yuan

The Public Security Bureau of Panshi City, Jilin Province, successfully cracked a case of illegal operation of underground banks using virtual currency, involving an amount of about 2.14 billion yuan, and 6 suspects who committed crimes in China and South Korea were arrested. According to the police, the suspects involved in the case used the anonymous transactions, decentralization, and borderlessness of virtual currency to illegally conduct RMB and Korean won exchange business. It is understood that the Economic Investigation Brigade of Panshi City Public Security Bureau found important clues in their work. Jin Moudong, a resident of Jilin, and Shen Mou conducted Korean won exchange business in South Korea and China, and in the process defrauded others of money and fled back to China. In response to the clues, the police found that the bank accounts under the names of the two had huge transaction flows, with frequent daily inflows and outflows of funds and different amounts, and many trading customers. The fund transactions met the characteristics of illegal operation of underground banks. The police task force conducted a comprehensive analysis of the whereabouts of Jin Moudong and Shen Mou's bank funds and social relations, expanded the organizational structure and transaction levels, and gradually fully grasped the organizational structure and fund whereabouts of the gang. Subsequently, the police successfully arrested the suspects Jin Moudong, Shen Mou and others, and seized a large number of bank cards and tools involved in the case according to law. The police found out that the criminal gang in this case used domestic accounts to receive and transfer funds, OTC virtual currency trading, Korean won settlement and other methods to illegally engage in foreign exchange business, helping Korean purchasing agents, cross-border e-commerce, import and export trading companies and other groups to realize the exchange of RMB and Korean won. Through a large number of investigations and evidence collection, the police successively arrested Chen Mouguang, Luo Moutao, He Mouda, Zheng Mouyu and others. (China News Network)