Shanghai prosecutors disclosed a money laundering case involving virtual currency, with the amount of money laundered reaching 1.8 billion yuan.

The Shanghai Procuratorate's official WeChat account disclosed a case of job-related crime involving virtual currency. The Baoshan District Procuratorate, through a thorough investigation of funds, traced the flow of funds and successfully initiated supervision of 24 cases involving 24 individuals. Prosecutors stated that the underground banking group involved had numerous accounts, making the investigation very difficult. The scale of transactions was enormous, with money laundering amounting to 1.8 billion yuan. Ultimately, through pursuit and prosecution, the procuratorate cracked down on money laundering activities that used virtual currency to transfer illicit funds across borders. In response to new and complex money laundering crimes such as underground banks and virtual currencies, the Baoshan District Procuratorate guided public security organs to penetrate financial accounts, ascertain the source and destination of funds, secure electronic data, and make accurate and effective charges, fully ensuring the quality and efficiency of money laundering case investigations.