Shanghai Prosecutors Disclose a Case of Duty Crime Involving Virtual Currency Money Laundering, Amounting to 1.8 Billion Yuan

Odaily News According to the Shanghai Procuratorate's official WeChat account, a duty crime case involving virtual currency has been disclosed. The Baoshan District Procuratorate in Shanghai successfully initiated supervision over 24 cases involving 24 individuals by conducting a thorough fund review and tracking the fund flow chain. The prosecutor stated that the underground banking syndicate involved had numerous accounts, making the case difficult to handle. The scale of fund transactions was massive, with money laundering amounts reaching as high as 1.8 billion yuan. Ultimately, through pursuit and prosecution, money laundering activities that used virtual currency to achieve cross-border transfer of illicit funds were cracked down on. In response to new and complex money laundering crimes such as underground banking and virtual currency, the Baoshan District Procuratorate guided public security organs to penetrate fund accounts, clarify the sources and destinations of funds, secure electronic data, and make precise and effective accusations, fully ensuring the quality and effectiveness of investigating and handling money laundering cases.