Supreme People's Court: Next Step to Focus on Combating Associated Crimes Such as "Money Laundering" Using Virtual Currency and Underground Banks

Odaily News On February 26, during the press conference on "The Work Situation of People's Courts in Punishing Telecom Network Fraud and Property Infringement Crimes According to Law" held by the Supreme People's Court, Wang Bin, the Chief Judge of the Third Criminal Division of the Supreme People's Court, stated that the next step for the courts is to focus their crackdown efforts on the principal offenders and key members of criminal organizations, the "gold masters" behind telecom fraud, "snakeheads" organizing illegal border crossings, organizations providing armed protection for cross-border telecom fraud crimes, as well as associated crimes committed during the process of telecom fraud, such as intentional homicide, intentional injury, kidnapping, and other violent crimes, and "money laundering" using virtual currency and underground banks.

Wang Bin also stated that the People's Courts will increase the application of property penalties against telecom fraud criminals according to law, preventing criminals from gaining economic benefits, guiding individuals involved in "two-card" (bank card, phone card) accessory offenses or concealment of criminal proceeds to voluntarily compensate victims, considering restitution as a factor for leniency in sentencing such as admission of guilt and remorse, and imposing severe punishment according to law on criminals who have the ability but refuse to make restitution.