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

Odaily News According to the Shanghai Prosecution's official WeChat account, a duty crime case involving virtual currency was disclosed. The Baoshan District Procuratorate in Shanghai, through deep fund tracing and following the chain of fund flows, successfully initiated supervision over 24 cases involving 24 individuals. Prosecutors stated that the underground banking syndicate involved had numerous accounts, making the case very difficult to handle. The scale of fund transactions was enormous, with the money laundering amount reaching as high as 1.8 billion yuan. Ultimately, through pursuit and prosecution, they cracked down on money laundering activities that used virtual currency to achieve cross-border transfer of illicit funds. 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 source and destination of funds, secure electronic data, and make precise and effective charges, fully ensuring the quality and effectiveness of investigating and handling money laundering cases.