TechFlow news, on November 10, according to Nanchong Political-Legal Affairs, the Shunqing Branch of Nanchong Municipal Public Security Bureau in Sichuan Province successfully dismantled a "money muling" gang using virtual currency for money laundering, arresting five suspects including Wang Mou.
Law enforcement officers explained that the criminal gang, led by Wang Mou and others, used channels such as WeChat Moments to lure individuals with offers of "high-commission salaries," recruiting so-called "card farmers" and providing their bank card details to overseas principals. After funds were transferred into these accounts, they were split and transferred into designated accounts per instructions from the principals. Upon completion of the "money muling," the principals paid the gang's "compensation" via virtual currency.
The five suspects have been criminally detained in accordance with the law, and the case is under further investigation. Police warn that renting, lending, or selling bank cards and payment accounts may involve illegal or criminal activities.
