TechFlow News, January 4th: According to a disclosure from the Shanghai Procuratorate's public account, the Baoshan District Procuratorate in Shanghai, while handling a duty-related crime case, conducted a thorough fund review and tracked the fund flow chain. This led to the successful filing and supervision of 24 cases involving 24 individuals. Prosecutors stated that the underground banking syndicate involved had numerous accounts, making the case highly challenging 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, they cracked down on money laundering activities that utilized virtual currencies to achieve cross-border transfers of illicit funds. In response to new and complex money laundering crimes such as underground banking and virtual currencies, the Baoshan District Procuratorate guided public security authorities 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 efficiency of investigating and handling money laundering cases.
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