TechFlow news: On October 8, the Xiang'an Branch of Xiamen Public Security Bureau, jointly with relevant police units, successfully dismantled an underground remittance syndicate that used four-party payment systems for money laundering and cash withdrawal. Since 2018, this gang has operated across multiple regions in China, using social media apps to advertise and seek "money laundering" clients, providing illegal fund payment and settlement services for overseas criminal organizations through virtual currency cashing-out, matched trading, and other methods, involving a significant amount of illicit funds.
During this operation, police arrested nine suspects including He Mouning and He Mouwen, seizing numerous tools used in the crimes such as mobile phones and bank cards. Currently, all nine suspects have been placed under criminal compulsory measures on suspicion of illegal business operations and aiding information network criminal activities. The case is under further investigation.
