TechFlow news, on February 9, according to Ifeng News, the Yongfeng County Public Security Bureau of Jiangxi Province, in collaboration with the municipal public security bureau's criminal investigation detachment, successfully dismantled a money laundering gang using virtual currency for "telecom fraud fund shifting."
The gang, led by Liang Mouyong, Zeng Mou, and Zhang Mouyong, began contacting telecom fraudsters via overseas chat applications since late January this year, collecting bank accounts to receive illicit funds, and then converting the funds into virtual currency for money laundering purposes.
Police have arrested eight suspects, including six criminally detained and two administratively punished according to law. The investigation revealed that the gang transferred over 100,000 yuan between January 24 and February 3.
