Shanghai prosecutors have disclosed a case involving money laundering related to virtual currencies, with the amount laundered reaching 1.8 billion yu...

[Shanghai Procuratorate Discloses a Case of Money Laundering Involving Virtual Currency, with Laundered Funds Reaching 1.8 Billion Yuan] According to Mars Finance, the Shanghai Procuratorate's official WeChat account disclosed that in handling a case of duty-related crime, the Baoshan District Procuratorate successfully initiated supervision of 24 cases involving 24 individuals through a penetrating investigation of funds and tracing the flow of funds. Prosecutors stated that the underground banking group involved had numerous accounts, making the investigation very difficult, and the scale of fund transactions was enormous, with the laundered amount reaching 1.8 billion yuan. Ultimately, through pursuit and prosecution, the procuratorate cracked down on money laundering activities that used virtual currency to transfer illicit funds across borders. In response to new and complex money laundering crimes such as underground banks and virtual currencies, the Baoshan District Procuratorate guided public security organs to penetrate fund accounts, ascertain the source and destination of funds, secure electronic data, and make accurate and effective charges, fully ensuring the quality and efficiency of money laundering case investigations.