The Yongfeng police in Jiangxi Province have cracked down on a gang using virtual currency for "electric fraud money laundering," involving more than 100,000 yuan

ChainCatcher news, according to Jiangxi Daily, recently, the Criminal Investigation Team of the Yongfeng County Public Security Bureau in Jiangxi Province, in conjunction with the Municipal Public Security Bureau's Criminal Investigation Detachment, successfully dismantled a money laundering gang that used virtual currency for "electric fraud scoring."

Since late January this year, the suspects Liang Mouyong, Zeng Mou, and Zhang Mouyong formed a "electric fraud scoring" team for profit, gradually recruiting others and developing a network. Liang Mouyong was responsible for using "paper**" overseas chat software to contact fraudsters for orders, while Zeng Mou and Zhang Mouyong were responsible for finding card farmers, collecting more than 10 bank accounts through borrowing and inducement, which were used to receive illegal funds. After the illegal funds were received, they were converted into virtual currency to achieve the purpose of money laundering. From January 24 to February 3, the gang transferred over 100,000 yuan.

Currently, Liang Mouyong, Zeng Mou, and 6 others have been criminally detained by the public security organs according to the law, while Wen Moubo and Gao Moubing have been administratively punished by the public security organs according to the law. The case is still under further investigation.