ChainCatcher news: Ms. Zhang from Tianjin was scammed out of over 260,000 yuan this month, with the fraudulently obtained money withdrawn in Xingguo County. The Xingguo police acted quickly, arresting 8 criminal suspects and dismantling a virtual currency money laundering "water room" operation, seizing 200,000 yuan in related funds.It is reported that the suspect Li Mouyuan provided bank accounts to the money laundering gang to assist in their laundering activities and withdrew over 260,000 yuan while knowing that the funds were involved in online illegal activities. After receiving the cash withdrawn by Li Mouyuan, the money laundering gang fled back to Yuzhou, Henan, and handed the involved funds to the virtual currency money laundering "water room" suspect Hou Moupeng. Hou Moupeng then exchanged the over 260,000 yuan in cash obtained from the fraud into virtual currency U offline, transferring it to a designated virtual currency address, ultimately achieving the laundering and whitening of the involved funds.The police successfully dismantled the money laundering den, arrested multiple suspects, and recovered part of the involved funds.

ChainCatcher news, according to China National Radio, the Wuchang District Branch of the Wuhan Public Security Bureau has successfully dismantled a gang that used virtual currency for money laundering through the collaboration of three centers: the "Intelligence, Guidance, and Action" Integrated Center, the Law Enforcement Case Management Center, and the Synthetic Operations Center. Seven arrest teams simultaneously conducted operations in provinces and cities such as Deyang in Sichuan, Changchun in Jilin, and Dongguan in Guangdong, resulting in the criminal detention of 27 individuals. The funds flowing through the accounts controlled by this gang reached 1 billion yuan.Investigations revealed that since April of this year, the suspect, referred to as "Certain," contacted his "superior" through the "Airplane" software to accept tasks, organizing gang members to use proceeds from telecom fraud to purchase digital virtual currency online, which was then transferred to the superior's account, thus helping the telecom fraud gang launder money and earning commissions in the process. Preliminary statistics indicate that this money laundering gang was involved in funds amounting to as much as 1 billion yuan. The case is currently under further investigation.

ChainCatcher news, according to Bloomberg, the central bank of Singapore has instructed financial institutions to review related transactions of previously suspected money laundering cases. The Monetary Authority of Singapore has required banks to examine any suspicious or unusual transactions of the suspects since the beginning of 2020. The review list includes 34 individuals, among whom are 10 suspects arrested last month.Previous report, on August 17, Singapore uncovered the largest money laundering case in recent years, with total assets involved amounting to approximately 1 billion, and 10 individuals including the founder of New Treasure Investment, Su Baolin, were arrested.