Shanghai Police Dismantle Gang Aiding Overseas Fraud, Recover Funds
1min read In a significant crackdown on financial crime, the Pudong Police in Shanghai recently dismantled a criminal gang that used "labor recruitment" as a cover to assist overseas fraud groups in transferring funds. The gang operated by recruiting individuals to register virtual currency wallets, which were then used as illegal fund circulation accounts for fraudulent activities.
On April 13th, a resident identified as Mr. Tang received a suspicious text message claiming to be from a "payment on delivery courier." Upon contacting the sender to cancel the delivery, Mr. Tang was asked to provide his bank card information and click on a link. Unbeknownst to him, this action led to his bank account being debited, resulting in a loss of over a million RMB. Mr. Tang promptly reported the incident to the police, triggering a swift investigation.
The police swiftly formed a task force and identified the criminal gang led by individuals named Miao and Wang. On April 22nd to 23rd, the police conducted a coordinated operation in Qingpu District, arresting 11 suspects involved in the case. The investigation revealed that the gang sold the virtual currency accounts registered by recruits to overseas fraudsters for 40 to 50 RMB each, facilitating money laundering activities.
Currently, the main suspects Miao and Wang have been criminally detained, while several other suspects have been taken into custody through lawful criminal coercive measures. The case is under further investigation, and the police have successfully frozen and recovered some of the funds involved. This operation highlights the ongoing efforts by law enforcement to combat financial crimes and protect citizens from fraudulent activities.
