{"id":30563,"date":"2020-10-23T09:51:28","date_gmt":"2020-10-23T06:51:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30563"},"modified":"2025-08-27T22:56:46","modified_gmt":"2025-08-27T19:56:46","slug":"pboc-helps-authorities-arrest-suspects-in-usdt-money-laundering","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/pboc-helps-authorities-arrest-suspects-in-usdt-money-laundering\/","title":{"rendered":"PBOC helps authorities arrest suspects in USDT money laundering"},"content":{"rendered":"<p>The People&#8217;s Bank of China helped law enforcement identify suspects involved in organising illegal gambling. They used Tether (USDT) to launder money, <a href=\"https:\/\/www.theblockcrypto.com\/post\/82010\/china-central-bank-police-gambling-usdt\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">The Block<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>The operation took place in Huizhou, in Guangdong province. With the aid of a local regulator unit, police shut down three sites and arrested 77 suspects who used USDT to launder nearly 120 million yuan ($18 million).<\/p>\n<p>The central bank noted that criminals typically set up gambling sites in overseas jurisdictions. They help users bypass capital controls on cross-border transactions.<\/p>\n<p>In the described case, the suspects used bank transfers and digital assets.<\/p>\n<blockquote>\n<p>&#8220;Money laundering was carried out through several levels, so the transfers of funds were extremely convoluted,&#8221; the regulator noted.<\/p>\n<\/blockquote>\n<p>The operation was part of a broader crackdown on illicit economic activity. In June, Chinese law enforcement blocked the accounts of many over-the-counter crypto traders and their clients over suspicions of involvement in money laundering.<\/p>\n<p>In September, the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/pboc-draws-up-blacklist-of-otc-cryptocurrency-traders\">blocked<\/a> access to online banking for traders on local crypto OTC platforms that had been blacklisted.<\/p>\n<p>China is not alone in the fight against money laundering. In October, Europol <a href=\"https:\/\/u1f987.com\/en\/news\/europol-reports-20-arrests-in-cryptocurrency-enabled-money-laundering-case\">said<\/a> that 20 suspects were arrested in connection with the criminal group QQAAZZ.<\/p>\n<p>Follow ForkLog on Facebook!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The People&#8217;s Bank of China helped law enforcement identify suspects involved in organising illegal gambling. They used Tether (USDT) to launder money, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":30564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1154],"class_list":["post-30563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-crimes"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=30563"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30563\/revisions"}],"predecessor-version":[{"id":30565,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30563\/revisions\/30565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/30564"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=30563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=30563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=30563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}