BEIJING: The number of money laundering cases prosecuted nationwide has increased rapidly since 2020, according to the Supreme People’s Procuratorate.
Zhang Xiaojin, head of the fourth procuratorial office of the SPP, said that procuratorial organs have continuously increased punishment for money laundering in recent years.
According to statistics released by the SPP, 1,462 people were prosecuted for money laundering between January and September this year, a year-on-year increase of 142.5 percent.
“We have also stepped up efforts in handling crimes related to money laundering, combining this with other ongoing operations such as fighting drugs, embezzlement, bribery and fraud,” he said. Zhang said that procuratorates have strengthened coordination with branches of the People’s Bank of China to formulate tailored action plans to combat money laundering, which lays a solid institutional foundation for the smooth promotion of anti-money laundering work.
In a case released by the SPP, a group led by a man surnamed Zhu, registered a company in Binhu district, Wuxi, Jiangsu province, to illegally sell lottery tickets from August 2017 to January 2020. The fake scheme netted 300 million yuan ($41.4 million) in ill-gotten gains.
–The Daily Mail-China Daily news exchange item
