Seven individuals have been sentenced for their roles in a major money-laundering scheme totaling 55 million aimed at helping Chinese university students bypass cash withdrawal limits.
Law enforcement agencies have identified that using underground banking to circumvent China's foreign exchange limit is prevalent among the Chinese community residing in the UK, reportedly involving significant sums.
The investigation revealed a sophisticated operation involving instant messaging apps for transaction arrangements, illustrating the depth of planning and execution behind the laundering scheme.
The operation involved organizing large cash transactions in secretive ways, with the launderers directed not to know their clients, which highlights the structured nature of this illegal activity.
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