The police in Shanghai, China, have dismantled a gang that helps transfer funds for overseas scams through Virtual Money accounts, arresting 11 people.

On May 17, according to Guangming.com, Shanghai Pudong police recently successfully smashed a criminal gang that transferred funds for overseas fraud gangs under the guise of "labor recruitment". The gang recruits people to register virtual currency wallets to provide illegal money circulation accounts for fraudulent activities. On April 13, Mr. Tang, a citizen, contacted the other party to cancel the express delivery after receiving a text message "Collect Express". They are asked for their card details and send a link. After Mr. Tang clicked on the link, he entered the bank card number and verification code as required, but found that his bank account had been debited, and the cumulative loss was more than one million yuan, so he called the police. After receiving the report, the police quickly set up a special case team to carry out an investigation and lock down the criminal gang headed by Miao and Wang. From April 22 to 23, the police carried out a unified network collection operation in Qingpu District, and arrested 11 suspects involved in the case. After investigation, the gang sold the virtual currency accounts registered by the recruits to overseas fraudsters at a price of 40 to 50 yuan each for money laundering. At present, the main suspects Miao and Wang have been criminally detained, and a number of suspects have been taken criminal compulsory measures in accordance with the law, and the case is being further investigated, and the police have frozen and recovered some of the funds involved in the case.