China's Supreme People's Procuratorate and Ministry of Public Security release typical cases of punishing money laundering crimes in accordance with the law

China News Service, Beijing, November 11 (Reporters Zhang Su and Guo Chaokai) China's Supreme People's Procuratorate and the Ministry of Public Security jointly released typical cases of punishing money laundering crimes in accordance with the law on the 11th, demonstrating the effectiveness of the procuratorate and public security agencies in jointly combating money laundering crimes.

There are 5 typical cases in this batch, involving the use of financial intelligence, individual prosecution of money laundering crimes, punishment of unit money laundering crimes, crackdown on underground banks, crackdown on and management of money laundering crimes using shell companies, etc. The overall crime characteristics include diverse money laundering methods, complex crime situations, and huge amounts of money involved.

A prosecutor from the Economic Crime Prosecution Office of the Supreme People's Procuratorate stated that the selected cases focused on elaborating on difficult issues in judicial case handling such as accurately distinguishing money laundering crimes from predicate crimes, illegal business crimes and money laundering crimes, and strengthening the review of evidence throughout the chain, which will help case investigators accurately grasp the identification criteria for money laundering crimes.

In recent years, the procuratorial organs and public security organs have adhered to the "one case, double investigation" and jointly punished money laundering crimes in accordance with the law. They have continuously improved the quality and efficiency of handling money laundering cases through penetrating examination of complex money laundering behaviors, traceability of money laundering funds, and full-chain crackdowns.

The "Li Moulei Money Laundering Case" released this time revealed the shady story of shell companies acting as "funding channels" for fund-raising fraud. In more than a year, the criminals registered 14 companies with no actual business operations to collect "handling fees", assisted in the transfer of more than 2.9 billion yuan in fund-raising fraud, and made illegal profits of more than 24 million yuan. They were eventually sentenced to seven years and six months in prison for money laundering.

The Supreme People's Procuratorate stated that when handling illegal fund-raising cases, the case-handling agencies must focus on strengthening the substantive examination of the registration background, operating status, and capital expenditures of the affiliated companies involved in the case where the funds are transferred quickly and frequently between different companies. At the same time, cross-reference of multi-department data is effectively used to determine whether the essence of fund flows between companies is generated by real business activities or provides a money laundering channel.

This batch of typical cases is also characterized by strengthening multi-party collaboration in the field of anti-money laundering. In the "Wang Moufang Money Laundering Case", the procuratorial organs and public security organs, together with the People's Bank of China and other anti-money laundering obligations, continued to improve the connection mechanism between administrative law enforcement and criminal justice in the field of anti-money laundering, strengthened the timely sharing, transfer and joint research and judgment of anti-money laundering information and intelligence, dug deep into clues of money laundering crimes, and achieved full-chain traceability and integrated crackdown on money laundering.