According to an announcement released by Binance Exchange, Binance’s Financial Crimes Compliance Department (FCC) recently cooperated with the Investigation Bureau of Taiwan’s Ministry of Justice and the Taipei District Prosecutor’s Office to successfully crack a case involving nearly NT$200 million (approximately US$6 million). A money laundering case involving a "fake personal currency dealer".
It is reported that this criminal group has long assisted fraud groups to use virtual assets to launder money. The group created false customer conversation records, remittance certificates, forged KYC information, etc. to allow its riders to pass themselves off as individual currency dealers in order to evade prosecution. Law enforcement authorities tracked and monitored multiple seemingly suspicious cryptocurrency transactions and requested relevant data from various stakeholders, including Binance.
Luo Weiyuan, the prosecutor of the Taipei District Prosecutor's Office who is responsible for investigating this case, has prosecuted a total of 9 suspects in this case last month on suspicion of aggravated fraud, violation of money laundering prevention laws and organized crime prevention regulations. Luo Weiyuan said:
"We are grateful to Binance for its long-term active cooperation with Taiwan's law enforcement agencies and for providing professional assistance and key intelligence in this case. This allowed our investigation team to further unravel the case, piece together a complete picture of the crime, and ultimately bring the suspect to justice. By law."
Damien Ho, Binance’s Asia Pacific team representative, also said that Binance is proud to work with Taiwan’s excellent prosecutors and police investigation units to make significant progress in case investigation.
This article Binance assisted Taiwan prosecutors in uncovering a NT$200 million “counterfeit money dealer’s money laundering case” first appeared on Zombit.
