Over 40 arrested in NW China for suspected money laundering

Police in the city of Wuzhong, northwest China's Ningxia Hui Autonomous Region, have dismantled a money-laundering ring connected to more than 200 telecom and online fraud cases. This was reported by The Xinhua News Agency. http://www.chinaview.cn/

More than 40 suspects were arrested in a police raid.

In October, local police determined that a suspect surnamed Ma had conducted illicit money transfers for fraud rings.

Following a two-month investigation, police established a task force to crack the money-laundering ring that layered and transferred funds involved in fraudulent activities across the country involving over ¥20 mln (about $3.14 mln).

Further investigation into the case is underway.