Wu said he learned that according to the CCTV, the police in Yanbian, Jilin Province, China, recently cracked an underground bank case involving more than 1 billion yuan and involving 10 provinces of the country, and arrested more than 20 suspect. This criminal network operates through a family run system, using overseas companies as a cover to buy low and sell high on the foreign exchange black market, earning exchange rate differentials. The main suspect Zhang Liang confessed that the gang borrowed foreign exchange funds through "peers" or used virtual currency exchange to purchase virtual currency domestically and sell it overseas, in order to achieve illegal cross-border transfer of funds. According to police statistics on the flow of funds in underground bank cases investigated from 2020 to 2023, it was found that most of them involved labor, commerce, and tourism funds, while the rest involved illegal and criminal activities such as fraud and corruption. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=37785