According to an announcement released by Binance, the Binance Financial Crime Compliance Department (FCC) has successfully collaborated with the Taiwan Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office to crack a money laundering case involving approximately 200 million New Taiwan Dollars (about 6 million US dollars) in a fake personal currency business.
It is reported that this criminal group has long assisted fraud groups in laundering money through virtual assets. The group created fake customer chat records, remittance proofs, and forged KYC data to make their riders impersonate personal currency traders in order to evade law enforcement. The law enforcement agencies tracked and monitored several seemingly suspicious cryptocurrency transactions and requested relevant data from stakeholders, including Binance.
Prosecutor Luo Wei-yuan of the Taipei District Prosecutors Office, who is responsible for investigating this case, has indicted a total of 9 suspects last month on charges of aggravated fraud, violation of anti-money laundering laws, and organized crime prevention regulations. Luo Wei-yuan stated:
Damien Ho, the representative of Binance’s Asia Pacific team, also expressed pride in being able to cooperate with Taiwan’s excellent law enforcement agencies and make significant progress in the investigation of the case.
