Transnational money laundering ring involving over VND30 trillion dismantled
VOV.VN - The Economic Police Department of Da Nang City Police announced on January 22 that they have busted the nation’s largest-ever transnational money laundering syndicate, arresting five suspects and seizing several exhibits.
According to details from the initial investigation, between 2022 and 2024, T.Q.T., 36, residing in Hai Chau district, Da Nang city, was involved in forging citizen identification cards to establish 187 enterprises. In addition to this, T.Q.T. counterfeited several seals of banks, state agencies, and notary organizations to authenticate fake identification cards and business registration certificates for the businesses.
The suspect also registered over 600 corporate bank accounts, later reselling them to other individuals for the purpose of facilitating and legalizing illicit financial flows. These transactions were primarily linked to crimes such as fraud and gambling originating from abroad, aimed at bypassing the scrutiny of law enforcement agencies.
Police forces revealed that the total transactions processed through the fake corporate accounts amounted to nearly VND30 trillion, with foreign currency transactions estimated at more than VND300 billion.
As the investigation expanded, police apprehended four additional suspects involved in the transnational money laundering operation. Among them was a bank employee who collaborated with T.Q.T. to open multiple bank accounts and resell them to various individuals for money transfer activities. This employee also provided account information to T.Q.T., allowing them to withdraw VND900 million derived from criminal activities through the fraudulent accounts.
During searches of the suspects' residences, authorities seized 122 counterfeit seals, 40 original Business Registration Certificates, five printers, a paper cutter, a laser engraving machine, a laminator, and various other tools used in the forgery process.
The investigation into the case is ongoing.
