The Italian government has activated the Anti-Mafia Commission to investigate the infiltration of the Chinese Communist Party (CCP) in the country. In addition to investigating the illegal activities of the Italian mafia, it will intensify efforts to combat the illicit activities of Chinese gangs, under the control of the CCP, infiltrating Italian society and collaborating…
Italy Activates Anti-Mafia Commission to Investigate Chinese Infiltration
Former Chinese Official Pleads Guilty in LA to Money Laundering Conspiracy
December 21, 2021
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LOS ANGELES—A former Chinese official who was a fugitive for more than five years pleaded guilty Dec. 20 to a federal conspiracy charge that he laundered millions of dollars and used some of the stolen funds to purchase properties in Monterey Park—and he was immediately sentenced to time already served. Jianjun Qiao’s sentence includes the 24 months he spent…
Money Laundering Drives up Australian House Prices: Senate Hearing
A Senate hearing has heard how illegal financial gains from overseas are being pumped into the Australian property market, driving up house prices across the country. “Australia has become the destination of choice for illicit financial flows … which too often end up in the property market,” Serena Lillywhite, the CEO of Transparency International Australia, told a Senate…
Chinese Use Social Media Apps in Marijuana Money Laundering Scheme
A loophole in Colorado’s marijuana laws has prompted a group of people to engage in a dark occupation involving money laundering. This June, 21 people were accused of illegally growing and distributing marijuana in Colorado. The investigation found that Chinese social media apps played an active role in the drug proceeds being laundered back to…
China’s Nationwide Crackdown on Cryptocurrencies Fails to Block Cross-Border Money Laundering
June 15, 2021
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The Chinese Communist Party (CCP) on June 9 launched a nationwide campaign to prevent cross-border money laundering using virtual currencies (cryptocurrencies). This is the fifth time for such action and part of the CCP’s recent efforts to prevent capital flight and guard against financial risks. The People’s Bank of China (PBoC), China’s central bank, said…
Bitcoin Price Plummets After Beijing Warns of Crypto Crackdown
May 26, 2021
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After increasing in value for months, cryptocurrencies, led by Bitcoin, have recently depreciated across the board. Chinese state media admitted that it’s directly related to two recent moves by Beijing financial authorities. The first major action was on May 18, when National Internet Finance Association of China, China Banking Association, and Payment & Clearing Association…
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