Southern Daily News (Reporter / Hong Yi, Correspondent / Zhang Lei, Chen Guiquan) - Recently, the Economic Investigation Detachment of Zhaoqing Public Security Bureau successfully cracked a major case of illegal cashing out through POS machines based on clues transferred by the Central Bank of China Zhaoqing Branch. The amount involved in the case is as high as over 200 million yuan, and one suspect has been arrested.
In April this year, the anti-money laundering department of the Bank of China Zhaoqing Branch discovered several suspicious transactions while sorting through clues. They quickly fed back these suspicious leads to the police.
On April 25, the police captured the suspect Lin Moumou. After interrogation, Lin Moumou confessed that starting from August 2009, he used other people's identification cards to register dozens of individual businesses in various places in Duanzhou District of Zhaoqing, obtaining business licenses and tax registration certificates. In reality, these registered fruit wholesalers, feed wholesalers, tea shops, and Duan inkstone sellers had no actual operations. Some could be traced to physical storefronts with signs hanging, but the doors were always locked, and there was no business being conducted.
Lin Moumou admitted that these business licenses he applied for were actually handed over to two suspects in Shenzhen for use, who then applied for POS machines to conduct illegal cashing out. According to preliminary statistics, just the 30-plus merchants investigated so far, equipped with over 50 POS machines, have illegally cashed out an amount totaling over 200 million yuan RMB. Lin Moumou stated that his profit came from charging 1,000 yuan per set of business and tax documents as a handling fee, and collecting 1,000 yuan per month for each bank account maintenance fee.
Almost at the same time, the Zhaoqing police also captured another criminal gang using credit card swiping for illegal cashing out, whose modus operandi was identical to the aforementioned gang. Suspect Wang X Cai (male, 35 years old, Hubei native) confessed that he used his own and four others' identification cards to rent garages or shops respectively in Duanzhou District and Nan'an Town of Gaoyao City, falsely registering individual businesses under the guise of operating Duan inkstones, tea shops, and feed wholesalers. He opened corresponding corporate accounts at banks and applied for 11 POS machines at Tonglian Company in Zhaoqing. Without any actual business operations, he handed over the above-mentioned POS machines to a surnamed Xu man from Shenzhen (at large) for cashing out. From July 26, 2010, to April 16, 2011, just the total transaction amount of the seven POS machines registered under three shops reached as high as 1.12 billion yuan.
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