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June 27, 2017

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CIB busts money-laundering ring led by Chinese woman

The Criminal Investigation Bureau (CIB,刑事警察局) yesterday busted a money laundering center allegedly helping con rings remit money to the mainland.

Police arrested a woman surnamed Xue, who is believed to be the head of the center, as well as other suspected accomplices.

The 4th Investigation Brigade of the CIB raided Xue's office yesterday morning, nabbing Xue and four accomplices including three runaway foreign workers. Investigators confiscated NT$1 million believed to be ready for remittance into accounts at China Development Bank's Xiamen branch.

Xue and other suspects were handed over to the Banqiao District Prosecutors' Office for prosecution on charges of violating the Money Laundering Control Act, the Banking Act and the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area.

The CIB uncovered the money-laundering center when tracking a cash flow of up to NT$56 million illegally swindled from local victims by a cong ring busted earlier this year by CIB's 4th Investigation Brigade. CIB agents discovered that the money had been sent by Xue's team into surrogate accounts at China Development Bank's Xiamen branch via underground remittance channels.

Xue had just obtained her Republic of China identification card earlier this year after marrying a local more than 10 years ago.

According to the CIB, in order to cover up her illegal business operation, Xue publicly claimed that her center helps apply for foreign workers; however, what she actually did was remit money for con rings or Chinese women staying in Taiwan to mainland China.

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