TechFlow News: On April 4, the Qinzhou District People’s Court of Tianshui City, Gansu Province recently adjudicated a criminal case involving virtual currency, in which the defendant assisted others in withdrawing cash from packages. The defendant, aware that the funds were proceeds of fraud, withdrew a total of over RMB 390,000 in cash seven times within surveillance blind spots under the guise of a “high-paying errand-running” part-time job. The defendant then converted the illicit funds into virtual currency and transferred them to their upstream contact, earning an illegal profit of RMB 21,500. The court held that the defendant committed the crime of concealing or disguising criminal proceeds and sentenced them to two years and four months’ imprisonment, imposed a fine of RMB 10,000, and ordered the confiscation of the illegal gains.
The presiding judge cautioned that offline cash withdrawals have become a critical step in “laundering” proceeds from telecom fraud. Activities such as “errand-running for cash withdrawals” and “high-paying daily settlements” are often integral links in fraud chains. The public should remain vigilant against behaviors including acting as intermediaries for cash collection, fund transfers, or assisting in moving funds—lest they unwittingly become accomplices to crime.
