Over 40 arrested in NW China for suspected money laundering

YINCHUAN -- Police in the city of Wuzhong, Northwest China's Ningxia Hui autonomous region, have dismantled a money-laundering ring connected to more than 200 telecom and online fraud cases.

More than 40 suspects were arrested in a police raid on Dec 3.

In October, local police determined that a suspect surnamed Ma had conducted illicit money transfers for fraud rings.

Following a two-month investigation, police established a task force to crack the money-laundering ring that layered and transferred funds involved in fraudulent activities across the country involving over 20 million yuan (about $3.14 million).

Further investigation into the case is underway.