Chinese procuratorates beef up indictment of money-laundering

BEIJING, Oct. 26 (Xinhua) -- Chinese procuratorial organs have maintained their tough stance on money laundering, with 1,718 individuals indicted for such crimes from January to September, up 14.8 percent year on year, the Supreme People's Procuratorate (SPP) said Thursday.

During the same period, among those indicted for covering up and concealing criminal proceeds and the gains derived therefrom, 62,336 individuals were also involved in money laundering crimes, up 92.7 percent year on year, data from the SPP shows.

The SPP attributed the increase to the high incidence of crimes such as telecom fraud and cross-border gambling.

With the application of online payments, blockchain and other information technologies, money-laundering crimes were taking advantage of new methods such as virtual-currency transactions, making it harder to crack down on such crimes, according to the SPP.

The SPP will enhance its collaboration with other organizations, pledging more efforts on prosecuting money laundering cases, it said.