China’s Supreme People’s Procuratorate Strengthens Anti-Money Laundering Efforts for 2025
China prosecutes over 3,200 individuals for virtual currency money laundering and maintains strong enforcement against telecom and online fraud, reflecting ongoing digital financial crime crackdowns.
VIRTUAL
Fact Check
The statement accurately reflects the official work report of the Supreme People's Court of China delivered on March 9, 2026. Multiple news outlets (BlockBeats, Odaily) citing CCTV News confirm the 158.5% increase in network security crime cases and the specific mention of virtual currency in the context of money laundering and cross-border fund transfers.
Summary
In 2025, China’s Supreme People’s Procuratorate prosecuted 3,259 individuals for money laundering involving virtual currencies and underground banks. The report also recorded 69,000 prosecutions related to telecom and online fraud, demonstrating a robust enforcement of anti-financial crime measures.
Terms & Concepts
- virtual currencies: Digital currencies that use cryptography for security, typically decentralized, and based on blockchain technology.
- underground banks: Informal financial institutions operating outside regulatory oversight, often facilitating illicit transactions and money laundering.