BlockBeats News, October 20th, According to Bloomberg, the U.S. Department of Homeland Security (DHS) revealed that an organized crime group from China has been laundering money on a large scale through U.S. gift cards, transferring funds to China. The investigation shows that criminals in the U.S. use stolen gift cards to purchase high-value electronics, which are then shipped back to China for resale. After making a profit, they convert the funds into cryptocurrency and transfer them through Chinese payment platforms.
The DHS pointed out that in the past two years, related fraud losses have exceeded $1 billion, and the criminal networks involved have been bulk purchasing stolen card numbers through platforms like WeChat, in coordination with methods such as SMS phishing and SIM farms.
