Gangs in China exploiting US gift cards to move stolen cash, DHS says
Gift cards, one of the most basic financial products in the US retail market, have become the backbone of a billion-dollar criminal economy that investigators say is moving American money into China.
Homeland Security Investigations agents say Chinese organised-crime groups have built a laundering network that uses US retailers, mobile wallets and cryptocurrency to steal and export wealth.
Operatives inside the US drain compromised gift cards, buy high-value goods such as iPhones and laptops,...


South China Morning Post
Gangs in China exploiting US gift cards to move stolen cash, DHS says
Stolen cards are used to buy goods like iPhones, which are then sold in China, with the proceeds converted into digital currency.


















