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Police shut down Macau linked underground banks

Two underground bank operations that were funneling money to Macau from Guangzhou have been busted by Chinese authorities, according to China Daily.

The underground bank, which was hidden in a food market in Guangzhou, is suspected of facilitating cross-border transactions worth more than $70 million in the past month alone.

Seven people have been arrested for their connection to the scheme, while Shaoguan police adding that more than 10,000 people are suspected to have used the illicit operations.

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