"Metropolitan Police detectives said more than £55 million had been laundered by the group between February 2020 and June 2023. Increasing concerns around underground banking first led detectives based at Stoke Newington station in London to begin investigating the group. In December 2022, officers raided an address...where they found more than £104,000 in a carrier bag hidden in a wardrobe. While searching... detectives found multiple cash counting machines and money bags... Specialist officers then undertook comprehensive analysis of.... mobile phones, revealing that [use] of a Chinese messaging app to sell British pounds to university students to circumnavigate foreign currency controls which limits the amount of cash that can be taken out of China per year."
