4 ms·
After reading the article it's still not clear to me what's meant by "transfer a correspondent amount of money through Chinese banking apps". Jane picks up 500
by stef25 3y ago
After reading the article it's still not clear to me what's meant by "transfer a correspondent amount of money through Chinese banking apps".
Jane picks up 500K in cash in Chicago and then transfers 450K from her business in China, to Joe's business in China. Joe then transfers 400K from his US account to Juan's account in the US.
Is that how it works ?
- yieldcrv 2y agoyeah its just like Hawala system works It relies on everyone having other money already aside from the illicit funds