A Chinese national was arrested in Teesside as part of a national investigation into a suspected underground banking network in China.
A 33-year-old man was detained on suspicion of money laundering in Ingleby Barwick this morning (Thursday, August 4) as part of a National Crime Agency investigation.
During a series of raids in the North East, searches also took place in Newcastle.
The investigation relates to the alleged laundering of criminal cash through so-called Daigou shopping.
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This is where high-value retail items such as watches, jewellery, or designer goods are purchased in the UK and then shipped to China to be re-sold.
NCA investigators, who also seized high-value premium goods during the raids, are now questioning the male.
Martin Clarke, NCA branch commander, said: “Organised criminals need money launderers to clean their profits and fund further offending.
“We are determined to do all we can to stop the flow of illicit cash, and this investigation demonstrates that in action.”
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