Recently, a friend's lawyer told me that there has been a surge in cash transactions for U cases, and many people have been arrested for these actions. Counting the common points of these cases, you must remain vigilant!
Transaction method: buying and selling U in cash, usually through on-site transactions, paying in cash, completely without going through a legitimate trading platform.
Transaction amount: a single cash transaction of hundreds of thousands is particularly likely to raise suspicion from public security authorities.
Identity not verified: during the transaction process, U traders usually do not verify the other party's identity and do not check the source of the funds, as long as the transaction is successful.
Why are these transactions easily investigated?
Cash transactions themselves cannot trace the source of funds. Once involved in fraudulent funds, your transaction may be considered as 'money laundering', especially in cases of large amounts.
The other party is a 'regional U trader', and their trading activities usually do not undergo strict review. Their disregard for the source of funds connects them closely with fraudulent cases.
Public security authorities will investigate whether there are behaviors of 'concealment of crime', that is, 'knowing that the source of funds is unclear, yet still proceeding with the transaction', which will lead to criminal liability.
What is the outcome?
If you get involved in such transactions, you may face criminal detention, and in the most severe cases, even a prison sentence of 3 to 7 years.
Final reminder:
Cash transactions for U, especially offline, must be handled with extra caution! Choose a legitimate trading platform to avoid being involved in fraud and money laundering cases, and protect yourself from trouble!