Japan arrests three Chinese nationals over illegal underground bank operations

On June 17, Japanese authorities detained three Chinese nationals suspected of running an illegal “underground bank” that performed unlicensed foreign‑exchange transactions and facilitated money‑laundering.

The suspects—including a 26‑year‑old student, a 24‑year‑old unemployed man, and a 27‑year‑old accused of impersonating a police officer—are alleged to have exchanged yuan sent by Chinese students for roughly ¥1.2 million each and handed out cash, while also defrauding about ¥5 million. The Tokyo Metropolitan Police and Okinawa Prefectural Police carried out a joint investigation into the case.