Police in northern Guangdong province break up two major underground banks

A major channel used to transfer money to the Macao Special Administrative Region for gambling activities has been cut off after police broke up two major underground banks in Shaoguan in northern Guangdong province earlier this month.

Officers detained seven suspected gang members. The banks were involved in more than 20 billion yuan ($3.1 billion) of transactions, according to a statement published online by the Shaoguan public security bureau on Thursday.