Police in Shenyang, capital of northeast China's Liaoning Province, destroyed three underground banks allegedly involved in illegal transactions of won, the currency of the Republic of Korea, the State Administration of Foreign Exchange said Thursday on its website.

Seven suspects were arrested. More than 900,000 yuan (111,000 US dollars), and a large amount of won and 100 pieces of bank saving books were seized. In addition, more than 200 bank accounts were frozen.

The operation was conducted based on clues from the anti-money laundering information system, the administration said. However, it did not say when the operation was carried out.

Investigation into the case is still under way.

The anti-money laundering information system, launched by the administration this year, offers clues on suspected money laundering and illegal money transactions.

Source: Xinhua