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This news cluster revolves around the arrest of two NetEase executives and nine employees for alleged money laundering activities. The investigation, conducted by Chinese law enforcement, has uncovered an intricate scheme involving contracts and a suspected $139 million laundered through the company. NetEase has terminated the involved employees and is conducting its own internal investigation. While details remain limited, the allegations of money laundering and bribery within the company raise serious concerns about financial security and accountability in the tech sector. The incident highlights the importance of robust internal controls and compliance measures in large corporations to prevent illicit financial activities.

References:

• news.futunn.com - This Futunn article offers additional context about the alleged corruption within NetEase's gaming sector. - 21d
• Siliconera - Two NetEase executives and nine employees were arrested by Chinese law enforcement for money laundering. They allegedly laundered up to $139 million through contracts with several companies. - 21d

Classification:

• HashTags: NetEase MoneyLaundering Cybercrime
• Company: NetEase
• Product: Games
• Type: DataBreach
• Severity: Major