Banking: China's crackdown on underground banking
A statement yesterday by China's Ministry of Public Affairs outlined its counter-money laundering actions since 2002. The results are startling.
Here are the numbers:
100 successful prosecutions for money laundering since 2002.
Cases involved more than 200,000 million yuan (USD30,000 million)
More than 500 "underground bank" (chop houses) identified and closed down.
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