Latest News:  
Beijing   Cloudy/Overcast    7 / 0   City Forecast

People's Daily Online>>China Society

Police bust underground banks holding 5 bln yuan


10:18, March 20, 2012

BEIJING, March 19 (Xinhua) -- Beijing police have busted six illegal banks holding assets of about 5 billion yuan (790 million U.S. dollars) as part of an ongoing nationwide crackdown on money laundering.

Police detained 64 suspects, froze 100 illegal accounts and confiscated 260 bank cards in the bust, according to a Monday statement from the Ministry of Public Security.

Since the initiation of the crackdown in 2009, public security departments across the nation have solved over 150 cases involving underground banks, statistics from the ministry showed.

The ministry said it will continue to crack down on underground banks and money laundering in order to cut off channels used for transferring funds gained through illicit acts such as bribery, smuggling, telecommunications fraud and online gambling.


Leave your comment0 comments

  1. Name


Selections for you

  1. Helicopter dispatched to SW China forest fire

  2. Bomb disposal team defuses hoax bomb in Shenzhen

  3. Warplanes conduct confrontation drilling

  4. British shop owner in Beijing’s hutong

Most Popular


  1. Nuclear security cooperation
  2. Arms race will happen, but who to blame?
  3. Why China can't persuade N.Korea alone
  4. WTO's raw materials ruling reveals bias
  5. 21st Century classrooms needed for the future
  6. West's rare earth claim against China unreasonable
  7. Chinese economy vital for world
  8. How should China provide for seniors?
  9. Obama brings new trade case against China
  10. Giving is an aid to prosperity

What's happening in China

Poverty relief campaign offered in 798 Art Zone

  1. Coal-rich city aims to become sunshine state
  2. Firm admits it sold dead ducks
  3. Synthetic drugs pose new challenge
  4. Union chiefs asked to give contact info
  5. Carrefour food scandal shuts down store

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai