Xinhua report in Global Times
Chinese police closed 168,000 cases of financial crime and recovered 35.6 billion yuan (5.2 billion US dollars) last year, the Ministry of Public Security announced on Monday.
According to the ministry, the frequency of financial crime is still high in China. Cases of illegal fund-raising, pyramid selling, online peer-to-peer fraud, securities and futures crime, counterfeit money and bank card fraud have infringed on the interests of investors and undermined market stability.
Credit card crime has surged in China, with more than 63,000 cases filed in 2016, accounting for one third of all financial crime.
Last year saw new methods of writing false value added tax invoices and defrauding export tax rebates. A case in east China’s port of Xiamen involved nearly ten billion yuan, seriously disturbing national tax order.
The ministry pledges to continue to strike hard against financial crime and calls for the public to report any knowledge of financial crimes to public security authorities.http://www.globaltimes.cn/content/1047130.shtml
China’s top graft authority exposes official corruption
Xinhua report in Global Times
The top disciplinary arm of the Communist Party of China (CPC) named and shamed 88 officials in 71 corruption cases that directly undermined public interests Thursday.
The CPC Central Commission for Discipline Inspection (CCDI) said the cases involved extortion of state subsidies, embezzlement of poverty relief funds, misappropriation of compensation for land requisitions, abuses of power and receipt of kickbacks.
Those named on the list were mainly low-level bureaucrats. A total of 3,333 officials in 2,412 cases have been exposed since the CCDI established the monthly reporting system to disclose such violations in July 2015.
Investigation found that extortion of state subsidies for agriculture was the most common misdemeanor, followed by misappropriation of compensation for land requisitions and embezzlement of allowances for house renovation, according to the CCDI. http://www.globaltimes.cn/content/1046653.shtml
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