Chinese police yesterday announced that they had shut down seven illegal "underground banks" sus-pected of laundering more than 14 billion yuan (US$1.75 billion) in funds this year.
Police have arrested 44 sus-pects in the crackdown and confiscated 58 million yuan, Han Hao, an economic crime investigator with the Ministry of Public Security, told reporters.
"Under the current conditions of economic globalization, the global movement of capital and the development of high-speed communications, money laundering has exploded," Han said.
"Drug trafficking, smuggling, corruption, graft and other crimes are now closely interlinked and form a serious threat to our nation's political, economic and social security," Han said.
The illegal banks were largely located in the coastal and border regions including Guangdong, Shanghai, Beijing, Inner Mongolia, Liaoning and Heilongjiang, he said.
Criminals were using the illicit banking operations to illegally transfer money and buy and sell foreign currencies, he said.
An illegal operation in Shanghai was suspected of laundering up to 5 billion yuan this year and was organized by an unnamed suspect from Singapore, Han said in transcripts of his press conference on a government Web site.
The underground Shanghai bank was offering remittance, foreign exchange and other banking services between Singapore and China, he added.
"Our attitude in eliminating and severely cracking down on these underground banks is very clear. We will continue to exert high pressure on these activities," he said.
ALEX AZAR: The first visit by a head of the Department of Health and Human Services would strictly observe the CECC’s special regulations, the Ministry of Foreign Affairs said US Secretary of Health and Human Services (HHS) Alex Azar is to lead a delegation to Taiwan — the highest-level visit by a US Cabinet official since the two sides cut formal relations in 1979. The plan was announced yesterday morning by the US Department of Health and Human Services and confirmed by the Ministry of Foreign Affairs (MOFA). Beijing has expressed its concerns to Washington, Chinese Ministry of Foreign Affairs spokesman Wang Wenbin (汪文斌) said later yesterday. Taiwan and the US only issued statements saying that the visit would happen “in the coming days.” MOFA said that due to security concerns, it would
‘CROSS-STRAIT CONSIDERATIONS’: Groups said that the Ministry of Education’s policies excluded Chinese and students should not be blocked over political issues The Taiwan International Student Movement yesterday said it would protest today outside the Ministry of Education in Taipei against a policy that excludes some Chinese students from returning to Taiwan amid the COVID-19 pandemic. Since June 17, the ministry has allowed foreign students from 19 “low risk” and “medium-low risk” countries and regions to enter Taiwan. On July 22, it announced that it was relaxing restrictions to include students from all countries and regions who are graduating this semester and on Wednesday it further expanded entry to students enrolled in degree programs. A letter sent by the ministry on Wednesday to universities did
The military last week sent “no small number” of Marine Corps officers to the Pratas Islands (Dongsha Island, 東沙群島) following reports of a Chinese People’s Liberation Army (PLA) drill targeting the islands scheduled for this month. In an interview with Hong Kong’s Bauhinia Magazine published on Saturday last week, PLA National Defense University professor Li Daguang (李大光) confirmed that the Chinese army was planning to stage a simulated invasion of the Pratas Islands in the South China Sea this month. The islands comprise three atolls, with Pratas Island, at 1.74km2, being the largest. They lie southwest of Taiwan proper in the South
‘CORRUPTION’: One DPP lawmaker and two KMT legislators were held incommunicado, while former NPP chairman Hsu Yung-ming was released on bail in the Pacific Sogo case The Taipei District Court yesterday ordered that three lawmakers be held incommunicado amid a probe into allegedly bribery relating to an ownership dispute over Pacific Sogo Department Store (太平洋崇光百貨). The three are Su Chen-ching (蘇震清) of the Democratic Progressive Party, and Chen Chao-ming (陳超明) and Sufin Siluko (廖國棟) of the Chinese Nationalist Party (KMT). Also held incommunicado were Su’s office director Yu Hsueh-yang (余學洋) and Sufin’s office director Ting Fu-hua (丁復華), as well as Kuo Ke-ming (郭克銘), a political lobbyist and general manager of Knowledge International Consultancy (是知管理顧問公司). The Taipei District Prosecutors’ Office on Friday raided the offices of six incumbent and former