AUGUST 17, 2016
A task force has found illegal banking in 192 locations, China’s state-run news agency says.
Chinese police have this year uncovered $30 billion worth of illegal banking activity, involving 158 cases of underground banks and money laundering, the official Xinhua news agency reported the Ministry of Public Security (MPS) as saying late on Tuesday.
A special task force, jointly launched by the MPS, central bank, and foreign exchange regulator, uncovered illegal banking services in 192 locations, the report said.