Illegal banking has been rampant in Shenzhen, the provincial capital of Guangdong, where one underground bank that handled 30 billion yuan in transactions was busted in August. File photo: AP Illegal banking has been rampant in Shenzhen, the provincial capital of Guangdong, where one underground bank that handled 30 billion yuan in transactions was busted in August. File photo: AP
Illegal banking has been rampant in Shenzhen, the provincial capital of Guangdong, where one underground bank that handled 30 billion yuan in transactions was busted in August. File photo: AP

Police crackdown in southern China busts underground banks handling US$35b: Xinhua

At least 350 people suspected of involvement in 140 cases of underground banking and money laundering have been arrested in Guangdong this year

Topic |   Corruption in China
Illegal banking has been rampant in Shenzhen, the provincial capital of Guangdong, where one underground bank that handled 30 billion yuan in transactions was busted in August. File photo: AP Illegal banking has been rampant in Shenzhen, the provincial capital of Guangdong, where one underground bank that handled 30 billion yuan in transactions was busted in August. File photo: AP
Illegal banking has been rampant in Shenzhen, the provincial capital of Guangdong, where one underground bank that handled 30 billion yuan in transactions was busted in August. File photo: AP
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