Chinese police cracks down hard on economic crimes

Chinese police have cracked some 145,000 cases of economic crimes, with some 88.2 billion yuan (14.2 billion U.S. dollars) recovered this year, said the Ministry of Public Security on Thursday.

The ministry listed illegal fund raising, credit card fraud, counterfeit goods and counterfeit money as the four major types of economic crimes, with some 100,000 such cases registered.

Illegal fund-raising, or pyramid schemes, is spreading from coastal regions to the central and western areas, with suspects using the pretext of wealth management, investment consultation and cyber finance to swindle money.

The Internet is playing a larger role in sales of counterfeit goods as consumers find it more difficult to tell genuine goods from fake online. Endi