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Financial crimes surge in China: SPP

Xinhua, September 23, 2015 Adjust font size:

China saw an explosion of financial crimes in the first half of 2015 with 10,608 suspects arrested for financial fraud, up 67.2 percent year-on-year, the Supreme People's Procuratorate (SPP) announced Wednesday.

A total of 11,276 people involved in 8,322 cases were charged from January to June, a 30 percent increase compared with the same period last year, the SPP said.

Credit card fraud stands atop financial crimes, followed by illegal fund raising, and then insider trading, the SPP said.

More than 200,000 people were investigated or had been charged during January 2014 to June 2015 for credit card fraud.

There was also a steep increase in illegal fund raising in the first half, up 74 percent year on year, the SPP said. Some cases involved several billion yuan. Endi