BEIJING- Chinese Ministry of Public Security said Monday that the nation's police authorities had shut down 500 underground banks since 2002 in its battle against money laundering.
, J6 A: w+ t; y# O3 _7 }$ }, I) m! o Ten crack-down campaigns have be waged since 2002 when the ministry set up a division dedicated to anti-money laundering, in which over 100 cases involving more than 200 billion yuan (30 billion US dollars) have been handled, the ministry said in a statement.& S" T ]! V2 F9 @
The ministry has trained more than 400 police officers specialized in handling money laundering cases over the past eight years, said the statement.3 |, M" V+ B" ?
In order to promote international cooperation, China joined the Moscow-based Eurasian Group on Combating Money Laundering and Financing of Terrorism as a founding member state inn October 2004.5 s6 m) f: a; ^& U
In June 2007, China joined another international anti-money laundering organization, the Paris-based Financial Action Task Force on Anti-Money Laundering. |