China Crackdown on Illegal Money Flows Sees 450 People Arrested

  • Suspects said to use offshore companies, ‘underground banks’
  • Officials grappling with risk of more capital outflows

Chinese authorities said 450 suspects have been arrested this year in a crackdown on using offshore companies and “underground banks” to transfer money illegally, underscoring the scale of the task for officials trying to control capital flows. 

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