China Crackdown on Illegal Money Flows Sees 450 People ArrestedBloomberg News
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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