(MENAFN) Chinese authorities will step up a crackdown on illegal funding scams, after recording 5.197 new criminal cases last year including USD36.5bn.
Additionally, more than 30 percent of illegal fundraising cases were linked to private investment and fiscal intermediaries, involving unlicensed investment providers.
Recently, authorities are weighing a ban on organizations and individuals, except financial institutions, from publishing investment-related advertisements.
In 2016, the country confirmed the arrest of 9.441 people on suspicion of illegally public deposits and prosecuted 14.745.
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