Beijing's Xicheng cracks down on financial crime

A total of 1,441 people have been charged with financial crimes by prosecutors in Beijing's Xicheng district over the past decade, demonstrating the regional judiciary's determination and efforts to protect financial security, a report said.

The crimes were mainly related to banking, securities, insurance, funds and trusts, but there has also been a rapid growth in cases involving illegal fundraising, according to the report issued by the Xicheng District People's Procuratorate on Thursday.

Over the past 10 years, prosecutors have resolved 36 cases of workers in financial industries accepting bribes or embezzling public funds by falsifying documents or tampering with system information, it said, adding that work-related crimes were most frequent in departments for approving loans and selling funds.

In addition to fighting crime and helping victims recover lost assets, the prosecutors also visited residential communities to share tips on preventing fraud and financial enterprises to teach about reducing financial risk for business people.

Thanks to the increased exchange and cooperation between the procuratorate and the capital's financial institutes, including the Beijing Securities Regulatory Commission and the Beijing Banking Association, potential financial risks and criminal indications have been brought to light and resolved in a timely manner, it added.