Last week, Weibo censors took down a post by a popular food blogger describing how all her bank accounts were frozen due to a local police department’s arbitrary and unprofessional “anti-fraud” case work. Her Kafka-esque account...
On April 6, a Weibo user from Zhejiang province reported a case of local anti-fraud center overreach that resulted in his bank cards and Alipay account being frozen after he made a work-related call to a Singaporean bank. In a...
“Voices of July” continues CDT’s monthly “Voices of …” collection of viral and censored audio-visual content from all over China. Inspired by the original audio-visual compilation “Voices of April,” which was the target of...
“Voices of June” continues CDT’s monthly “Voices of …” collection of viral audio-visual content from pandemic lockdowns in Shanghai and other Chinese cities. Inspired by the original audio-visual compilation “Voices of April,”...
Hundreds of bank depositors clashed with police in Zhengzhou, the provincial capital of Henan, in a major escalation of a simmering conflict between rural customers and a consortium of likely insolvent local banks that have...
As citizens revolt against never-ending lockdowns and local governments “resolutely struggle against all distortions, doubts and denials” of Xi Jinping’s zero-COVID policy, as recently ordered by the Politburo Standing...
A major fraud at Longtop Financial Technologies, a Chinese financial software company, was revealed this week in a resignation letter by its auditor Deloitte Touche Tohmatsu. Floyd Norris writes in his column in the New York...
From Reuters: China’s banking regulator on Friday urged the country’s lenders to redouble efforts to strengthen internal controls and prevent scandals, renewing a call for better supervision following a series of fraud cases. “Although some achievements have been gained in addressing banking scandals since last year, the current situation in this regard is still very […]
From Shanghai Daily: Auditors say they’ve uncovered 60.3 billion yuan (US$7.5 billion) worth of financial crimes and bookkeeping irregularities at the Agricultural Bank of China, underscoring the challenges regulators face as they attempt to reform the weakest of the nation’s state-owned banks. The probe discovered 51 cases of fraud worth 8.7 billion yuan and involving […]
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