2015年CRI China Tracks 800 Bln Embezzled Money under Operation Skynet

 

Chinese authorities have so far handled 92 major cases, involving over 800 billion yuan, or 126 billion US dollars, of embezzled¹ money transferred through underground banks and offshore² companies.

This is part of the wider "Operation Skynet" campaign, which aims to hunt down corrupt³ officials who have fled abroad.

Li Mingzhao, an official at the Ministry⁴ of Public security heading an anti-money laundry team, says underground banks pose a great threat to China's anti-corruption efforts and to national security.

"Underground banking⁵ provides money laundering⁶ channels for crimes such as illegal fund-raising, pyramid scheme and telecommunication⁷ frauds, sometimes making it impossible to recover the economic losses. Some underground banks even provide money-raising channels for terrorist groups, which threatens our national security. At the same time, some underground banks also enable corrupt officials to transfer their assets abroad."

Due to a lack of supervision⁸ and control, underground banks have been rampant⁹ in China over the past decade, causing disturbances¹⁰ on the financial and capital markets in China.

Ouyang Xiong, Director of Supervision and Inspection¹¹ Department of State Administration of Foreign Exchange, says underground banks have a negative impact on the wider economy.

"Both Capital inflows and capital outflows through underground banks will affect the interest rate level, the exchange rate level and the economic balance of our country. And the whole economic order of our country will be impacted as we are not able to monitor the capital flow of underground banks."

According to regulations, the amount of money an individual can move out of China should be less than 50,000 US dollars per year.

However, it's been reported that some people can remit¹² millions of dollars at one time through underground banks.

Director of Finance and Securities Institute at Renmin University of China Wu Xiaoqiu says combating financial crimes like money laundering and underground banks will help maintain current economic order and development.

"Underground banking is very destructive to China's financial system. It should be strictly¹³ controlled. Without a developed, sound, open and international financial market, China's efforts to build a modern financial system based on the financial market will be in vain. The sustainable development of China's economy will also be influenced. "

Last year, China launched a campaign targeting suspects in economic crimes, many of them corrupt officials of government departments and state-owned enterprises.

In Fox Hunt 2014, 680 fugitives¹⁴ were repatriated¹⁵ to China.

Following Fox Hunt 2015, China launched a campaign named "Skynet" this April to capture corrupt officials who fled abroad.

As of late June, more than 260 fugitives have been returned to China from more than 30 countries and regions, including the United States, Canada and Australia.

For CRI, I'm Victor Ning.

1 embezzled   

v.贪污，盗用（公款）( embezzle的过去式和过去分词 )

参考例句：

• The clerk embezzled a thousand pounds from the bank where he worked. 那个职员在他工作的银行里贪污了一千英镑。 来自《简明英汉词典》
• The cashier embezzled ＄ 50,000 from the bank. 出纳员盗用了银行5万美元。 来自《现代汉英综合大词典》

2 offshore   

adj.海面的，吹向海面的；adv.向海面

参考例句：

• A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
• A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。

3 corrupt   

v.贿赂，收买；adj.腐败的，贪污的

参考例句：

• The newspaper alleged the mayor's corrupt practices.那家报纸断言市长有舞弊行为。
• This judge is corrupt.这个法官贪污。

4 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 laundering   

n.洗涤（衣等），洗烫（衣等）；洗（钱）v.洗（衣服等），洗烫（衣服等）( launder的现在分词 )；洗（黑钱）（把非法收入改头换面，变为貌似合法的收入）

参考例句：

• Separate the white clothes from the dark clothes before laundering. 洗衣前应当把浅色衣服和深色衣服分开。 来自《简明英汉词典》
• He was charged with laundering money. 他被指控洗钱。 来自《简明英汉词典》

7 telecommunication   

n.电信，远距离通信

参考例句：

• Telecommunication is an industry of service.电信业是一个服务型的行业。
• I only care about the telecommunication quality and the charge.我只关心通信质量和资费两个方面。

8 supervision   

n.监督，管理

参考例句：

• The work was done under my supervision.这项工作是在我的监督之下完成的。
• The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

9 rampant   

adj.(植物)蔓生的；狂暴的，无约束的

参考例句：

• Sickness was rampant in the area.该地区疾病蔓延。
• You cannot allow children to rampant through the museum.你不能任由小孩子在博物馆里乱跑。

10 disturbances   

n.骚乱( disturbance的名词复数 )；打扰；困扰；障碍

参考例句：

• The government has set up a commission of inquiry into the disturbances at the prison. 政府成立了一个委员会来调查监狱骚乱事件。
• Extra police were called in to quell the disturbances. 已调集了增援警力来平定骚乱。

11 inspection   

n.检查，审查，检阅

参考例句：

• On random inspection the meat was found to be bad.经抽查，发现肉变质了。
• The soldiers lined up for their daily inspection by their officers.士兵们列队接受军官的日常检阅。

12 remit   

v.汇款，汇寄；豁免（债务），免除（处罚等）

参考例句：

• I hope you'll remit me the money in time.我希望你能及时把钱汇寄给我。
• Many immigrants regularly remit money to their families.许多移民定期给他们的家人汇款。

13 strictly   

adv.严厉地，严格地；严密地

参考例句：

• His doctor is dieting him strictly.他的医生严格规定他的饮食。
• The guests were seated strictly in order of precedence.客人严格按照地位高低就座。

14 fugitives   

n.亡命者，逃命者( fugitive的名词复数 )

参考例句：

• Three fugitives from the prison are still at large. 三名逃犯仍然未被抓获。 来自《简明英汉词典》
• Members of the provisional government were prisoners or fugitives. 临时政府的成员或被捕或逃亡。 来自演讲部分

15 repatriated   

v.把（某人）遣送回国，遣返( repatriate的过去式和过去分词 )

参考例句：

• The refugees were forcibly repatriated. 难民被强制遣送回国。
• Ancient artworks were repatriated from the US to Greece. 古代艺术品从美国遣送回希腊。 来自《简明英汉词典》