Economic crime on rise, firms warned

SHANGHAI: Local companies should be alert to the increasing risk of economic crimes, a public security official said yesterday.

Speaking at a press briefing, Tong Yongzheng, director of the Zhabei branch of the municipal public security bureau, said reports of commercial fraud and illegal fundraising had been on the rise since the second half of last year.

"As the economic situation has worsened, the risk of fraud has increased," he said.